News provided byCloudera, Inc.
Aug 22, 2024, 09:00 ET
As AI drives business value in the financial sector, this milestone underscores Cloudera’s commitment to security and compliance
SANTA CLARA, Calif., Aug. 22, 2024 /PRNewswire/ — Cloudera, the only true hybrid platform for data, analytics, and AI, today announced it has achieved Level 1 compliance with the Payment Card Industry’s (PCI) Data Security Standard (DSS) for Service Providers. This certification demonstrates Cloudera’s commitment to cybersecurity and compliance in its mission to help financial institutions unlock business value from AI. With this milestone, Cloudera’s Platform as a Service (PaaS) and Private Cloud (PVC) are both PCI DSS v4.0 compliant, the newest major version of the framework.
PCI DSS standards define rigorous security controls and processes for entities involved in the payment ecosystem, as well as requirements for developers and solution providers to build and securely manage payment devices, software, and solutions for the payment industry.
As the rise of e-commerce has rapidly scaled the amount of data that financial institutions have under management, the need to protect that data has grown as well. According to the International Monetary Fund’s 2024 Global Financial Stability Report, the financial sector is the target for one-fifth of all cyber-attacks, and this risk is largely driven by its dependence on third-party IT providers. Certification with the most recent security standards for the PCI is a testament to Cloudera’s ability to quickly adapt to the latest financial sector security requirements, where threats are constantly evolving and becoming more sophisticated.
AI has also transformed the financial sector in recent years, with financial institutions adopting virtual assistants, creating synthetic data for model training, generating research reports and investment summaries, and harnessing machine learning for fraud detection. As the vendor to eight of the top 10 global banks, Cloudera helps financial institutions harness the power of AI and Generative AI while navigating the associated risks, providing a secure environment for managing the vast volumes of data needed to train AI models.
“The financial services industry is undergoing significant digital transformation, and the ability to work with trusted third-party solution providers is critical to success” said industry analyst, Sanjeev Mohan. “Financial institutions can view compliance with rigorous frameworks, like PCI DSS 4.0, as an indicator that the partner they’re choosing to work with is one that can securely navigate the complexities of their data and thrive in this AI-powered future.”
“Cloudera’s achievement of this certification is a testament to our commitment to our financial sector customers,” said Natalia Belaya, Cloudera’s Chief Information Security Officer. “We strive to provide and maintain a secure and trusted platform to support our customers with evolving data initiatives and empower them to unlock greater value from AI.”
To learn more about Cloudera’s compliance certifications, and the company’s commitment to cybersecurity, visit the Cloudera Trust Center.
About Cloudera
Cloudera is the only true hybrid platform for data, analytics, and AI. With 100x more data under management than other cloud-only vendors, Cloudera empowers global enterprises to transform data of all types, on any public or private cloud, into valuable, trusted insights. Our open data lakehouse delivers scalable and secure data management with portable cloud-native analytics, enabling customers to bring GenAI models to their data while maintaining privacy and ensuring responsible, reliable AI deployments. The world’s largest brands in financial services, insurance, media, manufacturing, and government rely on Cloudera to be able to use their data to solve what once seemed impossible—today and in the future.
To learn more, visit Cloudera.com and follow us on LinkedIn and X. Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.
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