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How safe is my data with Kiwi Wealth?

March 10, 2020



Discover how Kiwi Wealth protects your data as well as your money

data security

Cyber security was in the news last month after another KiwiSaver provider, Generate, had its computer systems breached.

Protecting data is an important issue, and at Kiwi Wealth we’ve always taken it very seriously.

One of our guiding principles is kaitiakitanga – guardianship and protection – and we apply that to your data as well as to your money.

Chief Technology Officer Craig Ward says Kiwi Wealth’s approach to security is called ‘defence in depth’.

“Defence in depth involves protecting data with multiple layers of defences, like the layers of an onion. If one layer fails, another layer is there to prevent against attack,” says Craig.

“We also carry out regular security tests to make sure our defences are strong.”

 Craig says we have our security assessed by a specialist cyber security company that provides an expert, unbiased view of how robust our systems are.

 The latest cyber security review found we have a defined security culture and follow best practice.

 It also gave areas of improvement to prioritise in the future to move to higher maturity levels. We’re continually working to improve our systems, and we share our knowledge and insights into cyber security with Kiwibank and other financial institutions.

 Matt Beach, Head of Customer Service, says data security is increasingly important to customers.

 “We’re getting more inquiries from customers asking what we do with their data, where we store their data and how we keep it safe,” he says.

 "I think it’s helpful that our entire customer services team is based in New Zealand, which makes it easier for customers to get answers to their questions. They trust us to give them balanced, factual information.

“Trust is one of our core principles – it’s one of the things that sets us apart. Customers have already made a decision to trust us with their money, and it’s important to us that they can also trust us with their data.”

Craig Ward says keeping customers informed is an important part of the cyber security incident response plan Kiwi Wealth would follow in the event of a cyber security breach.

 “We also believe it’s important for customers to know how to keep themselves safe online. For example, it’s good for customers to know that Kiwi Wealth will never ask them for their password,” he says.

You can get practical information and advice about keeping your information safe and secure online from CERT NZ, the government’s cyber security unit.

 

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