TECH LOCK, Inc. announces Vision Financial Corp has achieved the ARM Industry Gold compliance standard, TECH LOCK® Certified. TECH LOCK® Certified is a holistic compliance audit performed by data security professionals combining multiple regulatory and industry standard control objectives into a single audit to provide the agency cost savings and provide their clients with a true data security compliance validation.
With third party and fourth party risk on everyone’s mind these days, it is critical for companies to ensure they only partner with companies that are compliant. Typically a service provider is asked for a single audit standard which may not cover ALL of the applicable laws, standards or risks that TECH LOCK® Certified covers. For Vision Financial Corp, TECH LOCK® Certified included but not limited to, a review of Vision’s compliance with Red Flags Rule, GLBA Safeguards Rule, HIPAA, Massachusetts 201 CMR 17.00, Minnesota Plastic Card Security Act, Nevada NRS 603a, ISO 27002 and PCI DSS 3.0.
“Vision Financial is committed to protecting consumer information and providing our clients with a holistic view of our data security and privacy,” says Stewart Dauman, Vision Financial Corp’s chief executive officer. “Typically we see creditors or issuers inquiring about one or two standards on their RFPs or Questionnaires. Since we do all of the compliance items anyway, having them all reviewed by a third party to prove our compliance is a bonus. In addition to the differentiator of having over 8 audits done, Vision Financial Corp also chose an auditor with ARM Industry experience. There are many auditors out there performing audits in the ARM Industry but they have never worked at a collection company. Vision Financial Corp carefully chose TECH LOCK for their holistic audit and their ARM Industry expertise. We could have gone to anyone for an audit but we take our data security and that of our clients seriously, therefore we wanted the toughest audit in the industry performed by the most knowledgeable auditors in the ARM Industry. Although there is always risk, I sleep well at night knowing Vision Financial Corp. has been tested, passed, and is the safer choice for our clients.”
“It is refreshing to see agencies not doing the bare minimums,” says Todd Langusch, TECH LOCK’s founder and chief executive officer. “To echo Stewart’s comments above, only a small percentage of companies will spend the time, money, and resources to ensure compliance with all applicable federal and state laws. In the ARM industry the common practice I have seen is companies contracting with an independent third party auditor to obtain an audit report on one or two standards, however these reports are frequently in error or only provide a narrow view vs. a holistic audit capturing all applicable compliance requirements. Recently the Ponemon Institute released a couple key reports this year outlining the risks of using third and fourth parties. For Healthcare, a recent Ponemon report noted only 30 percent of those surveyed are very confident or confident that their business associates are appropriately safeguarding patient data as required under the Final Rule. Outside of healthcare, Ponemon Institute published ‘Aftermath of a Data Breach’ white paper where respondents noted insiders and third-parties are most often the cause of the data breach. These and other reports (Verizon Data Breach Investigation Report) are clear signs that companies using third parties need to make due diligence a priority and ensure the risk is properly addressed. Vision Financial Corp understands this and is ensuring a low risk partnership with their clients.”
Vision Financial Corporation. is a privately owned full service asset recovery management company founded in 2004 operating in two state of the art facilities located in Rockford, IL and St. Louis, MO. Vision is a strategic partner to many credit issuers in the country offering a full range of solutions across several lines of asset classes including Credit Cards, Retail, Student Loans, Healthcare, Auto, Wireless Telco, and Utilities. For more information about Vision Financial Corp, visit www.visionfinancialcorp.com
TECH LOCK, Inc. is a Payment Card Industry Qualified Security Assessor (PCI QSA), Approved Scanning Vendor (PCI ASV), and HITRUST CSF Assessor specializing in holistic information security, compliance, and information technology solutions. There is no “one size fits all” technology solution. TECH LOCK has the specialized knowledge, experience, and staff to understand your business and provide a solution that is aligned with your key goals and strategy. Unlike our competitors who are project-centric and will provide you with single regulatory view, our comprehensive audit and assessment services provide your business with a gap analysis for multiple regulatory initiatives to increase your return on investment. Our TECH LOCK® program assesses your environment for other applicable regulatory or established security standards and provides a detailed report to derive a holistic view of your information security posture. Compliance validation is performed in areas such as PCI DSS, HIPAA/HITECH Act, HITRUST, GLBA, Red Flags Rule, ISO 27002, FISMA (NIST 800-53), Nevada NRS 603a, Massachusetts 201 CMR 17.00, and CFPB Readiness. TECH LOCK is a service disabled veteran owned small business.