How Does LevelCredit Keep Data Safe?

Many of us are reluctant to input our bank details anywhere online. And with good reason: we all have seen the stories of cybercrime, data breaches and identity theft. A company asking for our financial details is a surefire way to prompt a Google search. This is very smart. And we hope you are reading this very article after asking Google, ‘Is LevelCredit safe/legit/secure/a scam?’ There is nothing more important to us than ensuring that our customers know that their data is safe and secure with LevelCredit.

It is no exaggeration to say that data security is our number one priority. We have spent years refining our security standards. LeveCredit is what is called a “data furnisher” - meaning we act as a go-between for individuals and credit bureaus. Our entire company reputation and business model is based on our ability to protect the data we pass back and forth.

So how does LevelCredit secure data? 

To secure data throughout the exchange, we stick to security protocols that are as stringent as those of the financial industry.  

Any personal information you give us is treated like Fort Knox gold; we either lock it in a secure, encrypted digital vault, or we entrust it to a major bank. 

We run on the same security architecture as our partner product, RentTrack, which processes millions of dollars every single day in rent payments.

How does our security system work?

• When you connect to your bank, you are using a secure service from Visa called Plaid to log into your bank and give us access to your transactions. This service is used by many of the top financial technology firms in the country. We do not store your login credentials, and you will occasionally be asked to re-enter them as a result.

• When you provide your bank account or credit card details to pay for your subscription, your data is securely transmitted to our payment processor, where we exchange that information for a unique token that only we can use. We use state-of-the-art cryptographic algorithms, and we never store sensitive credit or banking data on our servers.

• Encryption is baked into our whole system: Our database, our communications, our partner integrations. We constantly upgrade our encryption to the latest technology as it becomes available.

• LevelCredit is PCI-compliant. This means we have all the security technology and controls in place to meet the requirements established by the Payment Card Industry for processing credit cards. We regularly conduct audits of our processes and systems.

• LevelCredit is governed by KYC (“Know Your Customer”), AML (“Anti-Money Laundering”) regulations, and is FCRA-certified. This means we thoroughly vet the identity of all parties involved in any transaction, and ensure the accuracy of all the data we collect and report.

• A team of dedicated staff members spends their days checking reports and responding to alerts in order to keep everything watertight.

• We regularly undergo penetration tests conducted by qualified third-party security assessors to ensure that we are successfully implementing our controls.

If you’re interested in LevelCredit, but have further questions about our security, please do contact us.