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Tokenisation Addresses Cyber Security Risk and Compliance. Here’s Why

Posted on June 16, 2017 by John Lynch

 vault-gadgets.pngInformation security is something businesses do not dare to ignore these days, be it a huge corporation or a modest startup.

On average a data breach costs $4m and this is already an argument for having a proper security system in place.

According to BreachLevelIndex, there have been as many as 1792 breach incidents reported in 2016 with 44 records stolen every second. Overwhelming, isn’t it?

Yet information security is a constantly evolving area of IT, and an emerged trend to use tokenisation to protect sensitive data is, as many IT security leaders claim, a solid way to reduce the risks.

This is why Maytech are expanding its portfolio with a brand new security solution: Quatrix Vault. Any sensitive data can be submitted to Quatrix Vault in exchange for a token and retrieved only on submission of the token. Quatrix Vault has a rich API and therefore integrates with your existing IT environment and products. 

What is 'tokenisation' 

Tokenising a piece of information equals to replacing sensitive data with a set of unique identification symbols (tokens) that are non-sensitive equivalents and therefore do not have exploitable meaning or value. Thus, a token is a reference that maps back to the sensitive data through a tokenisation system. In a word, having access to tokens is useless for a cyber criminal. 

How Quatrix Vault uses tokenisation to protect your data?

vault infographic

Quatrix Vault is based on key-value database paradigm, where the key is a token and value is encrypted data. The so-called ‘value’ here indicates any data your business wants to secure: credit card information, medical records, bank transactions, vehicle driver information, stock trading, voter registration and much more.

A huge advantage of Quatrix Vault is split secret methodology that ensures no access to your tokenised records even by the service provider. Thus, the method meets the most stringent and demanding security and compliance standards, including healthcare organisations, financial organisations or government institutions.

Tokenising sensitive data helps you to attain PCI compliance - instead of storing card data you store a meaningless token.

 Your security is our top priority and with tokenisation solutions like Quatrix Vault we can bring it on to the next level.

We are still in beta, would you like to try it out?

Contact us at support@maytech.net

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