Peter Smirnoff & Dawn M. Turner (guests)

Symmetric Key Encryption - why, where and how it’s used in banking

In today’s cyber-world there is an ever-present risk of unauthorized access to all forms of data. Most at risk is financial and payment system data that can expose the personal identifying information (PII) or payment card details of customers and clients. Encryption is crucial for protecting PII and mitigating the risks that businesses which conduct payment transactions face every minute of every day.

In this article we will talk about symmetric encryption in banking, its advantages and some challenges of managing the keys.

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