What is EI3PA?
EI3PA or Experian’s Independent 3rd Party Assessment is an annual assessment of a Third Party’s ability to protect the data provided by Experian, as it deals with sensitive consumer information involving credit history. Experian and its Third Parties are at huge risk if the consumer information is compromised. Hence, this assessment is designed to monitor and assess those systems and third parties that receive, transmit or store Experian data.
Created in 2009, EI3PA follows the latest data security guidelines for the industry, using PCI Data Security Standards (PCI DSS) as a reference. While the PCI DSS defines the controls that should be there to safeguard cardholder data, EI3PA aims to secure credit history information.
If your company is involved in storing or disseminating sensitive credit information, which is accessed via Experian, your systems are subjected to detailed assessment. EI3PA occurs annually and helps to increase the credibility of the third party processors.
Why you need EI3PA Compliance?
EI3PA is of significance to any 3rd party providers/resellers dealing with Experian’s credit data. Since Experian provides valuable data to lots of resellers, they have taken significant steps to maintain the quality and security of data transmission. The magnitude of the protection offered by a reseller is analyzed and it determines the future of their partnership with Experian.
PCI-DSS deals with the protection of cardholder data, whereas, Experian only deals with the information they provide in this compliance. The reporting requirements of the merchants are analyzed and approved solely by Experian. The issuer of the card or the issuing bank has no control over this matter.
Experian has a simple policy and they qualify only those vendors for EI3PA, who have already performed PCI assessments. A double-layered security check happens here so that customers are more protected than ever. Only authorized Qualified Security Assessors (QSA’s) such as SISA, are required to carry out the process of assessment.
Why work with SISA?
SISA is one of the pioneers in the space and has extensive experience helping companies across the globe with various compliances, including EI3PA. Much like the audits of PCI DSS, we help you meet the 12 requirements of EI3PA. We work with you to ensure that you are capable of safeguarding important credit history information and if there are any vulnerabilities, our assessment helps you in discovering them. SISA has helped a number of reputed organizations get this assessment done easily, given our expertise and familiarity with the audit requirements. Our QSAs assist you in this complex process and helps you in managing the requirements easily. We provide effective methodologies and offer helpful advice, which saves time and brings results quickly.
There are numerous reasons to choose SISA for the extremely crucial EI3PA Compliance.
- Deadlines hold tremendous importance here and we understand that very well. We are focused on offering you professional help. We will help you get the compliance certification on time.
- We offer you a comprehensive solution that is powered by the latest tools and most effective processes. This helps you secure the sensitive data in the most efficient way.
- SISA has the most talented and efficient assessors, who are meticulous and professional. Our team is accessible round-the-clock, working with you as partners, helping you meet your compliance goals.
- We help you reduce costs significantly and improve the security standards. We analyze the various workflows and associated data paths to make efficient solutions. This helps to improve the data environment and omit unnecessary steps.
Our approach, the SISA edge
At SISA, we work very closely with you and effectively design consistent compliance processes that build your credibility and help you in growing your businesses. For EI3PA compliance we follow this approach:
- Performing the gap analysis – We conduct an effective gap analysis in the preliminary stages, which helps in preparing the necessary documentation. We identify and discuss the problematic areas, which can act as an obstacle in getting EI3PA Compliance.
- Onsite Assessment – We conduct an onsite assessment next. This helps us in reaching the compliance goals without paying any fines.
- Audit Remediation – Based on the gaps and vulnerabilities identified, we look at remedial action to close those gaps.
- Preparing the compliance report – When the remediation issues are solved, we prepare the final report to be submitted to Experian. We create the report after meticulous checks and audits to ensure there are no errors.
EI3PA is an important standard for anyone accessing Experian data. Therefore, if you are a 3rd party provider or reseller, you must comply with EI3PA to ensure your business relationship with Experian is maintained. The EI3PA guidance changes periodically and may not be easily available. Therefore, SISA ensures that we inform you fully about the requirements and help you execute the whole process smoothly. Get in touch with us to know more!