Case Study: Tokenization helps Indonesian financial technology and service provider with PCI compliance
The company needed to comply with PCI-DSS to securely exchange data with customers and partners.
A leading financial technology and service provider in Indonesia required a data protection solution to comply with the Payment Card Industry Data Security Standard (PCI-DSS) to securely exchange data with its customers.
With 24 years’ experience in developing research and analysis software, the company provides products that combine their expertise in capital and money markets together with software development to cater to a wide range of users such as retail investors and financial sector professionals.
The company runs three lines of business: that of a bill payment aggregator, an electronic payment platform and online payment solutions. It needed a data protection solution to comply with PCI-DSS and to securely exchange data with its customers from the e-commerce, banking, and insurance fronts.
Auditors mandate FIPS (Federal Information Processing Standards) 140-2 validation to meet encryption and key management requirements in the PCI-DSS for data protection.
An inability to meet compliance can lead to security incidents that could then lead to data breaches and heavy fines, damaging brand reputation and putting the entire business at risk. Most importantly, the company required a solution that enables them to expand and scale as more partners engage their services, processing sensitive financial data for analysis.
Find out how Thales is helping this leading Indonesian financial service provider…