Transacting online has become more commonplace than ever before. Activities such as online banking, e-commerce, and even investing depend on technology as they involve the exchange of sensitive and confidential information. And with the number of financial transactions soaring, securing these transactions has become a top priority for businesses in every sector.
But the threat landscape has grown increasingly complex, marked by determined and well-funded adversaries, with sophisticated tools at their disposal; to the point where common wisdom when it comes to threats is that it is no longer a matter of “if”, but rather “when”.
This is why a growing number of companies have turned to encryption technology to help them secure their financial transactions and other confidential data, both at rest and while in transit. Encryption serves as a means to ensure secure communications and keep them safe from third-party interference. It involves the use of mathematical algorithms to transform data into an unreadable form, to keep it safe from the prying eyes of bad actors and other malefactors.
For businesses that conduct financial transactions, encryption technology has provided value for many different business use cases. It safeguards online banking transactions, mitigates credit card fraud, protects digital signatures during fund transfers between accounts and serves other critical functions.
By employing encryption, businesses could effectively shield sensitive financial information from threat actors looking for personal gain or intending harm to customers. Additionally, encryption assists companies in complying with regulations like the Protection of Personal Information Act (Popia) or the General Data Protection Regulation (GDPR).
To unpack encryption further, as well as how businesses could harness its benefit to protect their financial transactions, Altron hosted a webinar on 20 June, themed, “Encryption: shielding financial transactions and confidential data from prying eyes”. Watch the webinar on-demand above.
Compliant
At the event, industry experts unpacked how data encryption could help ensure companies remain compliant with data privacy regulations, as well as enjoy the benefits that embarking on an encryption journey brings to an organisation.
They also unpacked what regulations recommended in terms of data encryption and data encryption best practices. In addition, they discussed why data encryption had become a critical part of the security mix and delved into the pain points that could be solved by using data encryption in the business.
About Caryn Vos
Caryn Vos, senior manager for crypto at Altron Systems Integration, has specialised in information security for more than 20 years, during which time she has dealt with all facets of this industry. This has given her a deep and broad understanding of information security as a whole. While she has focused on the financial services sector for many years, she has also worked with most industries during the course of her career. She has built an extensive network throughout the channel and end-user customer base and has extensive experience in dealing with end users as well as through partners. For more information, contact Vos via LinkedIn.
About Altron Systems Integration
A specialist provider leveraging world-class technology and leading practices to build, implement and support sustainable ICT-based business solutions which are strategically aligned, fit for purpose, cost effective and optimised for performance. We have highly skilled, experienced professionals directed at solving business critical customer problems through consultative approach. We also bring our collective knowledge to every deployment engagement. From legacy integration to digital transformation, our solutions catalogue includes the full spectrum of ICT services. Few other organisations can claim the depth and breadth of the capabilities and experience we provide. For more information, visit www.altronsystemsintegration.co.za or follow us on Facebook, LinkedIn and Twitter.
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