The BFSI vertical is always on the lookout for advanced security products and services due to the high security and data protection needs across various ends, such as industry employees, customer assets, offices, branches, and online banking and secure transactions. Therefore, the BFSI vertical holds a significant share of the total enterprise key management market. In today’s digitally interconnected world, BFSI is one of the most omnipresent industries prone to application attacks. Therefore, banking solutions require high-end proactive enterprise key management software and solutions. Additionally, the managing keys used for encrypting sensitive data in this sector are very different and critical.
Enterprise key management solutions are increasingly adopted in the BFSI vertical because organizations in this vertical need to ensure the PCI DSS regulatory compliance. The sector is continuously upgrading its processing and transaction technologies and thereby requires end-to-end security solutions to optimize operations against internal and external threats. In addition to this, the BFSI industry frequently introduces new and improved financial products and services to enhance business operations. This makes the vertical an attractive territory for fraudsters who intend to target sensitive customer information. With facilities such as smart banking, internet banking, and mobile banking, payment data security becomes a priority for organizations in the BFSI vertical. The encryption technology offers financial security, online fund transfer security, and data security by encrypting files, data, and emails. The encryption keys used for the encryption process are created, managed, and deleted with the help of enterprise key management solutions and services. Enterprise key management solutions also offer other additional benefits, such as centralized management, regulatory compliance monitoring, and administration process streamlining.
Enterprise Key Management Software in BFSI
Holding more than 35 years of legacy in creating innovative technology solutions, Quantum Corporation stands as an undisputed leader in the industry. Quantum Corporation’s Enterprise Key Management technology allows the organization to protect and preserve sensitive information for decades. With Quantum Corporation, organizations can efficiently and securely manage their encrypted data. Also, the storage of cryptographic keys and policies can be carried out effectively throughout the enterprise and critical management lifecycles.
The creator of.ZIP format also introduced a data protection solution known as Smartcrypt, which is a solution to data discovery and encryption key management. Along with serving its data encryption solutions, the company continues to expand its.ZIP file format standard by introducing ZIP Reader–a ZIP file reader, PKZIP–reduces the file size or used to decompress files, and SecureZIP–compress and encrypt files, emails, and attachments.