Published on September 10th, 2019 📆 | 2034 Views ⚑0
Fintech innovator Treezor chooses Thales Cloud HSM to Uphelp secure Banking-as-a-Service
PARIS LA DÉFENSE–(BUSINESS WIRE)–
- Thales SafeNet Data Protection On Demand service rolled out across fintech payment chain
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190910005069/en/
As an electronic money issuer, Treezor is bound by a variety of data privacy regulations and requirements, including requirements from the French Regulator (ACPR), the Mastercard network and the European Union’s General Data Protection Regulation (GDPR). Treezor is required to implement strong data security controls to protect personal financial information and other sensitive data. After evaluating several providers, Treezor selected SafeNet Data Protection On Demand (DPoD) due to its ability to provide a cost-effective and easy-to-use cloud HSM service as a highly secure root of trust for cryptographic operations.
Treezor, recently acquired by Societe Generale, was familiar with the security advantages of HSMs, but wanted to minimize investments and on-going overheads, so it began investigating cloud-based offerings. Taking advantage of the 30-day free evaluation offered by Thales for its cloud-based HSM solution, Treezor was impressed by the ease of use and the speed it was able to deploy its test environment. During the evaluation phase of SafeNet Data Protection On Demand, the ‘point-and-click’ ease of use convinced Treezor that SafeNet Cloud HSM On Demand service provided the best solution in terms of cost, security and ease of implementation.
With SafeNet Data Protection On Demand, Treezor benefits from:
- Rapid deployment and easy integration – Cloud HSM services were up and running and integrated into their systems in minutes
- Service Level Availability – Unlike other Cloud HSM services on the market, SafeNet Data Protection On Demand comes with a 99.95% SLA
- Predictable costs – Pricing is provided in a predictable way with all costs like redundancy and back-up services inclusive, meaning no hidden charges for high availability
Treezor’s strategy has led to a dramatic growth in two years, from issuing 100,000 cards and €400,000 of transactions in 2017 to over 500,000 cards and €5 billion in 2018.
With the scalability of SafeNet Cloud HSM On Demand, alongside its separation of duties, Treezor can offer each customer their own dedicated HSM service, bringing them safety in the knowledge that their financial and other sensitive data is segregated and protected.
The people we all rely on to make the world go round – they rely on Thales. Our customers come to us with big ambitions: to make life better, to keep us safer. Combining a unique diversity of expertise, talents and cultures, our architects design and deliver extraordinary high technology solutions. Solutions that make tomorrow possible, today. From the bottom of the oceans to the depth of space and cyberspace, we help our customers think smarter and act faster – mastering ever greater complexity and every decisive moment along the way. With 80,000 employees in 68 countries, Thales reported sales of €19 billion in 2018.
Founded in 2016 by Éric Lassus and Xavier Labouret, Treezor is a French Bank-as-a-Service platform covering the entire payment chain through API based solutions. The fintech is an approved electronic money issuer and a Mastercard principal member. As a young and innovative company, Treezor devotes a significant part of its resources to develop new technologies in the field of open banking to support the strategy and service deployment of its customers.