Businesses can better secure customer data with a new solution from Fiserv, Inc. (NASDAQ:FISV), a leading global provider of payments and financial services technology solutions. TransArmor® Personal Data Protection from Fiserv, which incorporates industry-leading data security technology from Protegrity, helps businesses secure consumers’ personal data.
With TransArmor Personal Data Protection, businesses are able to encrypt and tokenize personal information that consumers provide to businesses during routine interactions, such as creating a customer account, enrolling in a promotion, or disclosing basic shipping information. For the first time, when used alongside TransArmor Data Protection, Fiserv merchants will be able to tokenize and encrypt all payment card data and personal information throughout the entire customer and transaction lifecycle.
“As businesses build more effective consumer engagement strategies leveraging additional consumer data, it is incumbent on all businesses to secure personal data their customers entrust them with,” said Krista Tedder, Director of Payments, Javelin Strategy & Research. “By tokenizing personal data in motion and at rest, personal data becomes useless to criminals when it is accessed, preserving the trust of the consumer relationship.”
To meet PCI requirements, merchants must protect payment card data at the point of sale. However, personal information like a customer’s name, home address, email, phone number, account number or password have not typically received the same level of protection. This personal information is in high demand on the dark web, and has been the target of high-profile data breaches.
“Maintaining data security is a priority for a majority of businesses, yet it can be a cumbersome task that some are ill-equipped to handle,” said Timothy Horton, vice president, Global Merchant Security and Fraud, Fiserv. “TransArmor Personal Data Protection makes it easier for businesses to go above and beyond to provide a higher level of data security on behalf of their clients.”
Protegrity technology enables the tokenization engine for TransArmor Personal Data Protection. By allowing businesses to tokenize data in motion, in use, and at rest, Protegrity solutions help enterprises protect sensitive consumer data to further drive their digital transformation.
“Our collaboration with Fiserv represents a milestone in our mission to protect the data of billions of people around the globe. The successful incorporation of our data protection capability into TransArmor Personal Data Protection is a testament to the scalability of our technology, and underscores its adaptability for cloud-based infrastructure,” said Rick Farnell, Chief Executive Officer, Protegrity.
TransArmor Personal Data Protection supports business applications and processes, and allows those systems to secure personally identifiable information and sensitive personal information. The same level of security for elements of protected health information will be available at later date. Additionally, TransArmor Personal Data Protection helps businesses secure personal information of their own employees that may be stored on internal systems.
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among FORTUNE World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.
Founded by a team of data security experts aiming to simplify the complexities of traditional data protection methods, Protegrity has at its core the customer-first mission of creating and delivering the most comprehensive and reliable data security solutions possible. This mission and commitment has driven our innovative approach for more than 15 years, which remains unmatched in its depth and breadth. With Protegrity, enterprises can confidently leverage their sensitive data for digital transformation while ensuring its protection whether in motion, in use, or at rest. For more information, visit www.protegrity.com.