First Security Product from Data De-Identification Company to Protect Financial Data.
SecuriKey, a software tool for financial services that provides a strong, unified security layer across all computing environments, including cloud, on-premise, and mobile devices, was unveiled by TripleBlind, the market leader in automatic, real-time data de-identification. The solution guards against fraud and account takeover (ATO) for businesses and their clients. With the ability to “bind” a device to a user and implement a zero-trust approach to transaction security, TripleBlind’s SecuriKey is the first security product to protect businesses and their customers. TripleBlind was one of the first companies to deliver true secure multiparty computation (SMPC).
One of the most significant assets for clients is money, which is stored, protected, and moved around by the financial services sector. The modern-day equivalent of bank robbers, hackers persistently try to evade the security measures put in place by financial organizations. As a result, usernames and passwords are frequently stolen and discovered on the dark web. With the banking sector’s quick adoption of mobile banking, attack surfaces have grown more challenging to manage, creating significant difficulties in reducing the danger of account takeover. SecuriKey uses a combination of device authenticators and a secret/token sharing to make sure a person is accessing their financial accounts on a recognized device. To prevent single point of failure vulnerabilities, each share is merely a portion of a whole key that is distributed among several devices.
The following elements make up SecuriKey:
- Threat Protection – The Virtual Hardware Security Module (vHSM) solution from TripleBlind uses a zero-trust approach to transaction security, ensuring sincere use and lowering the likelihood of malicious use.
- Seamless Integration – SecuriKey integrates without any specific hardware across a wide range of devices and ecosystems, including cloud and on-premise servers, mobile devices, and personal computers.
- Compliance Upkeep – SecuriKey complies with all pertinent security and compliance regulations, including GDPR and SOX, as regulatory compliance is a major focus in the financial services sector.
“Financial institutions have tremendous hurdles to protect client data in a time when data breaches and cybersecurity attacks are on the rise.” Riddhiman Das, co-founder and CEO of TripleBlind, stated, “We developed SecuriKey as an additional layer of defense for financial institutions and their consumers, seeing this vital need. SecuriKey seamlessly integrates with existing apps, making it unnoticeable to customers while still offering a layer of security that makes financial apps almost impenetrable without having biometric information and physically holding a device.”
The TripleBlind Privacy Suite, one of the company’s current product offerings, pairs well with TripleBlind SecuriKey. The Privacy Suite includes the financial institutions-focused products Privacy Network, Privacy Fortress, and Privacy Builder.
- As a single, compliant network, Privacy Network enables cross-organizational collaboration while ensuring the privacy of sensitive data.
- Collaboration between organizations and invited partners is made possible by Privacy Fortress. Fortress offers a military-grade solution that safeguards data while it is being used and complies with all international privacy laws.
- Organizations may design new products, platforms, and more using Privacy Builder on top of TripleBlind’s tried-and-true data privacy technology. Builder quickens time to market without jeopardizing confidential data or intellectual property.
The underlying technology created by TripleBlind to de-identify data in real-time powers the TripleBlind Privacy Suite. This procedure takes place behind the firewall of the company, guaranteeing that it is secure and anonymous at all times. The products of TripleBlind adhere to additional international data privacy and residency rules in addition to HIPAA and GDPR.
Source: Globe Newswire