TAJBank Nigeria, advised banks to invest in critical IT infrastructure to ensure customer data security and real-time service delivery.
Mr. Hamid Joda, Managing Director/Chief Executive Officer of the leading provider of interest-free banking products and services, said so in a statement on Monday. Joda gave the advice following the PCI DSS (Payment Card Industry Data Security Standard) certification of TAJBank in Abuja. .
He said the bank had received PCI DSS certification in recognition of its globally recognized information security standards across all areas of operations. .
Joda said the certification was the result of its secure services to millions of its customers since it began operations just over two years ago. PCI DSS is an information security standard created by major card scheme operators (Visa, MasterCard, American Express, Discover and JCB). It is built with a set of technical and operational requirements to ensure wide adoption of consistent data security measures by organizations that process, store or transmit cardholder data.
According to Joda, the certification clearly demonstrates that TAJBank has implemented all necessary operational and technical controls for appropriate security protection in processes related to the production, management and administration lifecycle of cardholder data. Map. He said the certification validated the bank’s interest-free protection of customer card data and reduced the risk of data breaches. “It establishes TAJBank’s effective processes in detecting and preventing physical and network attacks.
“This will enable TAJBank to improve stakeholder confidence in its payment card processes and transaction systems, and also demonstrate its ability to mitigate and manage a potential data breach and its implications.” This is another milestone for TAJBank to have secured the PCI DSS certificate. “This clearly confirms the effectiveness of TAJBank’s operational card security in the banking industry. “It also provides a higher level of protection for payment card users by ensuring that banks that store, process and transmit card of payment do so in accordance with the best practices of security conditions.”