In financial services, the adoption of distributed computing has radically increased the speed and amount of customer data being transmitted, stored, or shared with business partners. As a result, there a growing number of regulations and laws that mandate the encryption of data including in 2005 the Federal Financial Institutions Examination Council (FFIEC) set a 2006 deadline for U.S. banking institutions to implement two-factor authentication to secure their transactions – a move that encouraged many institutions to increase interest in encryption. Today, encryption is used by institutions for the transmission of information across networks, as well as for storage of information on computers as well as the ever increasing cloud.
The lifeblood of any organization is data but where your financial information is concerned a breach can be crippling. The new compliance standards for PCI DSS, a requirement for any company that stores, transmits or processes credit card information and data-at-rest requirements within PCI DSS, can be challenging to navigate but are a business imperative in today’s hostile environment.
NetLib has been working closely with financial institutions for more than two decades to transparently protect their data with virtually no impact on performance. We understand the need for maintaining business stability while ensuring the highest levels of security are in place from insider and external threats.
NetLib’s patented data security platform, Encryptionizer, enables compliance for the encryption portions of the PCI standard to protect credit card data, and has become an increasingly integral component for executing PCI DSS compliance strategies and database encryption.