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Management's Assertion Regarding the Effectiveness of Controls over the NIC Online Banking Services based on the Ernst & Young Cyber Process Certification Criteria.
We understand that for many of you, NIC Bank Limited is your first experience with Internet Banking and you may be concerned about security issues, confidentiality and integrity of your information being handled via the Internet.
NIC Bank would like to take this opportunity to assure of our commitment to protect your personal and financial information. We have the security technology and industry leading processes in place to protect your information while it is stored or processed inside our systems.
We have earned Ernst & Young's Cyber Process Certification Seal of Assurance. This was awarded after an assessment of controls based on the Ernst & Young Cyber Process Certification Criteria which are in accordance with Internet banking standards established by the Federal Financial Institutions Examination Council (FFIEC). The assessment has verified that NIC Bank Limited has designed appropriate controls for transaction-based Internet banking capabilities. The controls are as follows:
- The Internet banking activities are consistent with the nature and complexity of NIC Bank’s operations;
- Board and management oversight of Internet banking activities with respect to strategy, planning, management reporting, and audit has been enforced;
- The Bank has implemented appropriate administrative controls to ensure the availability, and integrity of processes supporting Internet banking services; and
- The Bank’s understanding and management of legal and compliance issues associated with Internet banking activities is relevant and comprehensive.
Our commitment to these principles and criteria is ongoing. Our information security assurance partners, Ernst & Young, examine our information protection and security measures and privacy procedures to verify our continuing compliance with Ernst & Young's Cyber Process Certification Criteria. Once you become an NIC Bank customer, your personal information will remain both private and secure.
James Macharia
Managing Director
NIC Bank Limited
January 30, 2008
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