Security

Our commitment to security: Save is SOC 2, Type 2 certified! 

Heather Leighton
Security
Security is heightened at Save with SOC 2 Type 2 certification.
In the ever-evolving landscape of financial technology, traditional banking institutions are seeking innovative partnerships, like what Save offers, to stay competitive and enhance their offerings. Recently, we set a new standard for ourselves by completing our SOC 2 certification. SOC 2 stands for System and Organization Controls (SOC). It’s an independent, third-party assessment of an organization’s security practices. Types I and II of SOC 2 demonstrate different levels of proven security standards.  Related read: The future of banking can be better for customers and banks Understanding SOC 2: Type 1 vs. Type 2  Before we explore the unique advantages of…

The future of banking can be better for customers and banks 

Heather Leighton
Save CultureSecurity
Two men sailing thinking about banking.
Fintechs like Save are transforming the banking industry, but unique to our “Savetech” is the appeal for both banks and customers.   Banking-as-a-service, known as “BaaS,” has flourished thanks to technological advancements and regulatory changes, and we’re thankful for the BaaS partnerships that we have garnered because it allows us to bring quality banking alternatives to the marketplace.     “The days of going into a bank to open an account are gone thanks to BaaS,” said Michael Nelskyla, Founder and CEO of Save. “Customers can open a Save account entirely on their own within minutes and start earning more on their money.…

Our philosophy on Market Savings fees – you shouldn’t pay fees if you don’t make money 

Heather Leighton
InvestingSecurity
Man in a canoe on a lake thinking about Market Savings fees.
Our Market Savings fee structure is changing the investment world by doing something no other financial advisor is doing: If you don’t make money, we don’t make money.   To put our customers first, we’re on a mission to build financial products that build your wealth. For Market Savings, your portfolio has to earn more than our management fee before we take our fee.   This is how Market Savings management fee breaks down:  If your Save portfolio earns less than 0.35% If your Save portfolio earns exactly 0.35% If your Save portfolio earns more than 0.35% Save charges no fee Save charges no fee You…

What you need to know before becoming a Save customer

Heather Leighton
Save CultureSecurity
What you need to know before opening a Save account 
When deciding on opening a financial account with any firm, credibility is often of importance. Ultimately, credibility can often be found in trust signals that are linked to government-regulated memberships and a fintech’s partner network, like with Save.    As an SEC-regulated firm, we are required to abide by specific standards to ensure customers can access all of the information they may want to know about our business, but sometimes it’s hard to sort out the most critical information as a customer. To help, we’ve compiled what we think are some of the key pieces of information customers would want to…

How to spot a credible fintech in a world with FTX and SBF fiascos 

Heather Leighton
SecurityFinance
We’ll share how you can spot credible fintechs.
With the news of the FTX demise and arrest of their founder Sam Bankman-Fried (known commonly as SBF), it can be difficult to trust new startups and fintechs. But we’ll share how you can spot credible fintechs.   Ultimately, credibility can be found in trust signals that are linked to government-regulated memberships and a fintech’s partner network.   Credibility factor #1: FDIC insurance  You’ve likely seen some fintech companies use this language: “[Company name], nor any of their affiliates is a bank, but we partner with [partner] Bank, Member FDIC.”  This commonly used disclosure aside, language like this provides customers with two…

University of Houston Graduate Students Join Save’s Development and Security Teams

Heather Leighton
Save CultureFinanceSecurity
This summer, University of Houston students Nilesh Dikhale and Aditya Pendse will gain startup culture experience before entering their final school year.
This summer, University of Houston students Nilesh Dikhale and Aditya Pendse will work alongside the development and IT security teams, respectively, to gain startup culture experience before entering their final year in graduate school. As Save continues development on improving our systems and product offerings, Nilesh and Aditya will help the team execute our newest product offerings, including the Wealth Card and Market Savings account, and ensure they’re secure. For both University of Houston graduate students, the startup environment is an appeal because of the opportunities to own and manage a diverse range of responsibilities. More specifically, Nilesh particularly was…

Save’s Director of Engineering highlights personal data security, system reliability

Emma Wright
FinanceSecurity
Photo of director of engineering Sachin Kulkarni, lead of securing users' personal data.
Save has created pioneering technology and has an expert team to manage your personal data and financial interests. Among the team is Sachin Kulkarni, Save’s Director of Engineering. His passion for information technology led him into academia where information retrieval and large high-dimensional data was the subject of his Ph.D. Sachin holds a patent for his innovative research at HP Labs, which is Hewlett Packard’s advanced research group. Before joining Save, Sachin led the development of the North American energy trading systems Macquarie Global Services. In today’s blog, Sachin highlights a few of the key features his team focuses on,…
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