Accion Microfinance Bank has achieved a major milestone in digital security by earning the Payment Card Industry Data Security Standard (PCI DSS) certification under the latest version 4.0.1. The certification was announced on Tuesday by Cybervergent Limited, a cybersecurity firm responsible for the assessment.
This new certification means that Accion MFB has met the global standard for protecting cardholder data. PCI DSS is an internationally recognized benchmark that ensures financial institutions follow strict rules when handling, storing, or transferring credit and debit card information. It helps prevent card fraud, theft, and data breaches.
In a statement shared with journalists, the bank said the achievement highlights its strong focus on securing customer transactions and maintaining trust in its payment platforms.
The Managing Director and Chief Executive Officer of Accion Microfinance Bank, Mr Taiwo Joda, described the certification as a major step forward in strengthening customer confidence. He said, “In today’s digital environment, where cyber threats are getting more complex, achieving PCI DSS compliance shows that we are serious about protecting our customers and keeping our payment channels safe.”
The certification assures customers that their card transactions are better protected against cyberattacks. This development is especially important in Nigeria, where more people are using digital platforms and mobile banking services, and concerns over financial data security are growing.
Accion MFB said the new certification is part of its ongoing efforts to follow international best practices and deliver secure services. The bank has also recently earned three ISO certifications: ISO 20000-1:2018 for IT service management, ISO 27001:2022 for information security, and ISO 22301:2019 for business continuity management.
These certifications show that the bank is investing in strong systems to manage its technology services, protect sensitive information, and maintain operations even during disruptions.
Over the years, Accion Microfinance Bank has grown to become a trusted name in the microfinance sector, serving low-income earners, small business owners, and informal workers across Nigeria. It has also introduced various digital and financial products aimed at promoting financial inclusion, especially among women and youth.
Mr Joda said the bank will continue to put customers at the centre of its operations. “Our focus is on making sure our services are safe, reliable, and accessible. These certifications are proof that we’re building a secure banking experience for our customers,” he said.
Cybersecurity experts say certifications like PCI DSS are important for Nigerian banks and fintechs, especially as the country records a rising number of digital payment users. They advise more financial institutions to take data security seriously and invest in standards that protect users from online fraud and cybercrime.
With this latest certification, Accion MFB joins a small group of Nigerian financial institutions that have met the tough standards required to protect card transactions. It also positions the bank to do more business with international partners who demand strict data protection policies.
