Vanta Adds PCI DSS Compliance Solution to Security Monitoring Platform

SAN FRANCISCO, Oct. 26, 2021 /PRNewswire/ -- Vanta, the leader in automated security compliance, today announced the launch of an automated solution that helps companies prove compliance with the Payment Card Industry Data Security Standard (PCI DSS), the global standard that applies to any online business that accepts, processes, stores or potentially impacts the security of cardholder data. Vanta's new PCI DSS solution automates up to 60 percent of the work needed to prove compliance, making it the first in the industry to offer holistic automated PCI DSS compliance.

According to Risk Based Security's 2021 Mid Year Report, credit cards and financial data accounted for 32 percent of the 18.9 billion records exposed in data breaches just in the first half of 2021 alone. Being able to demonstrate PCI DSS compliance is critical particularly for companies in the payments, fintech and insurance industries, both to current customers who require compliance annually and as a prerequisite to earning new business. 

However, proving PCI DSS compliance is labor and cost intensive. For startups looking to innovate in the payments and related fintech industries, compliance can be demonstrated by filling out self-assessment questionnaires (SAQs), which requires weeks or months of research into the eight different SAQs on the market on top of expensive consulting fees for policy templates and guidance. For service providers or merchants with higher transaction volumes, preparing for and completing the required Report on Compliance (ROC) reviewed by security assessors can take up to a year, making it a drain on the company's operations and resources. 

Vanta's streamlined PCI DSS compliance solution takes the guesswork out of understanding and completing assessments and reports by automating more than half of the work needed to prove compliance. This will save businesses time and money while enabling them to successfully prove that their payment systems and processes are secure and consumer data is protected against future data breaches.

"The online payments and fintech industry is bigger than ever, which means more consumer data than ever is vulnerable to data breaches," said Christina Cacioppo, Vanta CEO and founder. "We're excited to launch the industry's first automated PCI DSS compliance solution, which is key to protecting credit card data and instilling trust in the online services millions of consumers and businesses rely on every day. Vanta is committed to supporting the security of startups innovating in the fintech, banking and payments spaces."

Earlier this year, Vanta launched a private beta program to research and determine what is most important to their customers when it comes to PCI DSS compliance. Real-time engagement network and payment platform Flow Networks participated in the beta program. Flow Networks Co-founder Klas Hesselman explained, "When you lead the payments industry through a transformational change, trust is a foundational pillar; there are no shortcuts. PCI DSS compliance was therefore a high priority for us. Vanta's expert team helped analyze our compliance requirements and shared what was needed to complete an SAQ-D. Vanta's platform provides automatic monitoring of controls and this allows us to effectively manage any issues discovered. Because of this, we accelerated our timelines, saved hundreds of hours and thousands of dollars in costs."

Companies looking to leverage Vanta's new solution can connect Vanta to their technology stack to first understand where they stand in meeting PCI DSS compliance requirements. Customers are then able to prioritize and take action where needed with confidence that they're taking the necessary steps. Once they're finished, customers can easily generate password-protected PCI DSS compliance reports to share with new business prospects – or to expedite the completion of a SAQ or ROC.

Vanta's PCI DSS solution is the latest addition to the company's integrated security monitoring platform, which is currently relied on by nearly 2,000 fast-growing businesses to more easily and quickly prepare for and achieve SOC 2, ISO 27001, HIPAA and GDPR compliance. Vanta's automated solutions enable companies to demonstrate their security posture to partners and customers, including those outside the U.S., ultimately helping protect customer data and restoring trust in online businesses.

To learn more about Vanta's PCI DSS compliance solution, visit: www.vanta.com/products/pci.

CONTACT: Sarah Horowitz, [email protected]

SOURCE Vanta

Related Links

https://www.vanta.com