Futurex in 2022: A Look Back at a Successful Year
2022 was a year filled with both challenges and opportunities in the cybersecurity industry. As an industry leader with technology partners and customers around the world, Futurex is often at the forefront of new cryptographic developments. Let’s take a look back at how the Futurex team helped organizations around the world protect their sensitive data and deploy innovative new solutions.
Futurex Named a Leader in Hardware Security Modules by ABI Research
We kicked off 2022 with the news that ABI Research, an international technology intelligence firm, had named Futurex a global leader in hardware security modules (HSMs). ABI Research’s Hardware Security Module: OEM competitive assessment report gave Futurex high scores for our cryptography-as-a-service (CaaS) offerings, feature-rich payment HSMs, hybrid deployment options, and customer flexibility. In praise of Futurex, ABI’s report stated, “Futurex showcases an extensive payment HSM platform with strong cloud integration and service availability, enabling it to carve itself a particularly successful niche in the HSM market which it is actively expanding.”
Leading the hardware security industry isn’t something that happens overnight. Futurex has spent the last four decades developing and refining the most versatile and comprehensive cryptographic solution suite in the world. Our team’s commitment to R&D, in-depth expertise, and innovation has made us the trusted HSM provider for the world’s largest enterprises.
Futurex Announces Fastest HSM Payment Speeds in the World at 50,000 Transactions Per Second
In April, we announced that our payment hardware security modules (HSMs) gained the ability to process up to 50,000 transactions per second (TPS), making them the fastest in the world. As is well known in the payments and cybersecurity industries, HSMs are the most reliable way to secure sensitive data. Financial services organizations depend on robust, secure, and highly available cryptographic processing to handle essential tasks like payment processing, PIN verification, CVV validation, and more.
At Futurex, Ryan Smith, vice president, global business development, celebrated the achievement with the following statement: “ Digital transformation — the process of moving applications, products, or resources to the cloud — requires an organization to think strategically and innovatively. Our focus at Futurex is to help enterprises do just that. We deliver highly secure and agile solutions that help organizations build their infrastructure as well as their business. While our payment HSM industry-leading speeds of 50,000 TPS exceed what most organizations need today, we have engineered them to meet business needs now and for years to come.”
Major Israeli Bank Turns to Stanchion and Futurex for Secure Payment Environments
In June, we announced that Stanchion Payment Solutions, a global payment solutions provider, successfully migrated one of Israel’s top three banks from ARX to Futurex HSMs to secure their payment environments. Banks and payment providers use HSMs to encrypt sensitive data and manage encryption keys, making them essential to the payments industry. More than three leading banks in Israel have migrated from ARX HSMs to those of Futurex, citing easy integration, strict compliance, intuitive user interfaces, developer-friendly workflows, and the utmost confidence in Stanchion to deliver a seamless migration.
“In today’s 24x7x365 payments environment, strong hardware-based cryptographic infrastructure remains a critical need for Israeli banks. Even more so with rapid growth in mobile initiated payments, electronic wallets, future contactless payments, and open banking alternative payments methods,” said Norman Frankel, Regional Managing Director UK/Europe at Stanchion and Director, Future Payment Solutions (Israel) Ltd. “With a local entity registered in Tel-Aviv, we are well positioned to help banks and payment providers with the full management of their HSM and public key encryption infrastructure, with the experience of many Futurex deployments and customers around the world.”
Futurex HSMs certified by Australian Payments Network
In July 2022, Futurex was pleased to announce that its industry-leading encryption devices are officially approved for use in Australia’s payment industry, per the Australian Payments Network (AusPayNet). The Futurex EXP1000 and GSP3000 hardware security modules (HSMs) have been added to the Australian Issuers and Acquirers Community (IAC) Approved Devices list. Futurex’s certification comes at a significant time for our company. Over the past year, Futurex has established numerous data centers in strategic locations around the world in an effort to provide clients with faster processing and stronger compliance. Futurex’s certification as a provider of IAC Approved Devices is the latest development in this ongoing strategy.
“Australia has an impressive payment technology ecosystem, and Futurex is proud to be trusted by many of the region’s most innovative and fast-growing companies,” says Adam Cason, Vice President of Global and Strategic Alliances at Futurex. “AusPayNet’s approval of Futurex’s HSMs further supports our drive to be the world’s premier data encryption and key management provider.”
Futurex Wins “Enterprise Encryption Solution of the Year” Award
In October, Futurex won the “Enterprise Encryption Solution of the Year” award in the CyberSecurity Breakthrough Awards program conducted by CyberSecurity Breakthrough, a leading independent market intelligence organization that recognizes the top companies, technologies and products in the global information security market. This year’s program attracted more than 4,100 nominations from more than 20 different countries throughout the world.
According to James Johnson, managing director, CyberSecurity Breakthrough, “Encryption lies at the foundation of most, if not all, cybersecurity technologies – and as more devices and infrastructure become connected to the internet, this presents a growing problem. There are several core competencies at the heart of Futurex’s recent success although they have been in the hardware encryption business for over 40 years. In recent years, the company has been gaining global recognition for its innovative cryptographic solutions and high-profile technology partnerships. Congratulations to Futurex for being our pick for 2022’s “Enterprise Encryption Solution of the Year.”
The Year in Review
We’re proud of what our team accomplished in 2022 — from developing innovative new solutions to expanding our global data presence. We want to take a moment to thank our customers who give us their trust; our technology partners who collaborate on innovative solutions; and our global team of employees who have all contributed to our success over the years — not just in 2022, but throughout the 40 years since Futurex was founded. While the economic market continues to pose unique challenges, we’re looking forward to 2023 and more exciting milestones in the year ahead.