Delivering Security in a Rapidly Changing World
Banking and financial institutions have some of the most demanding industry IT compliance requirements. And as digitization increases, so does the complexity of cyber-attacks.
Digitization of banking and financial services has shifted daily transactions to mobile apps and online portals and has become the key enabler for making customer experience fast and seamless.
In turn, the aim is to satisfy and retain customers by offering analytics-driven products and simplified services. These demands need to be satisfied in order for financial institutions to succeed in what can now be considered to be a highly competitive market.
Ultimately, the changes that have been made by these institutions have been seamless. However, in many instances, unwanted security concerns have evolved and fraud and phishing attacks have increased dramatically.
Given the severe consequences of a security breach, it’s critical to build on reliable and proven cryptographic cybersecurity solutions.
Use Cases for Banking & Financial Services
On-premise Data Security for Banking & Financial Services
Protecting sensitive financial and personal data at rest, in use, and in motion with reliable encryption and access management.
Security for Cloud-stored Data for Banking & Financial Services
Data security in the cloud enables the adoption of cloud usage for efficiency, scalability, and flexibility and mitigates risks around data loss and breaches.
Enabling Compliance in Banking & Financial Services, Atalla AT1000, Cryptosec Banking
The Atalla AT1000, and Cryptosec Banking HSMs have the latest compliances when it comes to: Payment Processing Standards, TR-31 Key Block, PCI PTS HSM, and FIPS 140-2 Level 3.
POS (Point of Sale) Security
Customers need to make purchases and complete transactions in a secure environment. Organizations must therefore use POS systems security to prevent unauthorized access and reduce the risk of credit card information theft.
Secure CNP (Card Not Present) Transactions
As the cardholder information is more difficult to verify, and there is a higher risk of fraud associated with a CNP transaction, the payments need to go through a secure gateway.
Security for Cashless Payments
As convenient as cashless payments are, they do increase the vulnerability to hacking, data breaches, and customer data sharing with third parties. Organizations need to protect their customers' purchase history, and privacy.
Digital Currency Transactions
Digital currency needs digital protection: Providing blockchain-specific algorithms and wallet protection to enable secure digital currency transactions.
Digital Identity Management / Secure Electronic Identification and Transactions
Digital Identity Management is the base for Know your Customer (KYC) verification processes, used to prevent financial crime and money laundering. Cryptography-based solutions enable digital customer authentication and identity management.
