banks TAJBank Nigeria has advised banks to invest in critical IT infrastructure to guarantee security of customers data and delivery of real time services.
Mr Hamid Joda, the Managing Director/Chief Executive Officer of the foremost non-interest banking products and services provider, said this in a statement on Monday.
Joda gave the advice following TAJBank’s Payment Card Industry Data Security Standard (PCI DSS) certification in Abuja.
He said that the bank received the PCI DSS certification in recognition of its globally recognised information security standards in all areas of operations.
The News Agency of Nigeria (NAN) reports that TAJBank is among the first CBN-licensed banks since 2015 to be so recognised.
Joda said that the certification came as a result of its secured services to millions of its customers since it began 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).
It is built with a set of technical and operational requirements to ensure broad adoption of consistent data security measures by organisations that process, store, or transmit cardholder data.
According to Joda, 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.
He said that the certification validated the non-interest bank’s protection of customers’ card data and reduced the risk of a data breach.
“It establishes TAJBank’s efficient processes in the detection and prevention of both physical and network-based attacks.
“It will enable TAJBank to gain improved stakeholders’ confidence in its payment cards processes and transaction systems, and also demonstrate its ability to reduce and manage a possible data breach and implications.
“This is another huge milestone by TAJBank to have secured the PCI DSS certificate.
“This clearly confirms TAJBank’s card operational security efficiency in the banking industry.
“It also ensures improved level of protection of payment cards users by ensuring banks that store, process, and transmit payment card data do so in line with best practices of security requirements.’