Paladion Grants Bayan Credit Bureau the ISO 27001 Certification

Global full-service managed detection and response provider Paladion announced today that it has granted the ISO 27001 certification for Information Security Management to Bayan Credit Bureau, a leading Corporate-focused Credit Bureau in Saudi Arabia specialized in Trade Credit. Bayan Credit Bureau obtained the certification by the International Organization for Standardization, assisted by Paladion during the preparation leading up to assessment by an independent external organization. To achieve ISO 27001 compliance for Bayan Credit Bureau, Paladion experts performed a risk assessment of the company’s security policies. They then implemented an information security management system (ISMS) designed to satisfy the ISO 27001 standard. Released in 2005, the ISO/IEC 27001 has rapidly become the most widely recognized international standard specifically for Information Security management. ISO 27001 takes a top-down, risk-based approach to information security without being technology-specific. Its specification covers documentation, management responsibility, internal audits, continual improvement, and corrective and preventive action. Amit Roy, Regional Head of Paladion for the Middle East, said, “We are delighted that Bayan Credit Bureau has achieved this prestigious certification. The adoption of an information security management system was a successful step towards achieving international standards. The certification involved the coordination of all operational security controls across the organization’s electronic and physical information resources; demonstrating mature information security capabilities.” Bayan’s Director of Information Security, Mr. Ramzi AlThumairi stated that “keeping our customer’s data secure is our highest priority. Bayan Credit Bureau leaves no stone unturned to ensure the highest level of protection for our Information systems as well as safeguarding member and consumer data with the latest international standards of information security. The successful completion of our ISO 27001 certification is testament to the mature Information security processes at this young company.” Being the first credit bureau in the kingdom to specialize in Corporate Trade Credit information, Bayan has collected large amounts of corporate and trade-related data on Saudi companies from official sources such as the Ministry of Commerce (MOC), Ministry of Labor and Social Development (MLSD), General Authority of Zakat and Tax (GAZT), as well as many other entities in the Kingdom of Saudi Arabia including Corporates, Banks, Semi-Governmental entities, and SME’s. As of today, Bayan has obtained data of over 1 million commercial registrations in Saudi Arabia, more than 85,000 audited financial statements, and has access to over 200 million companies around the globe. Needless to say, Bayan is the first business intelligence provider in the kingdom to exercise impeccable accuracy in its analytical reports; since each piece of information in a single Bayan Report is corroborated by at least 3 companies with similar transactional data. Bayan provides several key services to businesses. Its Credit, Financial and Trade Intelligence reports help enterprises to make mutual agreements with other enterprises at home or abroad through transparency. The analytical tools it has developed allow enterprises to understand and improve their credit performance with relevant benchmarking. Its credit services to international standards help enterprises to reach their trade goals and maintain a solid financial standing. Paladion has implemented and achieved ISO 27001 certifications for hundreds of clients across the world. Paladion provides reduced implementation time, streamlined reporting, comprehensive end-to-end service, an ISM framework tailored to each client’s requirements, and automation and customizable certification workflows. About Paladion: Paladion is a global cyber defense company that provides Managed Detection and Response Services, DevOps Security, Cyber Forensics, Incident Response, and more by tightly bundling its AI platform – AI.saac and advanced managed security services. Paladion is consistently rated and recognized by leading independent analyst firms, and awarded by Frost & Sullivan, Asian Banker, Red Herring, amongst others. For 18 years, Paladion has been actively managing cyber risk for over 700 customers from its 5 AI-Driven SOCs placed across the globe.