About the white paper
The payment ecosystem contains some of the most complex and vulnerable processes that we have today. It involves many players, as well as highly sensitive data, making it a prime target for complications and attacks.
All these stakeholders must work together to provide a security solution that protects customer information because this entire system is only as strong as its weakest link. At the heart of this security landscape sits a Hardware Security Module (HSM). Most likely many HSMs.
HSMs are considered the highest level of security and are rated and certified using the FIPS 140-2 standard. At a glance, a bank HSM must secure the financial information in transit during a transfer from one bank to another, translate PINs between different time zones, and securely protect cryptographic keys; which are in transit inside payment networks.
Adding to the requirements of protecting all this data are the expectations that the banking industry should be able to accommodate rising customer expectations. Consumers expect anytime, anywhere banking with refined websites and applications. So, as security requirements change and get more stringent, banks will still need to find a way to be nimble.
In this white paper, we will provide greater insight into the payment ecosystem, outline recent changes and new security requirements, as well as make recommendations around choosing the best HSM.