FPT IS and SHBFinance achieve PCI DSS certification milestone

SHBFinance has become one of the pioneering organizations in Vietnam to attain the international security PCI DSS certification at the highest level with version 4.0.

Navigating through 12 stringent requirements outlined in the PCI DSS payment data security standards, SHBFinance has been awarded the PCI DSS 4.0 (Level 1). The certification, bestowed by FPT IS – a Qualified Security Assessor (QSA) accredited by the PCI SSC Council – represents a significant milestone for SHBFinance in achieving their business breakthroughs for 2024.

Commencing in October 2023, SHBFinance worked closely with FPT IS to evaluate card business flows, assess the current state of their information technology infrastructure, implement technical solutions, and update their policies and regulations to align with the rigorous requirements of the PCI DSS standards.

FPT IS and SHBFinance completed the assessment and issuance of PCI DSS certification.

After only 6 months, SHBFinance and FPT IS completed the assessment and issuance of PCI DSS 4.0 certification at the highest level (Level 1). This achievement involved meticulous adherence to 12 requirements and nearly 300 detailed information security criteria, ensuring compliance with six major principles: Build and maintain a secure network, Protect cardholder data, Maintain a vulnerability management program, Implement strong access control measures, Regularly monitor and test networks, and Maintain an information security policy.

FPT IS provided invaluable support throughout the certification process, optimizing the scope of PCI DSS assessment, offering consultation on policy development and documentation, and executing requisite tasks to meet PCI DSS and Risk Assessment standards. This milestone has empowered SHBFinance to safeguard international card payment processes, foster a culture of security compliance among employees, and ensure compliance with international standards for card payment service providers. The attainment of PCI DSS 4.0 (Level 1) certification has affirmed SHBFinance’s efforts to uphold the highest standards of security not only within their card system but also across their entire IT infrastructure.

Mr. Quan Duc Minh – Delivery Director of Nextgen Technology Services Sector at FPT IS expressed pride in serving as a technology partner in this critical project for SHBFinance. “By cooperating in many projects with SHBFinance, leveraging FPT IS’s extensive experience in the finance and banking industry over the past 30 years, and coupled with our position as a leading PCI DSS Qualified Security Assessor Company in Vietnam, the collaboration with SHBFinance has culminated in a sucessful outcome. FPT IS expects the PCI DSS certification will create a solid foundation to enhance SHBFinace’s market position and expand its customer base.”

Mr. Nguyen Trung Hieu, Chief Information Technology Officer at SHBFinance emphasized, “Being granted PCI DSS certification is an significant milestone, assisting us to reach a new step in our digital transformation journey, particularly in bolstering the safety and security of our card system.”

Evaluating this process, Ms. Olena Khlon – General Director of SHBFinance – said, “SHBFinance highly appreciates the efforts of FPT IS and the project team for their meticulous approach and unwavering dedication, ensuring rapid progress and high quality of work, thereby not only improving service quality and information security but also minimizing risks for both the company and its customers. This is also SHBFinance’s key product for customers.”

PCI DSS enhances customer experience for SHBFinance.

PCI DSS (Payment Card Industry Data Security Standard) certification is imperative for businesses involved in storing, transmitting, and processing payment card data. Managed by five international payment organizations, namely Visa, MasterCard, American Express, Discover and JCB, it ensures data security, mitigates security vulnerabilities, and prevents unauthorized access and misuse of data.

SHBFinance, a member of Saigon – Hanoi Bank (SHB) and Krungsri Thailand since June 2023, has established and developed itself as one of the top 5 largest private banks in Vietnam over the last 30 years. Krungsri Financial Group, with 75 years of establishment and development, is a strategic member of the Japanese Financial Group MUFG, currently expanding its presence in five countries in the region.

After more than 6 years of operation, SHBFinance has ranked in the Top 8 largest consumer finance companies in Vietnam with a wide business network across 54 provinces/cities and more than 7,000 employees.

Currently, FPT IS is one of the few companies in Vietnam recognized as a Qualified Security Assessor (QSA), thereby being able to consult, assess and issue PCI DSS certification. From 2015 up to now, FPT IS has been trusted as a partner in implementing this service for many large banks and financial institutions such as MB, SeABank, Eximbank, Lotte Finance Vietnam, One Mount Group, FE Credit, PVComBank, etc.