Modern organizations must collect and store sensitive personal and payment data to process payments, compile analytics, and enable users to get the most out of their digital experiences. However, the systems and processes necessary to protect these sensitive data sets introduce expensive and labor-intensive IT infrastructure and maintenance requirements—in addition to significant risk and compliance concerns.
To address these concerns, organizations can combine the consultative cybersecurity and privacy expertise of Truvantis with TokenEx’s Data Protection Platform to identify, locate, and protect PCI, PII, ACH, PHI, and other valuable consumer data. By removing this sensitive data from internal systems, consolidating it via a single security platform, and enabling it to be shared with any third party, organizations can operate compliantly while still delivering the valuable business intelligence and analytics insight derived from gathering consumer data.
Tokenization for Regulatory Compliance
When it comes to compliance, organizations must be aware of specific requirements regarding how they obtain, handle, secure, and process sensitive data that fall within several regulatory scopes. Many organizations use a combination of network segmentation and encryption, tokenization, or other obfuscation techniques to protect sensitive data in compliance with data regulations. Each of these technologies offers its own set of pros and cons, but we find one security method to be exceptionally effective at reducing scope, minimizing risk, and simplifying compliance—all while maximizing your data’s business utility, agility, and flexibility. This method is tokenization.
What is Tokenization?
Tokenization is the process of exchanging sensitive data for "tokens". By replacing the original data with nonsensitive placeholder tokens, organizations can use them in a database or internal system without bringing it into scope. Unlike encrypted data, tokenized data is irreversible. Because there is no mathematical relationship between the token and its original data, a token cannot be returned to its original form without the use of additional, separately stored information. So even in the event of a breach, hackers will be unable to reveal the tokens’ original values.
How Does Tokenization Help My Organization with Compliance Obligations?
When implemented properly, a tokenization platform can be leveraged to capture and secure sensitive data before it even enters an organization’s environment. This accomplishes two things: it reduces expense by eliminating the need to pay for the hardware, software, and internal systems required to perform network segmentation, and it increases security by making data inaccessible to thieves and hackers.
Additionally, by storing sensitive data outside of your environment, you effectively remove the systems that once housed that data from the scope of regulatory compliance. This simplifies the assessment process and shifts much of the responsibility for validation to compliance and security experts such as TokenEx and Truvantis.
Data-Centric Security with TokenEx and Truvantis
Truvantis has partnered with TokenEx to provide organizations with an uncompromising security solution. By working with Truvantis, organizations can evaluate risks, assess compliance, build their security and privacy programs, and manage day-to-day program operations. As a part of that service, Truvantis will design and support the deployment of TokenEx’s Data Protection Platform to remove sensitive data from your environment, replacing it with non-sensitive multi-use tokens that can be safely stored for business use with flexible third-party integrations.
This enables your organization to continue using the sensitive data you have classified and tokenized, with reduced risk and reduced scope of regulatory compliance, all within a comprehensive end to end security and privacy program.
This combination of services helps to streamline your business operations, reduce risk and improve your security and privacy programs ROI.