Banking is one of the most electronic industries in our modern society. Regardless of the banking segment, e.g. savings, wealth, corporate, investment and so on the financial services industry requires a significant level of security. There are three main reasons why security is paramount in banking:
- Regulation and compliance, e.g. PCI
- Direct financial loss associated with security breaches and fraudulent transactions
- Indirect loss associated with reputation in case of a security breach
Approximately two thirds of Cryptomathic's customers are active players in the financial services industry. Many of these offer direct customer services, such as banks, card payment schemes and investment organisations while others are third party vendors, e.g. data processors, personalization bureaux and system integrators.
Cryptomathic supplies a wealth of solutions to the banking industry and these range from card payments, internet and telephone banking, to authorisation and secure management systems.
Cryptomathic products used in the banking sector are centred around four groups: