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Gresham Obtains PCI DSS 3.2 Accreditation

By CIO Applications Europe | Friday, August 16, 2019

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Bill Blythe, Global Business Development Director

With heightened security measures, banks will be able to address the changing technology and customer needs.

FREMONT, CA: As cybercriminals and their strategies are continually changing, the regular functionalities of distributors are repeatedly deescalating. Presently, unauthorized breaches have gained such a momentum that even the retail industry has become a vulnerable target to the attackers. Because of this and with the numerous cyberattacks happening every day, distributors are stepping up their safety maturity.

Comprehending the associated risks, together with the practical steps to minimize them, Gresham Technologies, a  supplier of real-time transaction monitoring and business data integrity solutions, released its Clareti Platform and related software development processes. The cybersecurity platform—Clareti—has attained the highest information processing security requirements in the world.

Banks are attempting to tackle these evolving client requirements through several distinct approaches. In a time when some companies choose floor up method to construct innovative digital banks, while others prefer to operate with FinTech expert suppliers, the availability of multiple modes proves to decrease the security of transactional systems. The attainment of PCI DSS 3.2 accreditation sets a benchmark for Gresham’s enhancement of state-of-the-art safety procedures and dedication toward world-leading data integrity, which will allow the clients to assess trustful functions within the Clareti Platform.

The PCI DSS 3.2 certificate is intended to prevent theft of cardholder information and relates to all organizations that store, process, or communicate cardholder data. Furthermore, it comes with stringent demands for databases designers and suppliers dealing with sensitive details. PCI DSS 3.2 versions include explicit criteria for using multi-factor authentication and relocation schedules to remove Secure Sockets Layer (SSL)/early Transport Layer Security (TLS).

Gresham uses 300+ information security procedures and norms and suitable annual vulnerability tests and scans for accreditation. With Gresham's adaptive and versatile approach being implemented continually in extremely delicate economic settings, the process of maintaining the highest safety standards in the financial world, and improving the indication of dedication to data integrity for various companies become effortless.

In order to guarantee confidentiality, Gresham recognizes card information as distinct from other information as well as applies particular encryption and masking algorithms. From hour to hour, problems related to data security between the dealer and the purchaser may result in a legitimate and valid need for someone engaged in investigating a problem to see the extent of the full card information. However, professionals introduce various steps to protect data integrity, including providing precise and consistent auditing when safety violation happens; time limiting access to single cards; and presenting supervision to discreet, steady retailers for eliminating the risk of deception.

Associating any implementation to the high standards expertise, Gresham offers instruction and paperwork to all its customers that need the greatest amount of application security. Since June 2016, Gresham has been approved by PCI DSS and attempts to renew its certificate as the industry-standards evolves to tackle trends in how payment information can be used to the detriment of people and organizations.

Since technology is at the heart of Gresham's company, they want to be the transformative tool for their partners. In an interview with CIO Applications Europe, Bill Blythe, Global Business Development Director, Gresham said, “We are headquartered in London, and expanding our international footprint rapidly with significant inroads already in North America and APAC. We already have over a third of the world’s G-SIB’s as strategic clients and on the buy-side, asset managers holding 20 percent of the worlds AUM use Clareti at the center of their data control processes.”

For its innovative contribution to the fintech space, Gresham was recognized as one of the "Top 10 Fintech Solution Providers" by CIO Applications Europe in 2019.

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