Historically, one of the biggest targets for criminals has been the financial services industry. The cyber-attack on institutions to obtain passwords, financial data, and personal information has replaced traditional bank robberies.
Financial institutions hold highly sensitive customer data such as personal identification information (PII), which includes names, addresses, birth dates, and social security numbers as well as transactional data including credit card details, bank account numbers, and e-wallet information.
This data can be abused by attackers for financial gain, including fraud and identity theft.
However, the banking and financial services industry – like many other industries – is now largely digitalized as services are provided over digital platforms. These digital banking platforms and systems require the secure usage, transmission, and sharing of data (including the interconnection of these systems to third-party providers and services) to prevent any data interception by unauthorized third parties.
Therefore, it is highly important for organizations in this industry to implement data protection solutions in compliance with data privacy regulations and standards, including GDPR and PCI Data Security Standards for the secure transmission of cardholder data.
Utimaco provides various data protection solutions from data encryption, to tokenization, including dedicated payment hardware security modules.
Applications for on-premise Data Security for Banking & Financial Services
Software-based File and Folder Encryption
Reliable data encryption at the file and folder level to protect data against unauthorized access and to fulfill data protection regulations.
Key Management
Sensitive data must not only be encrypted, but also kept secure while in motion, in use, or at rest. Reap the benefits of properly managing your encryption keys.
Securing blockchain-based applications
Specific generation of private and public keys used for blockchain transactions and secure storage of all related digital assets in a blockchain.
Virtual Key Management
Cost and flexibility are the 2 main motivations to manage keys virtually instead of on-premise.
Secure File Sharing
Enables secure but easy-to-manage data sharing with third parties without running the risk of data interception.
Post Quantum Cryptography
Strong, quantum-resistant lattice-based and stateful hash-based cryptographic algorithms for encryption and digital signature use cases.
Hardware Security Modules for General Purpose Use Cases
Enables key generation, storage, and exchange. Addresses various performance levels and physical security requirements while fulfilling compliance and regulatory mandates.
Tokenization
Replacing sensitive data with non-sensitive tokens enables secure business operations without sharing sensitive information.
Converged Hardware Security Modules
Enables true multi-tenancy on a single platform. Deployed as HSMaaS supporting general purpose, payment, and all other use cases and compliance requirements.
Payment Hardware Security Modules
Tamper-proof, hardware-based, available, redundant, secure, reliant, and complaint – is how a payment HSM should be.
