BillingPlatform, the leading global cloud-based monetization and billing solution provider, today announced it has significantly expanded its enterprise-grade security features that will help enterprise customers minimize regulatory risk and ensure the security and compliance of their critical customer data, especially in highly-regulated markets like financial services and healthcare. Key new features include application-level encryption, proactive, cloud-based threat detection services and automated development practices among others, providing customers with the most robust, multi-layered data security capabilities of any billing provider on the market.
BillingPlatform’s secure architecture protects confidential customer, billing and payment data through its cloud-based solutions and ensures compliance with General Data Protection Regulation (GDPR), California Consumer Privacy Act (CCPA), Security Operations Center (SOC) Level 1 and 2 and Payment Card Industry (PCI) Level 1. Capabilities such as role-based permissions allow customers to define user-specific access down to the field level. Customers can also define which data changes require approvals for tasks such as updating pricing, adding new services or changing account data, to further ensure total control. BillingPlatform’s audit logs centralize all user activity, allowing customers to track changes on any data element, including changes to configuration and data modifications to see what actions users have performed, what changed and when.
Also read: Three Critical Factors for Keeping Enterprises Safe from Cyber Threats
To further enhance existing security and compliance functionality, BillingPlatform has added the following new features:
- Application-Level Encryption – Highly-sensitive or user-defined data is encrypted prior to storage, adhering to FIPS 140-2 encryption Level 2 or Level 3 standard. In addition, a customer can manage the lifecycle of encryption keys, thus guaranteeing control over the level of access granted to their data.
- Threat Detection – A proactive, cloud-based service that continuously monitors for malicious activity and unauthorized behavior to protect from unusual activity, such as anomalous traffic patterns, account changes and workloads.
- Code Safety and Reviews – This strict development process enforces manual code reviews along with automated deployment code scans using an industry-leading security vulnerability scanning tool and includes an audit of all third-party dependencies used within the application.
- Domain Name System Logs – Monitoring of traffic for all endpoints within the virtual private cloud as an input to threat detection services to alert for abnormal activity.
- Multi-Factor Authentication (MFA) – All infrastructure environments are protected by requiring multiple methods of authentication.
- Security and Compliance Standards – BillingPlatform is certified in SOC Level 1 and 2 compliances, PCI Level 1 compliance and also has Customer’s Third Party Oversight (TPO) with annual audits conducted by third parties.
“Data security is a major concern for businesses of all sizes. To address these concerns, we continually innovate new capabilities to enhance the security, compliance and auditability of our solution – from the foundational code level up through threat detection in our cloud infrastructure,” said Leo Solomon, CTO and co-founder of BillingPlatform. “This security strategy enables our customers to manage customer data with confidence through a secure and compliant billing solution that can adapt to any market regulation or standard, allowing them to worry less about security and focus more on the success of their businesses.”
In addition to adding new security capabilities, BillingPlatform also announced a new customer win and several accolades received recently. Kipu selected BillingPlatform to automate and modernize its billing processes to support its rapidly growing electronic medical records business. Last month, BillingPlatform was named to Constellation Research’s Constellation ShortList™ for Smart Services Digital Monetization Platforms for the fifth consecutive time and was ranked No. 1,547 on the 2021 Inc. 5000 after recording a three-year revenue growth of 305% based on rapidly growing customer and partner base, and new and expanded product offerings.
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