Bank­ing / Con­fi­den­tial Cloud Wallet

Back­ground

Many com­pa­nies with­in the Fin­Tech indus­try are reshap­ing how finan­cial ser­vices have been tra­di­tion­al­ly offered and con­sumed. With an over­flood of reg­u­la­to­ry audits of data secu­ri­ty meth­ods, orga­ni­za­tions need to take legal and com­pli­ance reg­u­la­tions seri­ous­ly to sur­vive and stand above the rest. 

Fur­ther­more, we see a mas­sive shift with­in the indus­try, with a grow­ing focus on the mod­u­lar­iza­tion of finan­cial ser­vices. Third-par­ty providers are becom­ing high­ly spe­cial­ized and tech­ni­cal­ly sophis­ti­cat­ed with the spe­cif­ic ser­vices they are putting on the mar­ket, mak­ing it a lot more flex­i­ble and easy for banks to rely on dif­fer­ent providers for spe­cif­ic finan­cial services. 

Chal­lenge

Espe­cial­ly in the con­text of the grow­ing mod­u­lar­iza­tion of finan­cial ser­vices, pro­vid­ing such ser­vices, while they are being out­sourced to third-par­ty providers, increas­es the risk of dig­i­tal theft tenfolds.

For exam­ple, a pay­ment ser­vice provider cre­at­ed a new capa­bil­i­ty offer­ing cash col­lec­tion ser­vices across retail­ers, which cre­ates an ele­gant low-cost, and low-risk option for enter­pris­es. Such busi­ness trans­ac­tions require a secure iden­ti­ty check beforehand.

How­ev­er, pro­vid­ing a secure iden­ti­ty for trust­ed busi­ness trans­ac­tions that is cloud-based and sup­ports require­ments of KYC, AML, and exten­sive risk man­age­ment is a chal­lenge in itself. Because such ser­vices today are built on high-cost man­u­al inter­ac­tions that have proven to pro­vide lim­it­ed secu­ri­ty and are com­plex and time-con­sum­ing for both the client and ser­vice provider.

Solu­tion: Con­fi­den­tial Wallet

The enclaive con­fi­den­tial com­pute wal­let is built to ensure data encryp­tion even while in use and give a val­i­dat­ed iden­ti­ty the need­ed trust and com­pli­ance. It comes with a series of inbuilt fea­tures to address the above chal­lenges, such as:

• Data remains encrypt­ed even when in use to retain data own­er­ship where it belongs
• Attain the nec­es­sary secu­ri­ty, pri­va­cy, and data sov­er­eign­ty com­pli­ance by design
• Enabling secure busi­ness trans­ac­tions even in cloud-based envi­ron­ments with no data pri­va­cy and data secu­ri­ty limitations

Rec­om­mend­ed Con­fi­den­tial Containers

enclaive offers a large port­fo­lio of Con­fi­den­tial con­tain­ers to shield sen­si­tive data in the fin­tech sec­tor from mali­cious threads. Promi­nent exam­ples include:

ArangoDB	Mari­aDB	Mon­goDB	Redis
Node­js	Python	Rust	Go	PHP
Ruby	Java	C	C++	C#