Barclays Bank has announced its adoption of encryption management software, to safeguard sensitive customer and corporate information across its operations.
The bank needed a way of managing the variety of encryption technologies and keys used to control them across its global IT infrastructure. It also needed to accommodate business growth and ensure compliance with complex regulatory requirements in local markets.
Barclays will work with security vendor, PGP Corporation, to extend the vendor's encryption technology and develop new security measures for both customers and stakeholders of its Retail and Commercial Banking organisation.
"The breadth of PGP solutions assured us that it could address a wide variety of encryption needs today, whilst supporting innovation for tomorrow," said Rick Carey, Barclays Global Retail and Commercial Banking Technology chief operations officer.
The new encryption platform will provide an enterprise encryption framework and architecture for shared user and key management. It will automate centralised policy and provisioning across PGP and third-party encryption applications. Barclays hopes this will reduce related operational costs, as well as ensuring better levels of global compliance.
Carey added that the new technology "was capable of supporting the specific complexities of a regulated global organisation such as Barclays".
