With more than 4,000 years of history, the use of encryption evolved as the technologies of each era progressed, however, the great boom of this practice came with the development of the two world wars where figures such as Alan Turing participated in processes of encryption of military codes that changed the course of humanity and gave rise to technology as we know it today.
What is data encryption?
Encryption is the foundation of data security today and consists of converting the data to be protected from a readable format to an encoded one by means of algorithms. This method has become the most important and effective method for keeping information safe in the digital age, where data and sensitive information are the most coveted and vulnerable resources.
How does it work and in which scenarios is it used?
Sensitive data (passwords, sensitive information, transactions, balances, pins, etc.) written in conventional text or digits, are converted into an unreadable code that can only be decrypted under cryptographic keys to which only those authorized to access and use the information have access. To carry out this process, the algorithms break the data into blocks and proceed to encrypt each block as a unit.
It is worth noting that data encryption not only protects information that is moving through the network, it is also used with great success to protect stored data, such as sensitive information of a company – inter alia – but its uses range far beyond what we can imagine and is present in many instances of everyday use, especially in the financial sector: Internet browsing, social networking, cloud storage, email, mobile devices, inter alia.
In the case of the financial sector, banking transactions are protected by different data encryption features such as anti-cloning, PIN variation, message authentication, digital signatures and tokenization, which protects card numbers by encrypting them.
What are its greatest benefits?
The first of these is directly related to its purpose: data protection. Nowadays, encryption is one of the most secure and impenetrable ways to protect sensitive information from cybercriminals, however, other advantages include:
- Preserves data integrity: not only protects information from theft, but also from tampering.
- Help to store information safely in the cloud.
- Protect the security of information and intellectual property in companies, especially those with remote operation.
- Keep companies, especially those in the financial sector, up to date with strict industry regulations that are governed by international laws on the protection of sensitive data, including names, addresses, biometric data, inter alia.
The experience we have gained in CLAI PAYMENTS® Technologies by consolidating solutions such as cryptography as a service, which allow you to serve end-to-end transactional lifecycle and build mission critical systems in the financial sector, leads us to assert that data encryption is the most effective barrier against common threats today such as theft, hacking, identity theft, fraud, among many others.
With our comprehensive cryptographic solution you will be able to face this type of threats with the ongoing availability you need, providing you with all the security encryption services in payment environments for your organization. If you want to know more about this and other solutions that CLAI PAYMENTS® Technologies can provide to your business, leave us your details below and our specialized team will contact you.
