An unprecedented agreement between three Brazilian companies will provide innovative encryption technology in the as-a-service model, with rapid deployment and high availability and without the need to invest in technology assets
Since the launch of the BC# Agenda, the Central Bank of Brazil (BC) has been announcing several initiatives to accelerate the development of the Brazilian financial system. Among them, the PIX, which has already reached 253.5 million registered keys and handled R$ 1.4 trillion since its inception; the implementation of a new phase of Open Banking, scheduled for July; and the transition to Open Finance, which should take place throughout 2021.
In view of this movement, fintechs and financial institutions took advantage of the BC's stimulus and entered with force to dispute a share of the market. The sector's effervescence was also reflected in the activity of suppliers in the financial sector, which needed to increase investment in innovation to adapt to demands, accelerate product development and offer solutions at competitive prices.
Faced with this scenario, Kryptus, the leading Brazilian multinational in cryptography, Ecoscard, an information security company focused on payments, and RTM, the main integrating hub of the Brazilian financial market responsible for the connection between more than 600 financial institutions in the country, closed a partnership to serve this market.
The agreement, which will integrate the only Brazilian HSM (Hardware Security Module) device with FIPS 140-Level 3 certification, Kryptus' kNET, Ecoscard's certified financial APIs and RTM's private cloud environment, will offer security, scalability, agility in deployment and support for companies of any size focused on the financial sector.
The incorporation of Kryptus' kNET into RTM's cloud service will enable more security and regulatory compliance for the market, including banks, insurance companies, card processors and brands, finance companies, fintechs and new entrants to the payment media market. In addition, it will allow customers to have access to a series of payment security applications.
"This partnership meets RTM's mission of providing a safe and compliant environment for carrying out financial transactions, flexible to meet any size of operation in a sustainable manner and based on reliable infrastructure and applications", says André Castro de Mello, CEO of RTM.
One of the strengths of the joint offering is the possibility of consuming the EMV, PIX, SPB and KMIP APIs as an on-demand service in the RTM cloud, which allows the customer to pay proportionally to what they use and to provision security resources in a transparent and scalable way.
Roberto Gallo, CEO of Kryptus
"The as a service encryption model ensures that companies of any size achieve compliance with strict payment security standards, with access to state-of-the-art integrated features such as high-performance hardware encryption, key management, transaction processing, and safe environment, through a more accessible model compared to traditional market offerings”, emphasizes Roberto Gallo, chief scientist and CEO of Kryptus.
Another great advantage of the joint cloud solution for companies, according to him, is the replacement of investment in Capex (capital expenses) for Opex (operating expenses). In other words, it will not have to spend resources to acquire systems and technologies, subject to depreciation. “In addition, in the cloud, there will always be availability of updated and technically renewed resources, in addition to total flexibility and scalability in the development and management of business processes”, concludes Gallo.
With the booming advance of electronic commerce during the pandemic period, the financial market has been looking for more agile means of implementing its technologies, but without leaving aside one of the matrices of the financial transaction process, which is data protection. "In this sense, by offering the use of the HSM as a service, there is a range of benefits for the customer to make use of this device, with quick integration and without the need for the acquisition cost, which is not just the equipment, but the entire infrastructure and a specialized workforce.”, concludes Paulo Rosas, CTO of Ecoscard.
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