IT Security Innovator to Show Businesses Using Payment Cards How to Protect Customer Data from Vendor Risk during PCI Security Standards Council’s 2014 North American Community Meeting
Warren, New Jersey –– Sept. 9, 2014 –– Expanding its reach and leadership within the retail market, Prevalent today announced it has joined the PCI Security Standards Council as a Participating Organization and will participate in the PCI Security Standards Council’s 2014 North American Community Meeting Sept. 9-11 in Orlando, Fla.
During the event, Prevalent will showcase Vendor Threat Monitor™ (VTM), a vendor threat intelligence platform, which works in concert with Prevalent’s Vendor Risk Manager (VRM)TM, allowing organizations and IT professionals to continuously and proactively monitor key threat vectors from third-party providers across several relationship risk areas including data risk, operational risk, financial risk and brand risk.
As a member of the PCI Security Standards Council, Prevalent will advocate the need for third-party security assurance for the retail industry. The industry innovator will also support PCI in it efforts to improve payment data security worldwide, through the ongoing development of PCI Security Standards, including the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS).
Endorsed by American Express, Discover, JCB International, MasterCard and Visa Inc., the PCI Security Standards require merchants and service providers that store, process or transmit customer payment card data to adhere to information security controls and processes that ensure data protection. To enhance payment data security globally while embracing new technologies as they are developed, the Council relies on involvement of those across the payments processing chain, from merchants and service providers to payment device manufacturers and software developers, financial institutions and processors.
“Reliable and scalable third-party threat monitoring and vendor risk management is an integral part of protecting payment card security, as evidenced by a series of recent high-profile payment card data breaches involving major retailers,” says Norman Menz, CTO and Co-Founder of Prevalent. “By participating in the PCI Security Standard Council, we will help the organization and its participating members in developing standards and policies that will enable businesses to identify, assess and analyze the potential information security risks associated with payment card processing, while maintaining compliance with industry regulations.”
“We are delighted that the PCI Security Council is advocating the use of third-party risk management technologies in the payment card industry, and we look forward to shaping the discussion and the standards being developed around payment data security, this week at the 2014 North America Community meeting in Orlando,” says Jonathan Dambrot, CEO and Co-Founder of Prevalent.
“In an era of increasingly sophisticated attacks on systems, a multi-layered approach to payment card security that addresses people, process and technology is critical. The PCI DSS provide layers of defense to ensure businesses can detect, prevent and defend against attacks on their systems,” said Bob Russo, General Manager of the PCI Security Standards Council. “By joining as a Participating Organization, Prevalent is playing an active role in mitigating the threats and improving the security of the payment chain globally by driving the security standards to higher levels of adoption and strength.”
About the PCI Security Standards Council
The PCI Security Standards Council is an open, global forum that is responsible for the development, management, education and awareness of the PCI Data Security Standard (PCI DSS) and other standards that increase payment data security. Founded in 2006 by the major payment card brands American Express, Discover, JCB International, MasterCard and Visa Inc., the Council has more than 650 Participating Organizations representing merchants, banks, processors and vendors worldwide. To learn more about playing a part in securing payment card data globally, please visit: pcisecuritystandards.org.
Connect with the PCI Council on LinkedIn: http://www.linkedin.com/company/pci-security-standards-council. Join the conversation on Twitter: http://twitter.com/#!/PCISSC
Prevalent is a vendor risk and cyber threat intelligence innovator with a reputation for developing cutting-edge technologies and highly-automated services that are proven to help organizations reduce, manage and monitor the security threats and risks associated with third-party vendors.
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Laura K. Johnson/Ella Nevill
PCI Security Standards Council