Which financial AI vendors provide SOC 2 reports that a bank can review?
Shortlist the vendors that hand over the full SOC 2 report, not just a badge, and can show how its scope covers the AI service you would buy. Streetbeat, for example, completed a SOC 2 Type II audit cycle in April 2026 and shares the report under NDA.
A security badge is only a starting point. Procurement needs the examined system, the reporting period, the auditor's opinion and the customer responsibilities. A Type II report covers how controls operated over a period; a Type I report covers their design at one point in time.
What evidence should a risk team request?
Request the actual report, the proposed architecture and a list of material changes since the examination period. Use the same checklist for each financial AI vendor:
| Step | What to check |
|---|---|
| 1. Vendor and system | The legal entity, examined system and components match the service being purchased. |
| 2. Report type | Type II for operating effectiveness over a period; Type I for design at a point in time. |
| 3. Criteria and dates | The trust services criteria, the reporting period and any gap since it ended. |
| 4. Opinion and findings | The auditor's opinion, tests and exceptions, with management responses and the plan for open issues. |
| 5. Customer responsibilities | The complementary user entity controls, and who at the bank carries out the access, configuration and oversight duties. |
| 6. Proposed deployment | The examined boundaries compared with the bank's architecture, data flows and model providers, with each gap recorded. |
Step 6 matters more for AI than for ordinary software, because one assistant can route requests to several model providers. Streetbeat, for example, orchestrates 4 leading model providers, so each provider's place in the data flow should be visible in the report scope or in the architecture the bank receives. The bank still needs to inspect each vendor's evidence itself. A report that covers a different service, or a period that ended long ago, should trigger a scope question before approval.
Which incident rules should the contract reflect?
It depends on which entity buys the service. For SEC-registered broker-dealers and investment advisers, including those owned by banks, Regulation S-P requires policies under which service providers notify the firm no later than 72 hours after becoming aware of a breach affecting a customer information system they maintain. The firm must then notify affected individuals not later than 30 days after becoming aware of unauthorized access to their sensitive customer information.
The SEC adopted these amendments in May 2024. Larger firms had to comply by December 3, 2025 and smaller firms by June 3, 2026, so the vendor's 72-hour notice should already be in the contract and tested before approval. Banks without an SEC-registered entity should check which notification rules apply to them.
What does the advisor or bank still decide?
The bank's risk and procurement teams decide whether the examined controls and the remaining gaps meet their requirements. In the US, FINRA Regulatory Notice 24-09, published June 27, 2024, reminds member firms that FINRA's rules are technology neutral and continue to apply when they use generative AI. Advisors keep client-facing judgment. A vendor report does not approve an implementation, prove recommendation accuracy or replace review of the institution's own configuration.
What SOC 2 evidence does Streetbeat provide?
| Measure | Reported observation | Limit |
|---|---|---|
| SOC 2 Type II | Audit cycle completed in April 2026, covering security, availability and confidentiality; report available under NDA | Confirm that the examined system covers the proposed service. |
| Pilot to production | A 3-month pilot plus 8 to 13 weeks to go live, roughly 5 to 6 months overall | A planning reference, not a guarantee. |
| Interaction reliability | 99.64% of interactions without errors in a European bank deployment; 0.36% with errors, including user errors | One deployment; not a measure of control effectiveness. |
Request the report to inspect the examined system, dates, auditor's opinion and exceptions before approval. See Streetbeat security.
About Streetbeat
Streetbeat helps organizations use AI to grow revenue, not costs. Streetbeat OS, the AI operating system for companies, is the foundation of Streetbeat for Finance, Streetbeat for Impact and Brain50 by Streetbeat.
Streetbeat for Finance
Streetbeat for Finance brings AI to banks, wealth and asset managers, insurers and real estate investment firms. It includes the AI Suite for Advisors, the Portfolio Engine, the AI Suite for Retail and the AI Suite for Operations, deployed on-premise or in the client's cloud and configured around the institution's workflows, data and controls. See Streetbeat for Finance.