Secure Digital Transformation
Banking & Financial Services

Secure Digital Transformation

Identity and authentication are key to digital transformation as consumers are increasingly turning to online and mobile channels. Therefore, robust customer identity verification and authentication capabilities are essential for delivering a secure and trusted customer experience.

Whilst digital transformation offers many opportunities and benefits, it also poses significant challenges around data security and ensuring that the data is trusted and reliable.

Digital transformation can be driven by leveraging digital technology in terms of connectivity, stability and efficiency whilst building security into the core of the business.

Trusted Processes

Applications for Trusted Digital End-to-End Processes

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Qualified Electronic Signatures & Qualified Seals

Digital signatures leverage PKI certificates to offer the highest levels of security for regulated and sensitive document use cases like account openings, loan applications, investment/private banking, including insurance documents and agreements. In compliance with regulations such as eIDAS, they also provide legal assertion.

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Multi Factor Authentication

Multi-factor authentication securely restricts access to the banking infrastructure and reliably identifies the user. Hardware security modules (HSMs) generate, manage and store the secure cryptographic keys required for authenticating a user or device in a broader network.

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Code Signing

HSM-based code signing is the most secure way to physically and digitally secure code. If the code is tampered with after signing, then the signature will be invalid and no longer trusted. Signing keys are protected and can only be accessed by authorized users or systems.

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Tokenization of Payment Data

With widespread adoption of tokenization for multiple purposes, it’s no longer “good enough” to encrypt clear data and offer a surrogate. Utimaco provides tokens produced from FIPS 140-2 Level 3 certified RNGs with AES-256 encrypted keys.

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5G Security

With 5G networks being built on software based models, ensuring security from the infrastructure layer to the application layer is an essential factor for consideration. HSM-protected 5G creates secure channels between devices and the bank.

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Blockchain

The integration of HSMs into a blockchain solution secures the privacy and security that may be lost by distributing proprietary software to an untrusted network of blockchain operators. By storing private keys and data within the HSM, data integrity and user authentication can be dramatically improved. Proprietary code can even be stored and run fully within an HSM to protect intellectual property.

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Post Quantum Crypto Agility (Future Proofs and PQC)

At this time, no quantum computer can run quantum algorithms, however once they are able to, these computers will decimate the security infrastructure of the digital economy. Post-quantum crypto-agility is a necessity for the financial services infrastructure to be able to evolve in the advent of a new generation of attacks and consequently evolving cryptographic standards and algorithms.

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