First Successful ARX Migration in Israel Uses Futurex HSMs for Secure Payment Environments
TEL AVIV, Israel, 19 August, 2020 — Futurex, Stanchion, and Credics Technologies Ltd. are working together to support financial institutions in Israel to manage data encryption for their operations, including those that are migrating from the ARX hardware security modules (HSMs) to modern platforms. Together, they have invested in the development of a fully compatible and compliant HSM solution to distribute and support Futurex’s HSM solutions.
Futurex announced it has deployed its Excrypt Plus HSM in Israel, where customers have successfully used system integration services from locally based Credics Technologies Ltd. who supplied the toolset that speeds up and de-risks the migration of the ARX HSM environment to the Futurex HSM environment. The end clients are using Futurex’s HSMs to manage the security authentication of a card issuing platform and acquiring ATM transactions.
Following the announcement that ARX is ending support and maintenance for its product line as it exits the HSM market, riskless migration from ARX HSMs to the Futurex trusted platform is now available and live in Israel.
Stanchion, a global payments solution provider, and Credics, an Israel-based payments technology firm, work together to deliver world-class skills and services to institutions that wish to implement or migrate to a modern, advanced payment security platform based on Futurex encryption technology.
Futurex is one of the world’s leading providers of cryptographic technology and solutions for payment processing, card and mobile issuance, and advanced fintech solutions. The company offers an advanced, best-of-breed portfolio of HSM solutions that comply with all PCI and FIPS security standards.
“In today’s mission-critical, 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 and future contactless payments and open banking alternative payments methods. 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,” said Norman Frankel, Regional Managing Director UK/Europe at Stanchion and Director, Future Payment Solutions (Israel) Ltd.
Roland Allen, General Manager EMEA at Futurex, said, “This launch in Israel forms part of our continued investment in the Israeli market through Stanchion and local integrator Credics. Futurex can help banks in Israel to replace legacy HSMs from ARX and other providers with new technology, or to virtualise payments infrastructure while retaining PCI and FIPS security compliance.”
Haim Zemah, CEO at Credics, added, “With the announced end of life for ARX HSMs in the Israeli market, Credics has built, and with these first customers, launch tested and deployed a toolset which helps with the migration from the ARX HSM to the Futurex HSM environment — to provide advanced crypto services and reduce the risks and accelerate the pace of the transition from ARX and other legacy HSM platforms to the Futurex platform. With this technology in place, institutions have a scalable and versatile solutions in place to satisfy their evolving business needs.”
Global Payments Specialists. Established in 2001, Stanchion Payments has offices in Australia, South Africa, the UK, Middle East and the USA. Our experience in complex payments environments and our ability to leverage our international client engagements enables us to offer a range of solutions, services and products to integrate, manage, optimise and secure your payments systems. Trusted by clients around the globe, we have a collaborative and flexible approach, focused on addressing our clients’ business opportunities and challenges.
For over 40 years, Futurex has been a trusted provider of hardened, enterprise-class data security solutions. More than 15,000 organizations worldwide, including financial services and corporate enterprises, have used Futurex’s innovative hardware security modules, key management servers, and enterprise-class security cloud solutions to address their mission-critical systems, data security, and cryptographic needs. This includes the secure encryption, storage, transmission, and certification of sensitive data. For more information, please visit futurex.com.
Credics has been providing customized, cutting-edge billing software since 1999, when it was founded by veterans of the credit card and financial software industries, both in Israel and internationally. The company builds flexible, modular, perfectly-tailored solutions for a wide range of businesses in every economic sector. With clients around the world representing enterprises of all sizes, Credics is fully prepared to meet unique, ever-changing needs.
About Future Payment Solutions (Israel) Ltd
Formed in January 2020, as a wholly owned subsidiary of Stanchion, will bring innovations in the field of future payments and open banking from Europe to Israel to help banks and payment companies maximise the learning opportunity from successful deployments in Europe. The business operates under the Stanchion brand in the Israel market.
For Stanchion: Norman Frankel, firstname.lastname@example.org, +447940759268
For Futurex: Media Relations, email@example.com, +1 800-251-5112
For Credics: Haim Zemah, firstname.lastname@example.org, +972544606991