That’s why Interswitch Group, one of Africa’s leading digital payments and commerce companies, has teamed up with Thales, a global heavyweight in digital security, to launch the CipherTrust Data Security Solution.

The security solution is a game-changer for businesses to keep their data safe and secure.

The CipherTrust solution was recently unveiled recently at a Customer Engagement Forum in Lagos, where key players from the financial and tech industries gathered to discuss the future of data security.

Hosted at The Wheatbaker Hotel, the event brought together Chief Information Security Officers (CISOs), Chief Information Officers (CIOs), and Compliance and Risk executives from various sectors, including commercial and microfinance banks, as well as fintech companies.

So, what makes CipherTrust standout? This solution is all about making sure that businesses can protect their sensitive information no matter where it’s stored—whether on-premises, in the cloud, or in a hybrid environment.

It’s got everything from advanced encryption to multiple-factor authentication, key management and access controls.

Basically, it’s the full package when it comes to data protection.

These features ensure that only authorised users can access sensitive information, giving businesses peace of mind about the  security of their data.

Plus, the platform’s compliance tools make it easier for organisations to meet both local and international regulatory requirements, which is increasingly crucial in today’s stringent regulatory environment.

One of the key takeaways from the forum was the importance of collaboration in fighting cyber threats. Data security isn’t just the responsibility of one organisation or sector, it’s a collective effort that requires cooperation across industries and borders.

By combining Interswitch’s expertise in payment solutions with Thales’ advanced data security technologies, the CipherTrust platform is setting a new standard for how Nigeria businesses should protect their data.

Discussions at the event also emphasised the need for continuous innovation in data security. As cyber threats become more sophisticated, so must the tools and strategies we use to combat them.

The CipherTrust Data Security Solution is designed with this in mind, offering a scalable and flexible platform that adapts to the ever-changing landscape of digital security.

As organisations continue to navigate the complexities of cybersecurity, the CipherTrust platform stands out as a beacon of innovation and reliability.

For businesses looking to stay ahead of the curve, investing in advanced data security solutions like CipherTrust is a necessity.

Interswitch is proud to be at the forefront of this movement, driving positive change and setting new standards for data protection.

This state-of-the-art data security solution is designed to protect organisations against data breaches and cyber threats, ensuring solid protection targeting the growing and dynamic security needs of businesses.

Launched at a recent Customer Engagement Forum at The Wheatbaker Hotel in Lagos, the event gathered Chief Information Security Officers (CISOs), Chief Information Officers (CIOs), and Compliance and Risk executives from diverse industries such as commercial and microfinance banks, as well as fintech companies, 

The forum featured expert-led discussions and presentations on the latest trends in data security, the growing threats facing businesses, and strategies for enhancing organisational defences.

In his keynote address, Tyoyila Aga, vice president of Financial Services at Interswitch Group, emphasised the key function of advanced technology in safeguarding data. He stressed the importance of compliance and collaboration within the data security industry.

“Our partnership with Thales exemplifies our commitment to leverage cutting-edge technology to protect our clients and partners. Regulatory frameworks around data security are becoming increasingly stringent, and organisations must ensure they are in full compliance to avoid penalties and protect their reputation. 

The CipherTrust Data Security platform is designed with these challenges in mind, offering comprehensive compliance features that make it easier for organisations to adhere to local and international regulations. Keep in mind that data security is a collective responsibility and it requires collaboration across industries, sectors, and borders,” Aga said. 

He asserted that the data security solution combines Interswitch’s expertise in payment solutions with Thales’ advanced data security capabilities, providing unparalleled protection for organisations’ sensitive information. 

“This platform offers a comprehensive suite of tools, including advanced encryption, key management, and access controls, to safeguard sensitive data across all environments, whether on-premises, in the cloud, or hybrid.”

Demonstrating how the CipherTrust Data Security Solution works, Neil Cosser, regional sales director for Africa, Thales Group elaborated on the practical applications and benefits of the CipherTrust Data Security Solution to businesses. 

“The CipherTrust Data Security Platform is a game-changer in data protection. By leveraging advanced encryption, technologies, multi-factor authentication, and sophisticated fraud detection systems, the data security solution is designed to protect sensitive data and ensure that only authorised users can access it.

By continuously updating these technologies, we can stay ahead of cyber threats and provide a secure environment for digital transactions,” he said.

In a fireside chat, Cosser said that Thales offers a robust security framework that ensures sensitive data is secure and organisations retain full control and transparency over their information, no matter where it’s stored. 

“The CipherTrust Data Security Platform represents a new era in data protection. With CipherTrust, businesses can confidently leverage their data’s full potential, while we handle the complexities of securing it,” he said. 

He further stated that beyond data security, the solution can amplify business capabilities, streamline operations, and enable informed decision-making, driving innovation, competitiveness, and sustainable growth.

Interswitch’s partnership with Thales is a forward-thinking approach to creating a more secure digital ecosystem and transforming the Nigerian security sector. 

This collaboration goes beyond technological progress, pointing to a focus on protecting data integrity and strengthening the security framework for businesses nationwide. 

Both companies are working to deliver innovative solutions that enable organisations to operate securely in an increasingly digital world.