Matproof vs Thoropass: EU Compliance Automation Compared

Introduction

Most European financial institutions start their compliance automation search by Googling "best SOC 2 tool" and end up on Thoropass. That is understandable. Thoropass (formerly Laika) has built a solid reputation in the US market for streamlining SOC 2 audits. The problem surfaces three months later, when the same institution needs to demonstrate DORA compliance to BaFin, map ISO 27001 controls to NIS2 requirements, and prove to an auditor that all customer data stays within EU borders.

At that point, the SOC 2 tool that looked perfect suddenly has gaps. Significant ones. DORA Article 6(1) requires financial entities to maintain a comprehensive ICT risk management framework. NIS2 Directive Article 21 mandates specific risk management measures for essential and important entities. These are not optional add-ons; they are legal obligations with enforcement teeth. Under DORA, penalties can reach up to 10 million EUR or 2% of total annual worldwide turnover per Article 50. Under GDPR, it is up to 20 million EUR or 4% of global annual turnover.

This comparison breaks down exactly where Thoropass works, where it falls short for EU-regulated companies, and how Matproof addresses the gaps that European financial institutions face daily.

Quick Comparison Overview

Framework Coverage

Thoropass earned its reputation through SOC 2. The platform was built around the AICPA Trust Services Criteria, and it does this well. The audit workflow is polished, the control mapping is thorough, and the readiness assessments give companies a clear picture of where they stand before the auditor arrives. For a US SaaS company that primarily needs SOC 2 Type II, Thoropass is a reasonable choice.

The difficulty begins when a European financial institution needs more than SOC 2. DORA is not a minor regulation; it is the EU's comprehensive framework for digital operational resilience in the financial sector. It requires ICT risk management frameworks per Article 5, incident classification and reporting per Articles 17-23, digital operational resilience testing per Articles 24-27, and third-party ICT risk management per Articles 28-44. Thoropass has no dedicated DORA module. There is no structured mapping of controls to DORA articles, no ICT third-party risk register template, and no incident reporting workflow aligned with the regulation's timelines.

Matproof was built from the ground up for this exact regulatory environment. Its DORA module maps controls directly to the regulation's articles, generates the ICT risk management framework documentation that BaFin expects, and automates evidence collection specifically for DORA audit requirements. The platform also provides full ISO 27001 support with Annex A control mapping, SOC 2 Type I and Type II readiness, NIS2 compliance tracking, and GDPR data processing documentation.

For a European bank or insurance company running three or four frameworks simultaneously, the difference between a single-framework tool and a multi-framework platform is not convenience. It is the difference between duplicate work and unified control mapping where a single control satisfies requirements across DORA, ISO 27001, and SOC 2 simultaneously.

EU Compliance and Data Residency

Data residency is not an abstract concern for European financial institutions. GDPR Article 44 sets clear restrictions on transferring personal data outside the EU. The Schrems II ruling (Case C-311/18) invalidated the EU-US Privacy Shield, making data transfers to the US legally complex. While the EU-US Data Privacy Framework provides a new basis for transfers, many financial regulators, including BaFin, still expect organizations to minimize cross-border data flows where possible.

Thoropass operates from US infrastructure. Compliance data, audit evidence, policy documents, risk assessments, and employee records are processed and stored on US servers. For a European financial institution subject to BaFin oversight, this creates an uncomfortable position: explaining to your regulator why sensitive compliance documentation, including details about your ICT risk posture, sits on infrastructure outside EU jurisdiction.

Matproof hosts all data in German data centers. Every policy document, every piece of audit evidence, every risk assessment stays within the EU. This is not merely a technical detail; it is a direct response to the regulatory expectations of DORA Article 28(2), which requires financial entities to consider the geographical location of data processing when assessing ICT third-party risk. When your compliance platform itself stores data outside the EU, you are introducing precisely the kind of third-party risk that DORA was designed to address.

Beyond data residency, Matproof generates policies in both German and English. This matters because BaFin expects documentation in German. An English-only compliance platform creates a translation burden that adds cost, introduces risk of misinterpretation, and slows down audit preparation. Matproof's AI-powered policy generation produces legally precise policies in both languages, aligned to the specific requirements of German financial regulation.

Pricing and Value

Thoropass pricing typically starts around 10,000 USD/year (approximately 9,200 EUR at current rates) for SOC 2 compliance. Additional frameworks increase the cost. The platform also connects customers with auditors from its US-based partner network, which can add 15,000-30,000 USD for a SOC 2 Type II audit.

Matproof starts at approximately 8,000 EUR/year and includes multi-framework support from the base tier. DORA, ISO 27001, SOC 2, NIS2, and GDPR modules are available without requiring separate add-on purchases for each framework. The platform works with EU-based auditors who understand the specific expectations of European regulators.

The real cost comparison, however, extends beyond the subscription price. Consider the total cost of ownership: with Thoropass, a European company needing DORA compliance will still need to build DORA controls manually, engage separate consultants for BaFin-specific requirements, translate policies into German, and manage the data residency question independently. These hidden costs can easily add 20,000-50,000 EUR per year in consulting, legal review, and internal labor. With Matproof, these requirements are built into the platform.

Who Should Choose What

Choose Thoropass if:

• Your company is US-based or primarily serves US customers
• SOC 2 is your only or primary compliance requirement
• You do not operate under DORA, NIS2, or BaFin oversight
• Data residency within the EU is not a regulatory requirement for your organization
• Your compliance documentation is exclusively in English

Choose Matproof if:

• You are a European financial institution or fintech subject to DORA
• You need to maintain multiple frameworks (DORA + ISO 27001 + SOC 2 + GDPR)
• BaFin, EBA, or another EU financial regulator oversees your operations
• EU data residency is a regulatory requirement or strong preference
• You need compliance policies in German and English
• You want a unified control mapping that reduces duplicate effort across frameworks

For European financial services companies, the decision often comes down to a simple question: do you want a tool built for US companies that you adapt to EU requirements, or a platform built specifically for those EU requirements from day one?

The Bottom Line

Thoropass is a competent SOC 2 compliance platform. For US companies that primarily need SOC 2 certification, it delivers. But for European financial institutions operating under DORA, the platform has fundamental gaps: no dedicated DORA module, no NIS2 support, US-based data storage, English-only policies, and a US-centric auditor network.

Matproof addresses each of these gaps directly. Full DORA compliance support mapped to specific articles, ISO 27001 and SOC 2 under one roof, 100% EU data residency in German data centers, bilingual policy generation, and an auditor network that understands what BaFin expects. For a European bank, insurance company, or fintech that needs to pass a DORA audit while maintaining ISO 27001 certification and SOC 2 attestation, Matproof provides the multi-framework coverage that Thoropass cannot.

For a free assessment of your current compliance posture and how Matproof can support your DORA readiness, visit matproof.com/contact.

FAQ

Can Thoropass handle DORA compliance requirements?

Thoropass does not offer a dedicated DORA compliance module. While some general security controls may overlap with DORA requirements, the platform lacks structured mapping to DORA articles, ICT third-party risk register templates, and incident reporting workflows aligned with DORA's specific timelines (Articles 17-23). European financial institutions subject to DORA will need to supplement Thoropass with manual processes or additional consulting.

Is EU data residency really necessary for compliance platforms?

For organizations subject to GDPR and DORA, data residency is a significant consideration. DORA Article 28(2) requires financial entities to assess the geographical location of data processing by ICT third-party service providers. GDPR Article 44 restricts transfers of personal data outside the EU. While legal mechanisms exist for US data transfers, storing compliance data, which often includes sensitive operational and personnel information, within the EU reduces regulatory risk and simplifies audit conversations with supervisory authorities like BaFin.

Can I use Thoropass for SOC 2 and Matproof for DORA separately?

Technically yes, but this approach creates significant inefficiencies. Running two separate compliance platforms means maintaining duplicate control libraries, collecting evidence twice, and managing two separate audit workflows. Many controls overlap between SOC 2 and DORA, particularly around access management, incident response, and vendor risk. A unified platform like Matproof maps a single control to multiple frameworks, reducing effort and ensuring consistency across certifications.

How does Matproof compare to Thoropass on SOC 2 specifically?

Both platforms provide full SOC 2 Type I and Type II support, including control mapping to the AICPA Trust Services Criteria, automated evidence collection, and readiness assessments. Thoropass has more experience with US-based SOC 2 auditors. Matproof works with EU-based auditors and integrates SOC 2 into its multi-framework approach, so the same controls that satisfy SOC 2 criteria also map to ISO 27001 Annex A and DORA requirements. For a European company that needs SOC 2 alongside other frameworks, Matproof's unified approach typically results in less total audit preparation work.