Union Bank having successfully met the stringent security requirements has announced its attainment of the Payment Card Industry Data Security Standard (PCI DSS) version 3.2 recertification and the International Organisation for Standardisation ISO/IEC 27001:2013 certification.
Nath Ude, Executive Director and Head of Service and Technology at Union Bank while commenting on the Bank’s recent attainment said the Bank’s compliance with international best practices certified by an independent third-party audit, confirms their ability to build, implement and maintain best security practices.
The Bank was awarded by Panacea Infosec, Qualified Security Assessor (QSA) in conjunction with their local partner- Digital Encode .
According to Ude, “We assure our customers of our commitment to maintaining the highest standards of information security as we continue to provide them with simpler, smarter services.”
The PCI DSS is an international data security standard which all organisations must adhere to in order to accept payment cards, and to handle or transmit cardholder data. This standard ensures secure processing of card payments and the reduction of card fraud.
The information security management system ISO/IEC 27001:2013 is an internationally recognised standard which specifies the requirements for the establishment of an effective information management security system.
These certifications enable the bank offer its customers improved data security against card fraud, identity theft, insider threats, cybercrime, hacking and other security exposures.
Following a directive issued in July 2012 by the Central Bank of Nigeria (CBN), Union Bank became the first Nigerian financial institution to be certified in 2014 with the Payment Card Industry Data Security Standard (PCI DSS) – Version 3.0.
Union Bank’s adherence to the strictest information security standards highlights its positioning as one of Nigeria’s most trusted financial institutions.
