Provides State-of-the-Art Protection for Account and Credit Card Data
Scottsdale, AZ, (April 14, 2015) — Equiant, a Scottsdale, Ariz.-based account receivables servicing provider, has taken the security of consumer account and credit data to new levels. Equiant is a member of the prestigious Visa Global Registry of Service Providers (www.visa.com/splisting), which demonstrates Equiant’s commitment to the strict security standards required by the credit card industry and full compliance with PCI regulations. Visa recommends, “Clients and merchants should reference the site regularly as part of their due-diligence process and should only use service providers that are listed on the Registry for outsourcing their payment-related services.” Add to that the facts that Equiant is SSAE 16 Type 2 Compliant and has moved to a secure Tier IV Gold cloud-based data center, and the message is clear.
“We have taken every measure practical to ensure the integrity of our clients’ consumer data,” says Peter Moody, vice president of business development. “In today’s environment, when headlines constantly report data breaches, companies need to ensure that not only their own companies have protections in place, but also any vendors they share information with.”
A recently released Verizon 2015 PCI Compliance Report revealed that just 28.6 percent of companies are PCI level 1 compliant and more than 80 percent have failed interim compliance assessments. Equiant has maintained its PCI Level 1 status since 2011 and has successfully renewed annually.
The SSAE 16 (Soc. 1) Type II report examines controls at a service organization relevant to their internal controls over financial reporting. Organizations are required to provide the service auditor with a written description of their systems and their controls, as well as the effectiveness of those controls.
The move to a secure Tier IV Gold cloud-based hosting platform has led to several advantages for Equiant. First, the dedicated cloud environment has increased the security of Equiant’s data while assuring quick disaster recovery. Even better, the move has sped up report processing. “This has completely transformed our month-end reporting processes,” says Don Kim, chief information officer at Equiant. “Depending upon size and complexity, reports are completed and delivered to customers 500 percent faster on average, which means no more delays and very satisfied customers.”
Although the most recent data security efforts have been for electronic records, Equiant takes document custody just as seriously. Deeds and other collateral are stored in a secured document vault, engineered to a two-hour fire rating standard, with a pre-charged fire suppression system and a 24/7 camera with live monitoring for fire or security breaches. “Access to the room is controlled with a key fob reader that allows only certain security levels,” Moody says. “Even as a vice president, I can’t go in there.”
Equiant is one of the leading timeshare servicers in the United States with a serviced portfolio that exceeds $1 billion and includes more than 110,000 individual consumer loans. Over the past 28 years, Equiant has serviced more than 1.5 million loans and 1.25 million maintenance fees accounts. Its array of products includes receivables and maintenance fee servicing, invoicing and payment processing, point of sale merchant processing, delinquency control, on-site transitional staffing, document custody, trustee services, and analytic reporting. To learn more about Equiant’s industry-leading security and receivables servicing, call Moody at (480) 636-4888 or visit www.equiant.com.
PRESS RELEASE SOURCE: Equiant
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