Enterprise Key Management Solutions (EKMS) using Secure Cryptographic Devices (SCDs) is the right way to go for encrypted key security in the Payments Industry.
The basic concept of encryption can be dated back as far as 500BC when the Hebrew alphabet was substituted with Atbash cipher; a monoalphabetic substitution. Some school of thought also argue that the first form of cryptography was a simple hieroglyphic substitution used in ancient Egypt as a form of communication. While technology continues to advance in all ramifications, there has been a paradigm shift, especially in encryption key management solutions for a more managed security and private systems to match the increasing cyber-attacks ravaging many enterprises.
In this regards, innovation in data center technology has a vital role to play on how the enterprise of all sizes store, manage and share their data across platforms. One of the latest waves in the IT space is to shift towards enterprise key management solutions. The solution has gained massive support due to its scalability, intuitive, and straightforward interface.
Why is it So Important in Today’s Threat Landscape?
There are only two types of companies, those that are hacked and those that don’t know they are already hacked. So having a proactive security approach will save you a lot of stress and investment.
Having an Enterprise Key Management SCD is so crucial in today’s cyber threat landscape because it secures the encryption keys, stores and manages them in a separate device. That means that if the keys are stored locally in a SCD within the same server like the encrypted data, in the event of a data breach, the keys will remain safe despite losing the encrypted data on the server.
The Advantages of Enterprise Key Management solutions
An excellent key management solution platform should be hardware and not software. The SCD should be a compliant FIPs 140, Level 2 solution. It needs to be user friendly and built with an intuitive interface to support multiple devices for managing to distribute cryptographic keys across a broad spectrum of used cases.
Security-conscious organizations are driving and pushing for the implementation of this EKM solution due to its multiple benefits.
Maintains Support for Generation Distribution, Import of Any Key Type.
Enterprise key management platform solutions need to have support for AES, DES, RSA, and ECC algorithms which allows it to manage any encrypted keys. This ensures that the organization is in complete control of their enterprise key inventory irrespective of a data breach.
User Interface flexibility.
Recent enterprise key management platforms support multiple interfaces for the successful deployment of encryption solutions. A Simple GUI, as well as ARCK-API or even highly flexible APIs like JSON, SCHEMA RESTFUL support the deployment of EKMS to perform the following functions; Remote access to audit logs, Remote Access to Key Meta Data Details, Key Requests, Key Storage, Key Translation and Random Number Generation. It also supports Multi-Key Import, Multi-Key Export, Translation between Formats (Variants & Key Bundling), Granular filtered System Queries, and Custom Options.
Client or Host Usability.
A good EKMS can serve as either a client or a host, allowing local users to push encrypted keys to the desired endpoint and also enable remote access for pushing keys or keying materials to the desired point.
As more organizations transfer their data to the cloud or visualized realities, the need for encryption heightens. What’s more, GEM Security Solutions advises that an EKM SCD solution is the best way to ensure your corporate encrypted keys are managed, stored and shared securely.