Keystone Bank rewarded with PCI-DSS Certification

Keystone Bank has received a certificate of compliance on the successful completion of the Phillips Consulting assessment on Payment Card Industry Data Security Standards.

The Payment Card Industry Data Security Standard (PCI-DSS) is an extensive set of guidelines developed by five of the top global payment card brands and adopted worldwide by card services providers — card issuers, banks, transaction switching companies and merchants — to better protect customers’ payment card information from compromise and frauds through increased controls around the storage, transmission and processing of card data.

During the presentation ceremony, the Managing Director/CEO, Keystone Bank, Mr Philip Ikeazor, represented by the Executive Director, Operations & Technology, Mr Yvonne Isichei, said: “Keystone Bank has engaged the services of PCI-DSS Qualified Security Assessors, Phillips Consulting Ltd, to guide it through the implementation of the standard and conduct the final certification assessment.”  

According to him, the result of the assessment were  that, among other things, Keystone Bank achieved  “creation of a restricted Card Data Environment within our network; the identification and sanitisation of card data from the general network environment and provision of training for staff on card data security best practices and general awareness building on the PCI-DSS requirements.”

While presenting the certificate, Associate Partner, Phillips Consulting, Mr Wole Ogundare, encouraged Keystone Bank to continue with the atmosphere of compliance, noting that “compliance is not a destination but a journey.” 

PCIDSS is one of the several globally recognised and accepted standards championed by the Central Bank of Nigeria (CBN) in its ‘IT Standards Roadmap’ for adoption by the Nigerian financial industry.