The Banking industry retains more data than ever before, and this brings a range of obligations and responsibilities related to how this information is processed, exchanged, stored and used. There is also the possibility of financial penalties if institutions have been found to have acted carelessly or unethically.
While banks are dealing with profitability, increased competition and meeting the needs of progressively mobile and connected consumers, maintaining and protecting data privacy is always one of the toughest challenges.
There is a common requirement across this industry- a necessity for the security of customer data whilst at rest, in motion or in use.
Applications for Trusted Digital End-to-End Processes
Public Key Infrastructure (PKI)
PKI ensures confidentiality, integrity, authenticity and non-repudiation of sensitive information. Encrypting data at rest and in transit guards it against theft or tampering, and guarantees that digital identity provides secure authentication of users and applications to protect against fraud.
Data and Database Encryption
Effective database security has become increasingly important- without a comprehensive strategy, a great deal of sensitive data could be at risk. Database encryption using HSMs protects and secure sensitive data.
Blockchain
The integration of HSMs into a blockchain solution secures the privacy and security that may be lost by distributing proprietary software to an untrusted network of blockchain operators. By storing private keys and data within the HSM, data integrity and user authentication can be dramatically improved. Proprietary code can even be stored and run fully within an HSM to protect intellectual property.
Post Quantum Crypto Agility (Future Proofs and PQC)
At this time, no quantum computer can run quantum algorithms, however once they are able to, these computers will decimate the security infrastructure of the digital economy. Post-quantum crypto-agility is a necessity for the financial services infrastructure to be able to evolve in the advent of a new generation of attacks and consequently evolving cryptographic standards and algorithms.
