Bluefin, the integrated payments pioneer in PCI-validated Point-to-Point (P2PE) encryption and tokenization services that protect payments and sensitive data, announced that it has selected as winner of the “Best Financial Transaction Security Platform” award in the 8th annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market.
Bluefin’s integrated payment and data security technologies include PCI-validated point-to-point encryption (P2PE) for retail, call center, mobile and unattended payments, as well as the ShieldConex® data security platform that protects personally identifiable information (PII), protected health information (PHI) and payment data entered online.
ShieldConex is cloud-based and utilizes both hardware-based encryption and vaultless tokenization technology to help organizations meet data security compliance standards and secure customer data. ShieldConex immediately masks sensitive data upon entry through Bluefin’s iFrame or APIs, ensuring that it never travels through a system or network as clear text. Recent upgrades detokenizes data in real-time and forwards it to any processor for authorization.
“With more data and payment security regulations, organizations face a complex environment in protecting data upon entry and in storage,” said Steve Johansson, Managing Director, FinTech Breakthrough. “ShieldConex addresses these complexities head-on, bringing ease and security to the payment space by helping organizations protect customer payment data throughout the entire customer journey. By combining universal tokenization with its existing ShieldConex® and Decryptx® solutions, Bluefin is solving the complex payment and data security needs of Tier-1 merchants. We extend our sincere congratulations to the entire BlueFin team for a well-deserved 2024 FinTech Breakthrough Award win.”
The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Lending, Payments, Investments, RegTech, InsurTech and many more.
“Bluefin has an unwavering commitment to helping brands keep their data secure and their customers happy as the threat landscape evolves. By using our technology to hide sensitive data, we can essentially devalue payment data and make it useless to hackers if a data breach occurs,” said Tim Barnett, CIO of Bluefin. “We’re thrilled to receive FinTech Breakthroughs’ ‘Best Financial Transaction Security Platform’ award and will continue to deploy a mix of breakthrough encryption and tokenization technologies to secure payments and data neutralizing the intent of hackers.”
The ShieldConex platform takes the information in an organization’s databases, files and applications after a customer completes a form, and replaces it with randomly generated characters, or “tokens”, that serve as placeholders. Additionally, data remains encrypted while the payment occurs, so a shopper’s cleartext card data never even enters the merchant’s systems. ShieldConex helps protect customer data at all times – mid-transaction, at rest or actively in use.
SOURCE: Businesswire