💪 Building Trust with Robust Data Protection at Wallester
At a time when securing digital data is essential, Wallester, an innovative financial technology company, proudly announces the successful extension of our esteemed PCI DSS Level 1 certification.
This significant accomplishment represents Wallester's unwavering promise to safeguard customer information and provide exceptional service in the payment industry. Working alongside a well-known consulting and auditing company 7Security GmbH which specialises in information security, Wallester has demonstrated its commitment to meeting the highest data protection standards.
This certification guarantees that Wallester's systems and processes are secure and durable, assuring customers that their sensitive cardholder data is handled with the utmost care. By acquiring PCI DSS Level 1 certification, Wallester affirms its position as a reliable and trustworthy partner for secure online transactions.
👍 Collaboration with 7Security GmbH: A Testament to Dedication
Our esteemed partner, 7Security, has provided us with valuable insights on the assessment process, which we would like to share with our readers involved in Fintech or card payments.
According to Pavel Kaminsky, 7Security's CEO, the PCI DSS Level 1 assessment is the highest level of compliance within the Payment Card Industry Data Security Standard framework. This standard is mandatory for organisations in the FinTech industry that handle cardholder data, whether they are involved in its processing, storing, or transmitting.
Complying with PCI DSS ensures that proper security measures are in place to protect cardholder information and reduce the risk of data breaches and fraud. The standard is updated periodically, and Wallester's next significant milestone is to achieve the latest version, 4.0 - an endeavour 7Security will assist us with.
⭐ Empowering Customer Confidence with PCI DSS Compliance
Achieving PCI DSS Level 1 compliance is essential for building customer trust and safeguarding their data. It also helps companies avoid penalties and reputational harm resulting from non-compliance.
When a company decides to become part of the payment card industry and obtain the necessary certifications, choosing the right consultant, such as 7Security, is essential. They specialise in helping FinTechs navigate the seemingly complex process of PCI compliance.
According to 7Security, "PCI compliance is like being born - it happens once, and after that, you simply celebrate your birthdays." This year, everyone at Wallester had a fun "birthday party" celebration.
"In our pursuit of excellence, Wallester's growth is evident through our expanded team and renewed PCI DSS Level 1 certification. This underscores our unwavering commitment to data protection, cementing our role as a trusted partner for secure online transactions. This achievement is more than validation; it's a testament to our promise of safeguarding sensitive information. As we celebrate, we recommit to our core principles—collaboration, innovation, and dedication. Our journey continues, illuminated by our past and a brighter future ahead." - Sergei Astafjev, CEO of Wallester.
⏱️ Proactive Compliance: Smooth Path to Certification
“The thought of undergoing the initial PCI DSS assessment may seem overwhelming, but it's actually easier than you might think” - Pavel says.
Often, FinTechs come to 7Securitiy with the belief that PCI compliance is a complicated and intimidating procedure. However, there are multiple ways to streamline your journey to compliance.
During the first assessment, documenting and optimising PCI scope may take longer. It is the time when 7Security provides extra support and as much guidance as needed. The extra effort at the start is worth it as it allows the company to grow, maintain PCI compliance throughout the year, and recertify in the future with more ease.
The outcome is determined by whether the company’s processes are well documented and implemented in full compliance with PCI DSS requirements. After completing the process once, companies will better understand what to expect the following year. Although work is still to be done, the business will be well-prepared.
Wallester had already implemented many security measures when a collaboration with 7Security started. 7Security ensured they were well and properly documented, suggested some improvements to meet the PCI DSS requirements fully, and performed an audit to assess and formally attest to Wallester’s compliance.
🚀 Wallester Ensures Robust PCI DSS Compliance with 7Security's Expert Guidance
Wallester has implemented the best practices of PCI DSS by using only PCI DSS-compliant AWS serverless components for its cardholder data environment and connected components. This means that no human access is allowed in the PCI environment. Wallester has also adopted the most effective approach for CI/CD systems, where new code releases are automatically fetched and subjected to unit tests, static code analysis (GoSec, GolangCI-lint, and others), code coverage, and integration tests. These measures have enabled Wallester to ensure the security of its PCI DSS environment without compromising on its maintenance.
7Security’s role was to point out Wallester to the relevant PCI DSS requirements, interpret them where needed, and help Wallester find defendable and modern solutions to each issue. They supported Wallester, increasing the teams’ competence in the process so that we were prepared to pass the assessment and maintain a compliant environment.
Pavel Kaminsky highlighted that:
“Initially, the main challenges were related to Wallester navigating the process for the first time. Nevertheless, we have extensive experience in assisting companies with their first PCI DSS assessment, and we provided comprehensive consultancy services to Wallester. They were receptive to our advice and dedicated significant effort towards preparation for the assessment. As a result, the audit proceeded seamlessly, and Wallester demonstrated complete adherence to the PCI DSS requirements.”
Pavel observed that although some companies merely perform PCI to fulfil their compliance obligations, Wallester distinguishes itself with its true dedication to security and proactive approach. The team was highly engaged and demonstrated exceptional commitment throughout the project.
“In contrast to some companies that resist change, Wallester welcomes it. The team eagerly explored cutting-edge solutions, exchanged ideas with us, and sought our guidance. It is a delight to collaborate with such like-minded individuals who prioritise compliance, security, and efficiency.” stated Pavel.
Dmitri Logvinenko, CTO of Wallester has to say:
"Demonstrating proactive compliance, Wallester embraced the PCI DSS assessment with determination. Collaborating with 7Security streamlined the process, ensuring meticulous documentation and improvements for full compliance. Our commitment to data security includes best practices like exclusive use of PCI DSS-compliant AWS serverless components. Working with 7Security equipped our teams with increased competence for a compliant environment. We take pride in our commitment to innovation and are always open to new ideas and solutions.”
💡 Best Practices for Data Security and Future Growth
At Wallester, we are proud of our accomplishments, and we look forward to continuing to be a reliable and trustworthy partner for secure online transactions, providing our clients with the best possible service while ensuring the utmost security of their data.
For other companies aspiring to achieve the same level of data security as Wallester, several best practices stand out:
- Adopting a serverless architecture for the PCI DSS environment optimises efforts and scalability.
- Simplifying policies and procedures ensure adherence, and investing in employee training enhances security awareness.
- Regular participation in industry conferences and events promotes knowledge exchange and staying updated with evolving trends.
- Turn to professionals such as 7Security to get a better understanding of the process and recommendations for seamlessly attaining PCI DSS certification.
Wallester's attainment of PCI DSS Level 1 certification is a significant milestone that reinforces its position as a leader in the financial technology industry. By prioritising data protection and customer trust, Wallester sets a commendable example for other companies striving to achieve excellence in the digital payments landscape. As technology continues to evolve, Wallester's proactive approach and commitment to security will undoubtedly keep us at the forefront of the industry.