Cloud technologies play a significant role in facilitating the global distribution and interconnection that make financial services easy to access. The cloud lets a financial services firm quickly expand its coverage to a new geography, optimize processing and data management for that location and remotely monitor performance without the need for significant capital investment.
Data encryption is the bedrock of cybersecurity. Encrypted data remains worthless ciphertext without access to encryption keys; hardware security modules (HSM) are well-established means for securing those keys in on-premises data centers. Data security teams are well-versed in the process of purchasing, provisioning and managing those HSMs.
When we talk to companies around the world, a common topic of discussion is the transformational nature of cloud technologies. In a very short time, the cloud has disrupted every aspect of how IT infrastructure, resources and software are deployed and managed. While there’s near-universal agreement on the economic benefits of this, it’s not all good news: In these discussions, the conversation invariably turns toward the growing challenges of cloud security management - in particular, the management of the encryption keys that are fundamental to cloud security.