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Interswitch, a leading integrated payments and digital commerce company in Africa, has partnered with Thales, a global leader in digital and data security solutions, to introduce the CipherTrust Data Security Solution.
This cutting-edge data security solution is designed to protect organizations against data breaches and cyber threats, addressing the growing and dynamic security needs of businesses.
The solution was launched at a recent Customer Engagement Forum held at The Wheatbaker Hotel in Lagos, which brought together Chief Information Security Officers (CISOs), Chief Information Officers (CIOs), and Compliance and Risk executives from various industries, including commercial and microfinance banks, as well as fintech companies.
The forum featured expert-led discussions and presentations on the latest trends in data security, emerging threats facing businesses, and strategies for enhancing organizational defenses.
In his keynote address, Tyoyila Aga, Vice President of Financial Services at Interswitch Group, highlighted the crucial role of advanced technology in safeguarding data. He emphasized the importance of compliance and collaboration within the data security industry.
“Our partnership with Thales underscores our commitment to leveraging cutting-edge technology to protect our clients and partners. As regulatory frameworks around data security become increasingly stringent, organizations must ensure full compliance to avoid penalties and protect their reputation. The CipherTrust Data Security platform is designed with these challenges in mind, offering comprehensive compliance features that simplify adherence to local and international regulations. Data security is a collective responsibility that requires collaboration across industries, sectors, and borders,” Aga said.
He further explained that the CipherTrust Data Security Solution combines Interswitch’s expertise in payment solutions with Thales’ advanced data security capabilities, providing unparalleled protection for organizations’ sensitive information.
“This platform offers a comprehensive suite of tools, including advanced encryption, key management, and access controls, to safeguard sensitive data across all environments, whether on-premises, in the cloud, or hybrid,” Aga added.
Neil Cosser, Regional Sales Director for Africa at Thales Group, demonstrated how the CipherTrust Data Security Solution works and elaborated on its practical applications and benefits for businesses.
“The CipherTrust Data Security Platform is a game-changer in data protection. By leveraging advanced encryption technologies, multi-factor authentication, and sophisticated fraud detection systems, this solution is designed to protect sensitive data and ensure that only authorized users can access it. By continuously updating these technologies, we stay ahead of cyber threats and provide a secure environment for digital transactions,” Cosser said.
During a fireside chat, Cosser highlighted that Thales offers a robust security framework ensuring sensitive data is secure while organizations retain full control and transparency over their information, regardless of where it’s stored.
“The CipherTrust Data Security Platform represents a new era in data protection. With CipherTrust, businesses can confidently leverage their data’s full potential, while we manage the complexities of securing it. Beyond data security, the solution can amplify business capabilities, streamline operations, and enable informed decision-making, driving innovation, competitiveness, and sustainable growth,” he said.
Interswitch’s partnership with Thales is a forward-thinking approach to creating a more secure digital ecosystem and transforming the Nigerian security sector. This collaboration emphasizes protecting data integrity and strengthening the security framework for businesses nationwide. Both companies are committed to delivering innovative solutions that enable organizations to operate securely in an increasingly digital world.
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