In a major boost to its cyber-security system, J&K Bank has become the first Scheduled Commercial Bank (SCB) in the country to attain the esteemed Payment Card Industry Data Security Standard (PCIDSS) Version 4 Certification for both Issuance and Acquiring Business. PCI DSS is a globally recognized set of security standards established by leading payment card brands such as Visa, MasterCard, American Express, Discover, JCB etc. and governed by the Payment Card Industry Security Standards Council (PCI SSC).
Proudly announcing the ground-breaking achievement, the Bank’s MD & CEO Baldev Prakash extended his heartfelt congratulations to the dedicated teams involved in achieving this exceptional certification. He said, “This remarkable accomplishment reaffirms Bank’s unwavering commitment to customer-privacy and security-excellence. Being the first SCB as PCI DSS (V-4.0) compliant in the country is a great badge of honour for us as a financial institution and I would like to congratulate every member of our exceptional team whose hard work and commitment have made this achievement possible. Their unwavering dedication to our customers' safety and satisfaction has been instrumental in attaining this recognition."
“While revolutionising the scope and scale of banking industry, the fast-paced digitisation continues to increase exposure of banks to cyber security risks. In such a situation, this highly prestigious certification is a great acknowledgment of our in-place information-security protocols”, he added.
While reaffirming Bank’s commitment to the clientele and stakeholders of Bank, MD & CEO emphasized that achieving the PCIDSS V4 certification marks a pivotal moment in its journey towards becoming a Bank with unparalleled security and unflinching trust in the realm of digital banking. "With security of our customers' financial data as a top priority, this certification is also a testament of J&K Bank as a reliable financial partner with unwavering commitment to safeguarding the interests of its valued customers”, he said, adding that the Bank will continue to innovate and invest in the latest technologies to uphold and enhance the trust of its valuable customers.
Notably, this certification process involves a comprehensive audit conducted by a team of Qualified Security Assessors (QSA) Certified by PCI Security Standards Council to evaluate an organization's adherence to stringent security controls and protocols during payment card transactions.