Tokenisation is set to revolutionise Data Security irrespective of where a business may host its data assets. Tokenisation has been around for a long time and has a proven track record in the Banking and Financial sector - however where are the token fields used by banks is quite limited working with our partners we are able to offer a broader field choice for our customers - up to 35 fields, within a structured database...

What is Tokenisation?

Tokenization, when applied to data security, is the process of substituting a sensitive data element with a non-sensitive equivalent, referred to as a token, that has no extrinsic or exploitable meaning or value.

The Advantages of Tokenisation

  1. Close the security gaps
    Advanced tokenisation platforms close the security gaps and mitigate the risks, removing the
    reliance on encryption keys so organisations don't have to worry about managing sensitive data in
    many systems. Security travels with the data while it’s at rest, in use and in motion. As a result, no
    additional security methods are required to provide protection when tokenised information leaves
    an organisation.
  2. Cost savings
    Tokenisation can significantly reduce the burden of managing a Cardholder Data Environment
    (CDE) by ensuring that internal systems are clear and remain free of sensitive information, thus
    reducing the financial burden associated with PCI DSS compliance.
  3. Improve security and compliance
    Tokenisation can dramatically reduce data compliance scope, such as GDPR and PCI DSS.
    If tokenised data is lost or stolen, it is useless to hackers, so even if systems are breached,
    sensitive information will not be compromised.
  4. Audit and control sensitive information
    By securing sensitive information with a token, and storing in an appropriate vault, organisations
    can control and audit access to that data. Administrators can set permissions and alert appropriate
    members of staff to any attempted breach.

In order to really unlock the benefits of tokenisation, organisations should focus on four key areas:

  1. The tokenisation process needs to be universal and capable of being deployed across all
    systems that contain sensitive data, in a consistent and secure manner.
  2. Security of sensitive data should be well thought out, any encryption used needs to be of an
    appropriate strength and key management processes should be robust and NIST-compliant.
  3. The ability to create or amend token masks as well as safely and securely de-tokenise data,
    should be strictly controlled, difficult to abuse and driven by a business ‘need to know’ basis.
  4.  The platform should integrate with legacy services and systems and tokenised data stored in the
    same size and format as the original data, meaning legacy processes and systems can be retained.

The four key areas as described above are covered by our Tokenisation Service and the best bit is that we are not restricting this service to financial services or the banking sector - this solution is open all .

If you are serious about protecting customer data - especially sensitive data, then talk to us at Ares Risk Management