Union Bank, SL’s first bank to receive PCI DSS status
View(s):Union Bank has become the first bank in Sri Lanka to receive the international Payment Card Industry Data Security Standard (PCI DSS) by the Security Standards Council, the bank announced this week.
The PCI Security Standards Council is a global forum for the ongoing development, enhancement, storage, dissemination and implementation of security standards for account data protection. The PCI certification is a robust assurance of Union Bank’s data security standards across all systems and processes through which card and account transactions are effected. Commenting on the achievement, Chief Executive Officer of Union Bank, Indrajit Wickramasinghe said, “The security of card and account data is of crucial importance to us as a financial institution. The breach or theft of card/account holder data would adversely affect the entire payment card ecosystem where customers would lose trust in merchants or financial institutions, and in turn business would get negatively affected. As a progressive bank that places greater focus on tech-enabled customer touch points, Union Bank is committed to advocating the highest levels of data security and following PCI security standards confirms our commitment to good business practices”.
Union Bank is one of Sri Lanka’s leading banks supported by the strength of TPG, the US based global private investment firm with over US$70 billion in capital under management and an extensive global network with significant presence in Asia and Europe.