Shaping Nigeria’s Digital Future: A Strategic Leap in Data Security from Interswitch and Thales

Data is the heartbeat of business operations in today’s dynamic digital world, driving transactions, communications and almost every interaction in the digital space.

As organizations increasingly use digital platforms, they become more susceptible to a range of cyber threats.

This growing vulnerability underscores the critical need for robust data protection strategies that can evolve with emerging threats.

As a strategic step to meet this need Interswitchone of Africa’s leading integrated payments and digital commerce companies has joined forces with ThalesA global leader in digital security and data protection solutions, launches CipherTrust Data Security Solution. This cutting-edge platform is designed to protect organizations from data breaches and cyber threats.

CipherTrust’s data security solution was launched at the recent Customer Engagement Forum held at the Wheatbaker Hotel in Lagos. The event was attended by Chief Information Security Officers (CISOs), Chief Information Officers (CIOs), Compliance and Risk Management executives from various sectors including financial and non-financial industries, fintech and other financial institutions.

From left to right: Chijioke Eze, Head of Banking Technology, Interswitch; Tina Olaore, Head of Digital Banking, Interswitch; Neil Cosser, Regional Sales Director Africa, Thales Group; at the Interswitch and Thales Cyber Security Summit held recently in Lagos.

The forum served as an important platform to discuss the latest trends in data security, emerging threats and effective risk mitigation strategies. Industry experts shared their views on the evolving data security landscape, highlighting the growing complexity of threats and the important role of advanced security measures in protecting organizations.

The partnership between Interswitch and Thales combines Interswitch’s deep expertise in payment solutions with Thales’ advanced data security technologies. Companies like Interswitch and Thales don’t just provide security solutions; they build the trust that underpins the future of digital business. Their work ensures that Nigerian businesses can operate without fear of data breaches, creating an environment where innovation and growth can flourish.

The CipherTrust Data Security Solution is changing the way data security is approached in today’s financial ecosystem. The platform counters the latest trends, threats and data security breaches by offering a comprehensive and adaptable protection mechanism. Whether companies operate on-premises, in the cloud, or in a hybrid model, the platform provides critical features such as advanced encryption, key management, and access control to ensure data protection across all environments.

In his keynote address, Toyila Agha, Vice President of Financial Services at Interswitch, emphasized the importance of using advanced technologies to protect data. He emphasized the importance of compliance and collaboration within the data security ecosystem. “Our partnership with Thales demonstrates our commitment to using advanced technologies to protect our customers and partners,” Agha said. “The regulatory framework for data security is becoming increasingly stringent and organizations must ensure full compliance to avoid fines and protect their reputation.”

Agha elaborated on the features of the CipherTrust platform, noting that it integrates advanced encryption, key management, and access control to provide end-to-end protection for sensitive data across all environments—whether on-premises, in the cloud, or in a hybrid installation. “This platform offers a comprehensive set of tools designed to solve the complex challenges of modern data security,” he added.

The CipherTrust platform combines data discovery, protection, and control into a single platform, simplifying operations for enterprises navigating complex compliance and multi-faceted cloud environments. By streamlining these processes, the platform gives organizations the clarity and control needed to effectively manage data security.

Neil Cosser, Regional Sales Director for Africa at Thales Group, demonstrated the practical application and benefits of the CipherTrust Data Security Solution. He highlighted the platform’s role in revolutionizing data protection. “CipherTrust’s data security platform is a game-changer for data security,” said Cosser. “By using advanced encryption, multi-factor authentication and sophisticated fraud detection systems, it ensures that sensitive data remains secure and accessible only to authorized users. Our continuous updates to these technologies help us stay ahead of cyber threats and provide a secure environment for digital transactions.”

During the fireside chat, Cosser detailed how the CipherTrust platform simplifies data security management. “CipherTrust represents a new era in data protection,” he explained. “With CipherTrust, enterprises can confidently harness the full potential of their data while we manage the complexities of protecting it.” Cosser also noted that in addition to improving data security, the CipherTrust platform can enhance business capabilities, streamline operations and support informed decision making. This in turn drives innovation, competitiveness and sustainable growth.

As Nigeria continues its journey towards a fully digital economy, the importance of robust data security systems is becoming increasingly clear. The collaboration between Interswitch and Thales goes beyond meeting today’s security needs, to anticipating tomorrow’s challenges and equipping businesses with the tools they need to meet those challenges. By doing so, they enable organizations to unlock the full potential of their data, increasing their competitiveness and driving innovation in a safe and secure digital environment.