Data is the heartbeat of business operations in today’s dynamic digital landscape, driving transactions, communication, and almost every interaction in the digital space.
As organisations increasingly embrace digital platforms, they become more susceptible to a range of cyber threats.
This growing vulnerability underlines the critical need for robust data protection strategies capable of evolving alongside emerging threats.
In a strategic move to address this need, Interswitch, one of Africa’s leading integrated payments and digital commerce companies, has joined forces with Thales, a global leader in digital and data security solutions, to launch CipherTrust Data Security Solution. This advanced platform is designed to safeguard organisations from data breaches and cyber threats.
The CipherTrust Data Security Solution was introduced at a recent customer engagement forum held at The Wheatbaker Hotel in Lagos. The event attracted Chief Information Security Officers (CISOs), Chief Information Officers (CIOs), Compliance and Risk executives from a range of sectors, including the financial and non-financial verticals, Fintechs and Other Financial Institutions.
The forum served as a crucial platform for discussions on the latest data security trends, emerging threats, and effective strategies for mitigating risks. Industry experts shared insights into the evolving landscape of data security, highlighting the increasing complexity of threats and the essential role of advanced security measures in protecting organisations.
The partnership between Interswitch and Thales combines Interswitch’s deep expertise in payment solutions and Thales’ cutting-edge data security technologies. Companies like Interswitch and Thales are not just providing security solutions; they are building the trust that underpins the future of digital business. Their work ensures that Nigerian businesses can operate free from the fear of data breaches, fostering an environment where innovation and growth can thrive.
The CipherTrust Data Security Solution redefines how data security should be approached in today’s financial ecosystem. The platform confronts the latest data security trends, threats, and breaches, offering a defense mechanism that is both comprehensive and adaptable. Whether businesses operate on-premises, in the cloud, or through a hybrid model, this platform provides essential features like advanced encryption, key management, and access controls to ensure data protection across all environments.
In his keynote address, Tyoyila Aga, Vice President of Financial Services at Interswitch, highlighted the significance of leveraging cutting-edge technology for data protection. He emphasised the importance of compliance and collaboration within the data security ecosystem. “Our partnership with Thales exemplifies our commitment to leveraging advanced technology to protect our clients and partners,” Aga stated. “Regulatory frameworks around data security are becoming increasingly stringent, and organisations must ensure they are fully compliant to avoid penalties and safeguard their reputation.”
Aga elaborated on the CipherTrust platform’s features, noting that it integrates advanced encryption, key management, and access controls to provide comprehensive protection for sensitive data across all environments—whether on-premises, in the cloud, or in a hybrid setup. “This platform offers a comprehensive suite of tools designed to address the complex challenges of modern data security,” he added.
The CipherTrust platform integrates data discovery, protection, and control into a single platform, simplifying operations for businesses that must navigate the complex landscape of regulatory compliance and multifaceted cloud environments. By streamlining these processes, the platform gives organisations the clarity and control they need to manage their data security effectively.
Neil Cosser, Regional Sales Director for Africa at Thales Group, demonstrated the practical applications and benefits of the CipherTrust Data Security Solution. He highlighted the platform’s role in revolutionising data protection. “The CipherTrust Data Security Platform is a game-changer in data protection,” Cosser said. “By leveraging advanced encryption, multi-factor authentication, and sophisticated fraud detection systems, it ensures that sensitive data remains secure and accessible only to authorised users. Our continuous updates to these technologies help us stay ahead of cyber threats and provide a secure environment for digital transactions.”
During a fireside chat, Cosser further detailed how the CipherTrust platform simplifies data security management. “CipherTrust represents a new era in data protection,” he explained. “With CipherTrust, businesses can confidently leverage their data’s full potential while we manage the complexities of securing it.” Cosser also noted that beyond enhancing data security, the CipherTrust platform can amplify business capabilities, streamline operations, and support informed decision-making. This, in turn, drives innovation, competitiveness, and sustainable growth.
As Nigeria continues its journey toward a fully digitised economy, the importance of strong data security frameworks becomes increasingly apparent. The collaboration between Interswitch and Thales goes beyond meeting today’s security needs to anticipating the challenges of tomorrow and equipping businesses with the tools they need to face these challenges head-on. By doing so, they are empowering organisations to unlock the full potential of their data, enhancing their competitiveness and driving innovation within a secure and reliable digital environment.