However, proving PCI DSS compliance takes a lot of work and money. For startups looking to innovate in payments and related fintech industries, compliance can be demonstrated by completing Self-Assessment Questionnaires (SAQs), which requires weeks or months of researching the eight different SAQs on market in addition to expensive advisory fees for model policies and advice. For service providers or merchants with higher transaction volumes, preparing and writing the required report of compliance (ROC) reviewed by security assessors can take up to a year, putting a heavy burden on business operations and resources.
Vanta’s Simplified PCI DSS Compliance Solution simplifies understanding and performing assessments and reports by automating more than half the work needed to prove compliance. This will save businesses time and money while allowing them to successfully prove that their payment systems and processes are secure and that consumer data is protected from future data breaches.
“The online payments and fintech industry is bigger than ever, meaning more consumer data than ever is vulnerable to data breaches,” noted Christina Cacioppo, CEO and Founder of Vanta. “We are excited to launch the industry’s first automated PCI DSS compliance solution, which is essential for protecting credit card data and building trust in the online services that millions of consumers and businesses rely on every day. Vanta is committed to supporting the security of startups innovating in fintech, banking and payments.”
Earlier this year, Vanta launched a private beta program to research and determine what matters most to its customers when it comes to PCI DSS compliance. Real-time engagement network and payment platform Flow networks participated in the beta program. Co-founder of Flow Networks Klas Hesselman Explain, “When leading the payments industry through transformational change, trust is a fundamental pillar; There is no shortcut. PCI DSS compliance was therefore a priority for us. Vanta’s team of experts helped analyze our compliance requirements and shared what was needed to complete a SAQ-D. Vanta’s platform provides automatic control monitoring, allowing us to effectively manage any issues discovered. Because of this, we’ve sped up our turnaround times, saved hundreds of hours and thousands of dollars in costs..”
Companies looking to take advantage of Vanta’s new solution can connect Vanta to their technology stack to first understand where they stand with PCI DSS compliance requirements. Customers are then able to prioritize and take action where needed with confidence that they are taking action. Once complete, customers can easily generate password-protected PCI DSS compliance reports to share with new prospects or to expedite the completion of an SAQ or ROC.
Vanta’s PCI DSS solution is the latest addition to the enterprise’s integrated security monitoring platform, which nearly 2,000 fast-growing companies currently rely on to prepare and achieve more easily and quickly. SOC 2, ISO 27001, HIPAA and GDPR compliance. Vanta’s automated solutions allow companies to demonstrate their security posture to their partners and customers, including those outside the United States, helping to protect customer data and restore trust in businesses online.
To learn more about Vanta’s PCI DSS compliance solution, visit: www.vanta.com/products/pci.
CONTACT: Sarah Horowitz, [email protected]