AmbironTrustWave, a leading provider of data security and compliance management solutions, has joined the Financial Institution Shared Assessments Program as an assessment firm member.
Created by BITS, a nonprofit financial services industry association, to streamline and standardize the evaluation process of service provider partners, the program efficiently and consistently assess providers security standard, using two assessment tools. The Shared Assessments questionnaire streamlines nearly all financial institution security objectives, and once answered by the service provider, creates a detailed snapshot of security controls in place to ensure that the highest level of security is met. The second tool is the Agreed Upon Procedures (AUP) document that provides 45 control points used to create more detailed reports. Both measures are suitable for most any financial institution-service provider relationship, and saves time and money for both parties, while also expediting turnaround time.
By joining the Financial Institution Shared Assessments Program as an assessment firm member, AmbironTrustWave connects with a conglomerate of industry leaders focusing on maintaining and implementing security best practices for the financial sector. Through continued vigilance and communication with top financial industry leaders, the Working Group enacts critical IT, security and compliance controls to meet the continued challenges of the industry.
âWe chose AmbironTrustWave because as our PCI assessor, they have a great deal of industry experience and can leverage that within our organization by moving forward with our BITS assessment,â said Darrell Granahan, vice president of compliance and privacy, First Data Corporation.
âWeâre proud to be part of a program that streamlines the needs of nearly all the different financial institutions into one common understanding to effectively deliver the best possible security standards,â said Robert J. McCullen, chairman and CEO, AmbironTrustWave. âOur continued commitment to the security industry and ability to proactively maintain the highest controls makes our participation in the Financial Institution Shared Assessments Program a positive fit.â