Paymentwall Leverages Payment HSM as-a-Service on IBM Cloud for Financial Services
Utimaco, a global provider of cybersecurity and compliance solutions, is proud to announce its Payment HSM as-a-Service (Payment HSMaaS) is now available on IBM Cloud for Financial Services. This addition aims to bolster security and help support compliance obligations for financial institutions and payment service providers globally.
Financial Technology Insights: Kintsugi Gets Strategic Investment from Vertex
Payment HSMaaS, a fully cloud-hosted, PCI-compliant service, provides an alternative to operating on-premises Payment HSMs in customers’ data centers. It helps to reduce the need to invest in hardware, secured facilities, and management resources designed to reduce the burden of PCI compliance, audit, and support. Banks can leverage the combination of IBM’s deep financial industry expertise and enterprise cloud platform with Utimaco’s Payment HSMaaS technology to unlock enhanced payments services for their customers. For example, Paymentwall, a global provider of payment solutions, has implemented Utimaco’s Payment HSMaaS on IBM Cloud for Financial Services to help enhance the security of transactions and address their regulatory compliance requirements.
Financial Technology Insights: Vista Bank Appoints Bob Mahalik as SVP for M&A Strategy
“We are excited our Payment HSM as-a-Service is available on IBM Cloud, reinforcing our commitment to providing cutting-edge security solutions for the financial sector,” said Stefan Auerbach, CEO at Utimaco. “By offering our solution within IBM Cloud, we are providing financial institutions with a deployable, scalable, and enhanced payment security framework.”
First introduced in 2019, IBM Cloud for Financial Services is designed to accelerate financial institutions’ digital transformations with security at the forefront and it aims to help reduce risk throughout the supply chain by addressing resiliency, performance, and security for financial institutions as well as helping them address their regulatory compliance obligations.
“As the payments industry continues to evolve, financial institutions need technological solutions that can help them remain competitive while maintaining security and their regulatory compliance posture,” said Prakash Pattni, MD Financial Services Digital Transformation, IBM Cloud. “IBM has a long history of innovation in the payments industry and the addition of Utimaco furthers our mission helping clients meet the unique requirements of this industry.”
Utimaco’s Payment HSMaaS capabilities integrate with Paymentwall’s existing environment based on IBM Cloud, helping to enable enhanced security for cashless payment processing and a comprehensive suite of payment services worldwide.
Financial Technology Insights: factiiv Launches B2B Platform to Boost Trade Credibility
“Security is paramount in the digital payments industry, and Utimaco’s Payment HSM as-a-Service on IBM Cloud has enabled us to prepare the infrastructure for our new product, including the protection and compliance controls we need,” said Volodymyr Kovalyov, Chief Architect at Paymentwall. “Both the Utimaco and IBM teams have provided valuable support throughout the process, and their expertise aligns with our commitment to deliver seamless and secure transactions across global market.”
Utimaco’s Payment HSM as-a-Service is now available via IBM Cloud for Financial Services.
To share your insights with the FinTech Newsroom, please write to us at sudipto@intentamplify.com
Source –businesswire
