How Do Companies Protect User Data?

Feb 26, 2024

It’s 2024, and day-to-day life is getting more digitized than ever. 

Clearly, there are many benefits to this. For example, online transactions are a lot simpler and faster now thanks to digital payment technologies like virtual wallets. 

But there’s a downside to digitization, too: A lot of people have legitimate concerns about how companies are protecting their users’ data. 

How many people? According to the Pew Research Center, a whopping 79% of Americans

So, in this article, we’re going to cover some relevant security certifications and policies that certain companies use to help protect your data. 

As a bonus, we’ll also cover a few actionable steps you can take to keep your data safe online. 

What to learn more? Let’s get started.


First off, let’s start with a quick definition of what SOC means and the differences between SOC I and SOC II. 

Basically, SOC stands for System and Organization Controls. It’s an exam that applies to entities offering services related to user control systems, including companies that handle payments. 

But what’s the difference between SOC I and SOC II reports? 

SOC I looks at how securely a business handles customers’ financial data, while SOC II examines a business’s operations and compliance based on specific criteria, like security and processing integrity. 

HIPAA Compliance

HIPAA stands for the Health Insurance Portability and Accountability Act. One big goal of this Act is to make sure patients’ medical records are kept private and don’t fall into the wrong hands. 

Because in a time when a person’s health records can easily be shared online, having strict privacy guidelines has become even more important than before. 

PCI Compliance

Payment card industry (PCI) compliance refers to twelve specific security requirements that companies must follow to keep their users’ financial info safe, from installing a firewall to restricting access to cardholder data. 

Beyond the legal requirement, PCI compliance is important because it can help reduce the risk of data breaches that can lead to huge problems like identity theft.

Nacha certification

Unlike PCI compliance, which is a business requirement, getting a Nacha certification is a voluntary way for third-party senders to demonstrate their compliance with Nacha’s rigorous ACH payment processing standards. 

In other words? This certification shows that a company has gone the extra mile.

Okay, now that we’ve covered some certifications and policies out there that help keep user data safe, what are some things you can do to protect your data online? 

That’s what we’ll look at next.

What You Can Do to Protect Your Info Online

Here are a few steps you can take right now to reduce the risk that your data will be compromised in the future.

Don’t use the same password across different accounts

Though reusing passwords is convenient, it’s not a good idea because it makes it much easier for hackers to access more of your personal information. 

Think about this: If they gain access to one password, they’ll try the same password for other accounts. Don’t make it that easy for them to steal your data. 

Don’t save your passwords to your browser

Your browser isn’t the most secure place to store passwords. For one thing, it gives anyone who uses your computer access to your accounts, which is never a good idea. 

Another reason? Your browser is a target for malware. Instead, opt for a password manager browser extension. 

Be wary about sharing personal information online

All kinds of sites incentivize sign-ups in exchange for your info. And sometimes, these sites do a good job of protecting your data. 

But other times? Not so much. 

That’s why you should think twice before sharing anything about yourself on the internet, like your name and contact details. 

Use multi-factor authentication (MFA)

There are several apps you can use to add a layer of protection to your accounts, including Duo and Authy. 

And even though accessing your accounts becomes slightly more of a hassle if you go this route, there’s a huge benefit: Gaining access to your private info becomes much more complicated for hackers, so it’s well worth it. 

Bottom line

In a time when cyberattacks happen every 39 seconds, how payment companies protect user data has never been more important. 

At Genius Avenue, we adhere to all the certifications and policies discussed above to make sure that our clients’ data stays private and safe. 

We use Microsoft Azure technology to put security, scalability, and reliability first and give our users the peace of mind they deserve.

Ready to partner with us?

Get in touch with a Genius today! 

Grow, Connect, Optimize and Automate

We empower the insurance and benefits industry with custom capabilities and innovative, customer-centric solutions that connect products to consumers and increase bottom line.

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