Caribbean Credit Bureau Selects CipherCloud for Cloud Data Encryption
Cloud Data Encryption is a key part of Caribbean Credit Bureau’s Cloud Platform upgrade
SAN JOSE, Calif., October 2, 2013
CipherCloud, the leader in cloud information protection, announced today thatCaribbean Credit Bureau has selected CipherCloud’s data encryption software to protect sensitive customer information from privacy, security and compliance threats in the cloud.
Caribbean Credit Bureau (CCB) has operated in the Dutch Caribbean for a decade and is a group of consumer credit bureaus that enables sharing of select consumer credit details between member organizations. The company is deploying CipherCloud to ensure compliance with the stringent privacy regulations that govern the handling of consumers’ personally identifiable information (PII), as required by applicable local laws and international guidelines.
Caribbean Credit Bureau is using CipherCloud encryption to scramble sensitive consumer information residing on its full-service, state-of the-art registry platform, owned and maintained by CCB International Holding Ltd. Through CipherCloud, CCB will be able to leverage the strength of AES 256-bit symmetric encryption to protect customer information against data theft, third party surveillance and other cloud risks. The additional provision of customer enabled key management provides CCB with another layer of access control to sensitive data, blocking access even from the service provider for the cloud in use. Other recent upgrades have enabled registration of consumers’ total credit exposure (referred to as ‘positive registration services’), which helps credit institutions meet their risk mitigation objectives and prevent the over-extension of consumers’ credit limits.
“We have specific legal and moral responsibilities with regards to privacy towards consumers and to the members that subscribe to our services. Cloud based technology lends itself exceptionally well for dynamic platforms such as credit registries that must provide access from multiple locations and various islands. Data protection, however, is a discussion that comes up immediately, and rightfully so. We therefore urged CCB International Holding Ltd. to look for a state-of-the art solution to protect consumer data,” said Niko Kluyver, director of Caribbean Credit Bureau in Curaçao. “That requirement led the platform supplier to CipherCloud, who presented an elegant solution to encrypt the cloud-based data securely and efficiently.”
A key benefit of CipherCloud’s encryption software according to Kluyver is that Caribbean Credit Bureau retains the encryption keys, allowing complete control over the privacy of the data. Even if anyone would intercept data files, which in itself is hardly possible, he or she could not understand or decrypt the content of the data.
“If CCB could not encrypt the data using CipherCloud it would have been a challenge to provide the level of protection our members require,” said Kluyver. “But being able to use the cloud is strategic because it lowers our costs, frees up resources and mitigates many other risks. Instead of working on the commodity side of IT services, we can focus on business related issues that advance and differentiate our service with the comfort of top line security.”
Kluyver said that other options in the market were considered, but based on CCB’s data privacy requirements he concluded that “the encryption by CipherCloud with full and exclusive customer control over the encryption keys gave us just what we were looking for.”
“This deployment with Caribbean Credit Bureau (CCB) extends our position as the premier provider of cloud information protection technologies to the financial services industry,” said Pravin Kothari founder and CEO of CipherCloud. “We are pleased that our ground-breaking cloud encryption technology is helping organizations like CCB leverage the efficiencies of the cloud by overcoming the complex data privacy, security and compliance risks.”
About Caribbean Credit Bureau (CCB)
CCB International Holding Ltd. provides technology platforms for consumer credit bureaus in the Caribbean.
For more information, visit www.caribbeancreditbureau.com.
CipherCloud, the leader in cloud information protection, enables organizations to securely adopt cloud applications by overcoming data privacy, residency, security, and regulatory compliance risks. CipherCloud delivers an open platform with comprehensive security controls, including AES 256-bit encryption, tokenization, cloud data loss prevention, cloud malware detection and activity monitoring. CipherCloud’s ground breaking technology protects sensitive information in real time, before it is sent to the cloud, while preserving application usability and functionality.
CipherCloud has experienced exceptional growth and success with over 2 million business users, more than 250 million customer records, in over 10 industries, and with marquee customers around the globe.
The CipherCloud product portfolio protects popular cloud applications out-of-the-box such as Salesforce, Chatter, Box, Google Gmail, Microsoft Office 365, and Amazon Web Services. Additionally, CipherCloud for Any App and CipherCloud for Databases enable organizations to extend data protection to hundreds of third-party cloud and private cloud applications and databases.
CipherCloud, named as SC Magazine’s 2013 Best Product of the Year, is backed by premier venture capital firms Andreessen Horowitz, Index Ventures, and T-Venture, the venture capital arm of Deutsche Telekom. For more information, visit www.ciphercloud.com and follow us on Twitter @ciphercloud.
Director of Corporate Communications