IdHaven –Our data security solution for Bank Account details

At TEKenable we work with large enterprise customers to address internal challenges and some of the big industry issues that they face.

One very common challenge is the need to protect sensitive bank account identifiers, particularly customer IBAN details from theft or accidental exposure. We’ve studied this problem and can offer a very effective solution.

That’s why we’ll shortly be launching id-Haven, a new data security solution focused on Customer Bank Account Identifiers. We’ve designed id-Haven to totally remove the risk of exposure of bank account identifiers from within your organisation.

Id-Haven was designed in TEKenable Labs – our new product development facility, in conjunction with a research partnership with experts in the University of Ulster Computer Science Department. We’re supported in our new venture by a combination of private investor funding, financial assistance from Enterprise Ireland and Intertrade Ireland and a great advisory board.

How did we develop id-Haven? We did it by turning the traditional data security model on its head.

For centuries, going back to before the computer age, security has worked on the principle of ‘defence in depth’. This concept is clearly visible in the medieval castle which had multiple layers of security.

For a start the castle was typically built in open country with good visibility on all sides. It was frequently surrounded by a moat with a retractable drawbridge. The next layer of security were high walls with watchtowers and sentries posted to spot approaching enemies. Within the castle walls, a layer called the “Keep” was built to secure the King and his valuable assets if all else failed.

The ‘defence in depth’ approach to security was adopted when computer networks became widely available. It’s still popular today and used by all enterprise organisations which deploy technologies such as Firewalls, AV, IDS, DLP, AV, AM, SEIM etc. However, it has two big weaknesses.

First, just as the medieval castle was vulnerable to a traitor who might let the drawbridge down for the enemy or bring in a large wooden horse, the modern organisation is vulnerable to a security breach from within, be it deliberate or accidental. Layers do not prevent a malicious authorised user from photographing, videoing, printing or just extracting data, disguising it and from removing it from the building.

Second, all enterprise security including ‘defence in depth’ is a trade-off between security and usability. A castle with no gates for entry is more secure but not very usable and all organisations need electronic gates for entry such as email, web sites, integrations with other companies etc. There are usually a lot of gates to be protected. Cost is always a factor as well of course.

That’s why we took a different approach when we developed id-Haven.

Id-Haven is a product specifically targeted at organisations holding a large volume of client bank account identifiers, specifically Account and IBAN details. While it takes a different approach to ‘defence in depth’ we don’t compromise security. While no security is 100% proof against attack we are confident that id-Haven is the highest level of enterprise class protection available anywhere today. Id-Haven requires no changes to be made to existing business critical software for it to be installed and operational giving a “Procure to Protect” time measured in weeks not months. If you are a large-scale processor of Direct Debit or Direct Credit transactions contact me and let us show you why we say this.

If you’re interested in learning more about id-Haven and would like to hear more about what it can do for your business, visit our website, http://www.id-haven.com/ or contact me personally at peter.rose@id-haven.ie