Magic Sees 10x More Audit Efficiency With Drata & A-LIGN
Overcoming Compliance Challenges to Drive Strategic Growth
At Magic, trust is paramount, and compliance with security regulations and industry-standard frameworks is essential to safeguarding customer data. As the first Web3 Wallet-as-a-Service (WaaS) provider to achieve SOC 2 Type 2, ISO 27001, and HIPAA attestations, Magic underscores its commitment to trust and security, instilling confidence in clients and reinforcing its industry leadership.
Magic’s solution prior to partnering with Drata and A-LIGN left room for improvement in supporting their strategic business goals. Magic required a solution that would allow them to demonstrate stringent security controls and pass rigorous due diligence processes to serve their high-profile clients. In addition, they needed a tool that would support their ability to pursue multiple audit frameworks.
Expanding their compliance scope to include ISO 27001 and HIPAA attestations with Drata's assistance marked a milestone, instilling trust and opening new opportunities in international markets and the healthcare industry. Drata's robust features, including policy templates, integrations, and access to compliance experts, supported Magic's evolving needs as they expanded their audit portfolio.
Strategic Partnership and Robust Compliance Solutions: Drata and A-LIGN Empower Magic
Magic appointed a dedicated Security Compliance Program Manager and searched for a more robust compliance solution, ultimately selecting Drata. The Security Compliance Program Manager, a former auditor at A-LIGN, conducted a thorough evaluation of major compliance management tools, with Drata emerging as the clear winner due to its comprehensive integrations, policy templates, trust center, risk management modules, and continuous support from compliance experts.
“We discovered Drata through analysis and research, and the solution quickly stood out as the ideal fit for our requirements. Since partnering with Drata, we've experienced tangible improvements in our compliance processes, enabling us to focus more on driving business growth and innovation.”
Magic is currently leveraging Drata across five frameworks, utilizing features such as the Trust Center, Risk Management modules, and ongoing control monitoring via integrations. Integrations with infrastructure providers have been instrumental in providing real-time visibility into control effectiveness. Through the partnership with Drata and A-LIGN, Magic secured premier pricing on external audits, enhancing cost-effectiveness and optimizing the compliance budget. By providing the A-LIGN audit team access to the Drata environment, the collaboration is streamlined, allowing auditors to navigate controls and pull evidence as needed, resulting in a more efficient audit process.
Significant Time Savings and Enhanced Efficiency
Since implementing Drata, Magic has realized significant time savings and business impact. The company has saved countless hours by leveraging Drata for external audits compared to manual compliance processes or their previous solution. A-LIGN auditors now access evidence directly within Drata, eliminating the need for Magic Labs’ security team to manually upload evidence, resulting in substantial time savings and improved efficiency.
Since implementing Drata's Trust Center, compliance reporting has been streamlined, enabling the provision of compliance reports to stakeholders with just a click. Manual processes, such as sharing compliance reports with vendors and customers, have been completely streamlined and automated.
“A-LIGN’s amazing auditors can go into Drata to seamlessly review and pull evidence. We’ve seen amazing results between the two companies.”
The engagement with Drata has been exceptional, with dedicated customer success support, valuable resources, and a seamless user experience. Drata's ongoing monitoring capabilities provide peace of mind, allowing Magic to focus on strategic initiatives while maintaining compliance with confidence.
Achieving SOC 2 Type 2, ISO 27001, and HIPAA attestations with zero findings across all frameworks has bolstered Magic's credibility and trustworthiness, facilitating successful partnerships with enterprise clients.
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Chart Your Course
Navigate to new worlds of trust with Drata.
Chart Your Course
Navigate to new worlds of trust with Drata.