Improve your security posture with cloud cryptography
Summary of Greensheet article
Futurex is pleased to announce significant enhancements to the VirtuCrypt cloud.
VirtuCrypt is Futurex’s cloud HSM and key management service. It is powered by FIPS 140-2 Level 3 and PCI HSM validated Futurex HSMs. Users of VirtuCrypt are able to quickly deploy a vast range of cryptographic functions, such as financial transaction acquiring, card and PIN issuance, and point-to-point encryption (P2PE). VirtuCrypt offers disaster recovery, automated failover, 24/7/365 support, and the ability to spin up HSMs on demand.
Ryan Smith, VP of global business development at Futurex, had this to say about the recent enhancements. “We have been working with the financial services industry for more than 40 years. We’re proud to announce a range of groundbreaking enhancements to our VirtuCrypt financial cloud HSM, delivering on our commitment to meet the security and compliance needs of financial services organizations worldwide.”
Flexible and compliant cloud cryptography
Smith underscored how VirtuCrypt is developed and manufactured entirely by Futurex. Futurex maintains data centers in strategic locations worldwide, which elevates VirtuCrypt to a truly global cloud cryptography solution. Smith said, “It’s easy to take out a contract for space in a commodity data center and throw some HSMs in a rack…but that’s not a cloud HSM service; that’s co-location with some fancy marketing wrapped around it.”
The VirtuCrypt cloud complements Futurex partner IT infrastructure in the following ways:
- Cloud enablement: VirtuCrypt’s high level of compliance, scalability, and flexible integration options make it easy for financial organizations to migrate critical infrastructure to the cloud.
- Hybrid deployment: Cloud HSMs deployed in VirtuCrypt use vendor-neutral APIs – including the RESTful web API – to reduce integration effort for organizations retaining on-premises HSMs.
- Native integration: VirtuCrypt offers native integration with payment applications running in public clouds like Amazon Web Services (AWS), Azure, and Google Cloud Platform (GCP).
- Redundancy and agility: Users can spin up cloud HSMs on-demand and scale them as needed. Futurex’s global data centers provide full redundancy, with an SLA-backed uptime of 99.999%.
- Broad compatibility: Futurex is a registered Encryption Services Organization (ESO) serving all major financial organizations, as well as payment device manufacturers.
Channel partner benefits
Financial services organizations depend on HSMs to secure their most sensitive data. They require high levels of security, compliance, and a wide range of functionality, such as:
- PIN translation and verification
- CVV generation and validation
- EMV validation
- Message authentication code generation and verification
- Key management
- Mobile payment processing.
In addition, banks, ISOs and payment service providers use HSMs to issue cards and provision mobile payment tokens. Retailers who use terminals that support remote key loading don’t have to ship terminals out to an ESO for re-keying. The VirtuCrypt cloud handles all of these functions, providing tremendous value to clients.
Smith pointed out that, when payment processors use cloud HSMs, they get to focus on core business instead of managing IT infrastructure. This reduces the chance of outages, streamlines operations, and reduces costs (especially CAPEX and OPEX). These benefits can be passed down to ISOs and their customers, Smith added.
“VirtuCrypt services have data centers worldwide, and certifications include PCI DSS, PCI PIN, PCI P2PE, and TR-39,” Smith said, noting that VirtuCrypt is a platform-agnostic way to deploy cryptographic services across a range of financial use cases and architectures.