With the ever increasing number of online services and electronic transactions, business owners are becoming ever more dependent on the use cryptography to prevent sensitive information from cyber attackers.

In this article, we discuss the various issues and present Cryptomathic’s approach to central key and crypto management that has been adopted by major banks. 

Recent revelations in the press have caused industry experts to question just how much trust can be placed in existing cryptographic standards or even in certain methods of generating key material. Companies must be prepared to respond quickly and effectively to such changes in the security landscape, else they risk reputational damage and significant costs in the event of a breach.

To understand why this preparation is challenging, we should consider how cryptography is commonly deployed within a business.

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To date the deployment of encryption services and the techniques used to achieve interoperability and technical standards have always lagged behind what businesses have actually needed, or for that matter, what regulators or certain schemes are enforcing.

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Development Projects Situations     

This second decade since the Millennium is seeing a major uplift in the use of cryptography in existing and new business systems. This uplift is likely to be disproportionately greater than the actual increase in business transaction volumes.

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Managing Hardware Cryptography in the Enterprise since the Millennium

There has been a substantial increase in the use of cryptographic techniques and Hardware Security Modules (HSM's) in larger commercial enterprises, and banks in particular, since the upsurge of online services in the late 1990's. Invariably this has been undertaken on a project basis, with each project having its own goals and initial budget.