With a presence in many of the largest banks, retailers, IoT device manufacturers, and corporations, Futurex, with its team of experts, has a unique perspective on the latest cryptography developments. Ryan Smith, vice president, global business development at Futurex, offers up what’s trending in cryptography:
- Key management. Managing keys is a hot issue, especially when dealing with access rights to the data, legal ramifications of outsourcing and how risks are mitigated. In a recent The Green Sheet article in which Smith was interviewed, he states there’s a need for broader, more robust key management in today’s integrated and increasingly interoperable landscape, in which more parties are sharing data.
- Cloud-based data security hardware security modules (HSMs). Enterprises and financial services organizations are increasing their adoption of cloud-based data security infrastructure. With new developments in cloud adoption, regulatory compliance, and greater data residency capabilities — and HSMs in the cloud, the infrastructure is in place.
- HSM flexibility. Organizations have different options with HSMs: on-premises, cloud, and hybrid. It is vital that encryption keys are secured in a private environment.
- Encrypted key loading. With the growth of mobile-based terminals, encrypted remote key loading has become a necessity, ensuring that the utmost security and compliance requirements are met to remotely inject encryption keys anytime wherever they are deployed.
- Contactless payments with CPoC. Contactless payments eliminate the need for card reading hardware and provide a high level of security, extending the point of sale beyond the checkout counter. CPoC-based applications, with their transaction processing functionality and high level of security, make them advantageous for all merchants who need payment agility and scalability.
- Data encryption delivered via a service-oriented architecture. Organizations have ever-increasing volumes of applications and services that require strong cryptography with HSM-backed data encryption and key management. Organizations are looking at other options and looking to experts.
- Tokenization replaces actual data with a token that is worthless to hackers. This is being implemented cross-industry — spurred out of the need for PCI DSS compliance and organizations’ desire to reduce their compliance scope.