eIDAS – Proving a Competitive Advantage to Banks (Part 2 of 2)

 

In Part 1 of this series, we looked at how the competitive landscape for the financial services industry is shaping out in 2019. Digital challengers are encroaching upon business services that banks traditionally had a monopoly in. However, by making the most of the tools that regulators and governments are providing them, banks can turn threats into opportunities.

We look at how banks can take their prospecting efforts to the next level, benefit from the omni-channel revolution and really leverage their local security standards to make themselves more appealing internationally. We continue that conversation here in Part 2.

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eIDAS – Proving a Competitive Advantage to Banks (Part 1 of 2)

The financial services industry is no stranger to intense scrutiny as well as extreme competition. These two forces have shaped banks over the course of the last several decades, especially since FinTech start-ups and established BigTech firms have started encroaching upon traditional banking territory. This is why banks are always looking for tools and processes that can help them satisfy all stakeholders – especially the customers and regulators.

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How eIDAS is Levelling the Playing Field for Small Businesses

SME’s are the backbone of any economy. They provide jobs to a much broader cross section of society and strengthen the economic foundation of nations. The EU has numerous regulations in place to help SME’s grow and prosper and uplift the local communities that they operate in as well. However, no matter how friendly the regulations may be, the biggest challenge for SME’s remains their small size. They just don’t have the resources, the manpower or the capital to compete head to head with their larger counterparts.

But is it possible to level this playing field a bit? Can we change some things up that can reduce transactional costs to a non-prohibitive level for SMEs? Let’s take a look at just how the eIDAS regulation can help level the playing field by alleviating, at least partially, some of the main SME pain points.

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Steps to reach crypto agility to get prepared for quantum computing

As the scientific community continues to push towards achieving quantum computing on a mass scale, smart companies are busy making preparations for this inevitability. While scientists disagree on whether its 5 years away or 20 (or more), the reality is that the amount of time that organizations have to prepare is quickly slipping away. These preparations go far beyond just planning for new infrastructure investments. This is especially true when it comes to the use of cryptography and crypto keys. Whether you are just beginning to plan for the quantum future or are well down the path, here are three important steps that will help you achieve crypto-agility and prepare yourself for quantum computing.

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International Trade – Building Trust with eIDAS (Part 2 of 2)

We looked at how eIDAS has the potential to enhance trust and thus reduce costs when it comes to international trade transactions in our previous article. This article continues on a similar theme, exploring the role that something like eIDAS can play in the digitalization of global trade, and also in the trade of digital goods.

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International Trade – Building Trust with eIDAS (Part 1 of 2)

International trade is based on the concept of trust. In situations where there isn’t some established trust, the trading parties get their respective banks involved and use various trade finance products like Letters of Credit to ensure that both sides adhere to the terms of the trade as laid out in the contract. It is this trust that fuels global trade and countries where it can be strengthened, generally tend to become the preferred trading partners over time. It is this focus on trust in international trade that brings us to the topic of this two-part series. This article focuses on how eIDAS can help establish trust between trading partners not just across the EU but around the world.

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Achieving Agile Cryptography Management with Crypto Service Gateway (CSG)

CSG helps you realize business-agile and efficient crypto services, with central control of security policy and crypto hardware. In this article, we will look at some of the uses cases that address common crypto headaches whilst generating a strong return on investment.

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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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Selecting the right Key Management System

The protection and secure management of cryptographic keys is crucial for ensuring that cryptography is used in the most effective way to keep data secure. Picking the wrong key management system (KMS) can thwart all the efforts that have been made in using cryptography to protect information.

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