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TAJ Bank Limited, Nigeria’s leading non-interest banking products and services provider, has received the Payment Card Industry Data Security Standard (PCI DSS) certification in recognition of its globally recognised information security standards in all areas of its operations.
The lender is among the first CBN-licensed banks since 2015 to be so recognised for its secured services to millions of its growing customers having commenced operations just over two years ago.
The PCI DSS is an information security standard created by major card schemes operators (Visa, MasterCard, American Express, Discover, and JCB) with a set of technical and operational requirements intended to ensure broad adoption of consistent data security measures by organizations that process, store, or transmit cardholder data.
According to the bank’s management, the certification clearly demonstrates that TAJBank has been implementing all necessary operational and technical controls for proper security protection in processes related to cardholder data production, management, and administration lifecycle.
Specifically, the management maintained that the certification validated the non-interest lender’s protection of customers’ card data and reduces the risk of a data breach; establishes TAJBank’s efficient processes in the detection and prevention of both physical and network-based attacks, will enable the bank to gain improved stakeholders’ confidence in its payment cards processes and transaction systems; and demonstrates TAJBank’s ability to reduce and manage a possible data breach and implications.
Commenting on the global recognition of the bank’s secured services system, the bank’s Managing Director/CEO, Mr. Hamid Joda, said: “This is another huge milestone by TAJBank to have secured the PCI DSS certificatification.
