Robust data security in the cloud enables banking & financial services to offer efficiency, scalability, flexibility, and productivity.
In this age of digital transformation, the banking and financial sector is heavily integrating cloud usage for data processing and storage into their operations. These cloud-based solutions enable them to expand their business, drive innovations, and provide rapid services to customers.
However, as the cloud size increases, so do attack surfaces. And these attack surfaces can create new vectors of attack. Intruders can target cloud platforms causing threats to business continuity, resulting in potential data loss, breaches, as well as reputational damage to business. This necessitates an ongoing responsibility for the banking & financial sector to have strong cloud data security controls in place.
Cloud data security can be achieved through various methods that allow users to fully or partially control their sensitive data while it is at rest or in motion.
Applications for Security for Cashless Payments
Double Key Encryption
Enables protection of sensitive data by securing encryption keys in the HSM and Azure cloud. Without access to both keys, the relevant data remains securely encrypted.
Multi-Cloud Key Management
A bring-your-own-key strategy (BYOK) allows to securely orchestrate services and data flows across multiple clouds and countries, including customers' local data centers.
General Purpose Hardware Security Modules
Enables key generation, storage, and exchange. Addresses various performance levels and physical security requirements while fulfilling compliance and regulatory mandates.
BYOK and HYOK
Select the key management solution by hosting encryption keys in the cloud provider’s platform or retaining the ownership control of customer-managed encryption keys.
Tokenization
Replacing sensitive data with non-sensitive tokens enables secure business operations without sharing sensitive information.
