FirstBank Achieves PCI DSS Recertification
FirstBank has achieved the recertification of the Payment Card Industry Data Security Standard (PCI DSS) in 2014, having been one of the first top-tier banks in Nigeria to obtain the certification 2013. The certification is renewable annually as demanded by the standard and regulators following a rigorous audit of the Bank’s payment card security processes environment.
The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure companies that process, store or transmit credit/debit card information, maintain a secure environment thereby guaranteeing the protection of cardholder data throughout the transaction process. The standard also facilitates the broad adoption of consistent data security measures globally.
The Bank met the six different security pillars required to achieve the PCI-DSS compliance which led to the award of a level 1 PCI certificate and the subsequent re-award after extensive audit by a leading Qualified Security Assessor (QSA), ControlCase, from the United States of America, in partnership with its local partners Digital Encode, an information security management firm. The level 1 PCI certification is the highest rank available from the major credit card providers (Visa, MasterCard, American Express, Discover and JCB) and this is only given to third-party providers who meet the Council's stringent - and audited – credit/debit card transaction security protocols to protect customers' personal transaction data.
The award of this certificate is a strong indicator that FirstBank consistently has its customers' interest at the core of its business operations, is committed to securing customer information as well as maintaining a safe and secure environment for customer transactions. The Bank would continue to drive initiatives that stimulate innovation in banking as part of its promise to always put customers at the heart of its business.
According to the GMD/CEO, First Bank of Nigeria Ltd., Mr. Bisi Onasanya, the Bank will strive to continually maintain leading best practice and secure customers’ information despite the challenges posed by rapid changes in technology and the operating environment. “FirstBank has attained the highest level in the PCI certification for the major credit card providers and is poised to uphold the standard to abate card data theft and the resulting fraud” he said.
First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc, is Nigeria’s leading financial services institution by total assets and gross earnings and one of the largest corporate and retail banking financial institutions in sub-Saharan Africa (excluding South Africa). Since its establishment in 1894, the Bank has consistently built relationships with customers focusing on fundamentals of good corporate governance, strong liquidity, risk management and strong capitalization.
FirstBank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,464 ATM’s and over 9 million customer accounts. The Bank provides a comprehensive range of financial services and has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, Banque International de Credit (B.I.C) in the Republic of Congo, International Commercial Bank (ICB) in Ghana, The Gambia, Guinea, Sierra-Leone and Senegal as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
FirstBank is the recipient of many awards. The Bank has been named “The Best Bank Brand in Nigeria” three times in a row – 2011, 2012, 2013 – by the globally renowned “The Banker Magazine” of the Financial Times Group. FirstBank’s brand purpose is to always put its stakeholders, customers and partners at the heart of its business, even as it is poised to standardize customer experience and excellence in financial solutions across Sub Saharan Africa, in consonance with its brand vision “To be the partner of first choice in building your future”. The brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on the FirstBank’s inherent values of passion, partnership and people, to position its customers first in every respect.
For three consecutive years, 2012, 2013 and 2014, FirstBank was named the “Best Retail Bank in Nigeria” by the Asian Banker International Excellence in Retail Financial Services Awards. Other recent awards include the “Best Bank in Nigeria” in the Euromoney Awards for Excellence, “Best Bank in West Africa” and “Most Innovative Bank in Africa” in the African Banker Awards, “Best Bank in Nigeria” in the EMEA Finance African Banking Awards for the fourth time, “Best Foreign Exchange Services in Africa” in the EMEA Finance Treasury Services Awards, “Best Banking Group in Nigeria” by World Finance Banking Awards, and “Best Financial Reporting Company” by Africa Investor.
Head, Marketing & Corporate Communications