Focused on Data Security
The highest priority for Finsphere’s engineering team is to create a secure operational environment for its customers. Finsphere works with some of the largest banks in the world to provide authentication solutions and as a result, all of Finsphere’s services adhere to the same strict data protection and application security standards that are employed by the banks themselves. This means Finsphere’s products and services are a safe, secure way to authenticate users.
Finsphere’s engineering team follows five basic principles to ensure customer data remains secure:
- Principle # 1: Be the Experts – The team consists of specialists in the field of privacy and data security, with particular expertise in online services, financial services, and cellular communications.
- Principle #2: Minimize Personal Information – Finsphere uses the absolute minimum of personal information to authenticate users and monitor for fraud. The Identity Authentication Services (IAS) platform is regarded as a cutting edge, privacy-enhancing technology, based on the minimal use of personal data. By using the mobile phone as a proxy for identity, Finsphere is able to drastically reduce the amount of personally identifiable information (PII) required.
- Principle #3: Embrace Industry Standards – The ISS platform was built and is operated in compliance with internationally recognized security standards. Among others, Finsphere adheres to the Payment Card Industry Data Security Standard, the CTIA Location-Based Services guidelines as well as ISO 27001 Information Security standard. Finsphere’s privacy and data security policies, based on these standards, include encryption of all data, both during transmission over public or private networks and while stored in Finsphere servers. The PinPoint consumer service is operated from a Tier IV Data Center, the highest standard for data center security and redundancy.
- Principle #4: Independently Validate – Finsphere data security and privacy policies have been verified by multiple third parties, including Verisign, TRUSTe, McAfee, and the US Department of Commerce Safe Harbor Program. PinPoint is also accredited by the Better Business Bureau (BBB).
- Principle #5: Aggressively Monitor – The Finsphere team, as well as its security partner McAfee, constantly monitor internal systems for suspicious activity.