Document outsourcing security is now a boardroom concern. In today’s digitally interconnected world, protecting sensitive financial data—especially client information—is more critical than ever. A data breach can result in regulatory fines, reputational damage, and serious financial losses.
For financial institutions (FIs), ensuring that document outsourcing vendors implement robust security measures is essential—not just for compliance, but for maintaining customer trust.
Evaluating Vendor Security Measures
Selecting a document outsourcing partner isn’t just about cost and efficiency—it must include a thorough security assessment. Rather than relying on vendor claims, FIs should:
Conduct on-site security audits
Ask detailed, use-case-specific questions
Verify they meet internal and regulatory security benchmarks
Key areas of evaluation include:
Encryption Protocols: All data must be encrypted at rest and in transit
Access Controls: Only authorized staff should access sensitive systems
Incident Response Plans: Vendors should maintain and regularly test breach response procedures
Data Retention Policies: Clear rules for secure data deletion are non-negotiable
Independent Security Audits: The Role of SOC 2 Compliance
Third-party security audits provide independent validation that a vendor’s security practices are sound. One of the most trusted frameworks for such audits is SOC 2 compliance.
What Is SOC 2?
SOC 2 (System and Organization Controls) is a security reporting standard developed by the AICPA. It evaluates internal controls based on five trust principles:
Security – Protection against unauthorized access
Availability – System uptime and accessibility
Processing Integrity – Data accuracy and reliability
Confidentiality – Protection of sensitive client data
Privacy – Adherence to data privacy policies and regulations
A vendor with a current SOC 2 Type II report demonstrates ongoing commitment to best-in-class document outsourcing security.
Going Beyond SOC 2: Strengthening Vendor Evaluation
While SOC 2 is an excellent starting point, it has limits—it’s a reporting framework, not a prescriptive standard. FIs should go further by:
Reviewing Security Staffing: Vendors should have a dedicated team monitoring threats 24/7
Defining Custom Security Standards: Tailor internal benchmarks that align with your risk profile
Assessing Physical Security: Ensure facilities have restricted access, surveillance, and secure document disposal
Verifying Cybersecurity Defenses: Require use of firewalls, endpoint protection, and multi-factor authentication (MFA)
Ensuring Regulatory Compliance: Confirm vendors comply with applicable standards like GDPR, CCPA, and PCI-DSS
It’s also valuable to align with vendor partners who publicly demonstrate their own security infrastructure and best practices, such as Alkami’s approach to security and compliance, which emphasizes transparency and rigorous defense measures in digital banking environments.
Strengthening Your Security Posture
To fully protect sensitive client data, FIs must take an active role in assessing and managing third-party risk. Relying on vendor claims or outdated audits is not enough.
Best practices include:
Conducting annual or biannual audits
Implementing custom vendor contracts that define clear security responsibilities
Maintaining an internal vendor risk matrix
Requesting transparency into security incidents, even if they don’t impact your data
By embedding security reviews into your document outsourcing process, you reduce exposure and strengthen your compliance framework.
Choosing the Right Partner
The right document outsourcing partner will not only meet compliance expectations—they will exceed them. They’ll be transparent, security-minded, and aligned with your internal policies.
For example, Lanvera’s Print and Mail Services are built on a secure infrastructure with high-speed production, tracking, and data management capabilities designed to protect sensitive customer data and streamline document delivery.
Final Thoughts
Document outsourcing security isn’t just a checkbox—it’s a business imperative. Financial institutions that proactively evaluate vendor risk, demand accountability, and enforce high standards will be far better equipped to safeguard sensitive data, meet regulatory obligations, and preserve customer trust.
