Following this announcement, the ISO 27001 certification will provide Stitch with further focus on information security, while also maintaining high safety standards and optimising customer experience.
In addition, the company is expected to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
The ISO 27001 represents a globally recognised international standard that outlines best practices for an Information Security Management System (ISMS). The certification was developed to ensure that businesses take the necessary steps to protect their information systems and the data they work with.
By securing this certification, Stitch’s will continue its commitment to security at a globally recognised standard. This process is expected to significantly optimise customer confidence, as well as provide enterprise clients with the possibility to feel safer while sharing their personal and financial information.
When a merchant selects a PSP, as part of the evaluation procedure, due diligence reviews must be performed to minimise supplier risks. This certification will also make it simpler for traders to perform due diligence checks on Stitch because it shows that a rigorous external security audit has already been performed on our business and that we will be reviewed annually.
At the same time, ISO 27001 is not a requirement for regulatory and compliance certifications in the region of South Africa, but it aims to help in the strategy of establishing a comprehensive Information Security Management System (ISMS) while providing a framework that aligns with international regulatory requirements, particularly across EMEA.
Included in the mandatory clauses of ISO 27001 are general information, the context of the organization (which creates the ISMS Scope that sets the boundaries of your system and the applicability of the controls), leadership, planning, support, operation (risk treatment plan and risk assessment report to mitigate the risks that might arise as a result of the company’s scoped operations), performance evaluation (which establishes a procedure for monitoring and measurement of record, including the documented process for the performance of internal audits and management reviews), and improvement.
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