A Safer, Faster Solution To Simplify Financial Data Security And Compliance
Our advanced security platform empowers banks, financial services, or insurance businesses to easily meet complex sensitive data security requirements and exceed privacy regulations. Data protection is made ready with Rixon Technology.
What is tokenization in banking?
Tokenization in banking refers to the process of replacing sensitive data such as credit card numbers, bank account numbers, and other personal identification information with a unique identifier or token. This is done to increase security and reduce the risk of fraudulent financial transactions or data breaches of sensitive customer data.
When a customer makes a purchase using their credit card, the merchant sends the card information to the payment processor, which then generates a token to represent the card number. The token is then sent back to the merchant, who stores it in their system for future transactions. This way, the merchant does not store the actual credit card number, which reduces the risk of the number being stolen in a data breach.
Tokenization can also be used for other types of critical data, such as bank account numbers or social security numbers, to protect against identity theft and other types of fraud. In addition to improving security, tokenization can also help to simplify and streamline the payment process, making it faster and more efficient for both customers and merchants. Financial institutions should take advantage of the data protection tokenization provides.
BFSI Data Security
Traditional security technology systems are reactive, remaining complacent until the next big data breach. Rixon takes a proactive approach to data security for financial services companies. Our technology allows organizations to proactively design their security posture, based on their unique risk tolerance and the compliance thresholds without architecture changes.
Financial Sector Compliance Made Easy
Regardless of the data type or clients you serve in the financial industry, the Rixon platform will allow you to simplify your processes and exceed compliance requirements. This is critical for ensuring your clients’ data is protected.
Complete Data Flexibility for Financial Organizations
download Use Case
Discover Why The Rixon Advanced Security Platform is the Future of Financial Services and Banking Data Security
What People Say About Us
Rixon’s product is a game changer! It is simple, easy to implement, and very cost effective. I’m not aware of another product like it.