IBM’s mainframe computers have been a rock-steady part of banks’ security infrastructure for many years. Originating from the local data-center concept, the current release is able to stretch banks’ security architecture across the hybrid cloud, harnessing advantages of on-premise and cloud-native software deployments - all without compromising data security and privacy.
Traditionally, end-to-end lifecycle key management was achieved through inefficient paper-based procedures and highly resource intensive tasks performed by 4 or 5 employees, but this inefficient process leads to human errors and is very time and resource consuming. Centralized cryptographic key management is the best solution to overcome such dependency on individuals.
This article discusses the advantages of using a centralized key management system.
Many organizations struggle with cryptographic key management for multiple reasons. However, these pain points can be resolved with the right tools.
With the growing need for cryptography to protect digital assets and communications, the ever-present security holes in modern computer systems, and the growing sophistication of cyber attacks, it has never been more important or harder to keep your cryptographic keys safe and secure.
A single compromised key could result in a massive data breach, resulting in reputational damage, punitive regulatory fines, and a loss of investor and customer trust.
The use of cryptography is the foundation for the secure processing of financial and other electronic transactions. On the other hand, the management of the associated cryptographic keys has been equally effective at stressing the capabilities of your people, processes, and systems. With that in mind, here are three benefits that automated key management will give you and your organization.
The modern world of cybersecurity can be a confusing place. There are tons of data, regulations, and mandates in addition to the complex technical aspects. This is especially true when it comes to crypto key management systems (KMSs).
Banks and financial institutions must adhere to a rigorous set of security and regulatory practices to protect data, communications, and processes.
Securely managing cryptographic keys is typically the most difficult part of encryption. In the recent Ponemon Institute survey, Global Encryption Trends Study, the following nine types of keys were identified as the most difficult to manage:
Over the last 10 years, enterprises have moved on from decentralized and distributed key management to centralized key management systems to provide secure and unified key life-cycle management.
