JSE-listed trusted transactions company, Prism Holdings, is the first company in Africa to achieve the international security certification, FIPS 140-2 for its Incognito TSM410 (Transaction Security Module). The module is a tamper-resistant, cryptographic security device that offers high-performance, high-security services used in electronic funds transfer (EFT) switches and other top-end transaction processing arenas.
The FIPS (Federal Information Processing Standards) 140-2 certification, a requirement for entry into several markets including the US and Europe, places Prism within an exclusive group of the world`s top security module suppliers and overcomes a barrier of acceptance that historically has faced products of African origin.
According to Wayne Donnelly, Crypto Product Manager at Prism, the Incognito TSM410 is displayed on the FIPS certification list, which provides valuable product leads for the company and raises its international profile.
"Prism has seen a 1000% growth in sales of the Incognito TSM410 since achieving the FIPS certification. Back-orders on the product have increased to three months and we have had to up production to meet demand.
"Achieving this certification offers our customers in various sectors, from retail and banking to telecommunications, the assurance that they can use our product with confidence," says Donnelly.
Certification of the Incognito TSM410 was funded in conjunction with the IDC`s competitiveness programme and during the course of 2004, substantial time and money was invested to ensure Prism was able to offer an internationally competitive product in the High-End HSM (Hardware Security Module) market.
Donnelly explains: "Prism had to position its flagship Incognito TSM410 module in a way that not only met and surpassed global standards to obtain recognised certifications, but also broke the entry barrier in terms of price versus performance.
"Each market segment, whether local, international or via industry, imposes minimum requirements that have to be met with regards to standards and technology employed. Prism had to ensure compliance with these in order to pursue new business in these segments.
"While achieving the higher levels for FIPS 140-2 certification, Prism has managed to ensure its product remained competitively priced, thus positioning the Incognito TSM410 as a recognised alternative to other HSM vendors` products," he concludes.
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FIPS (Federal Information Processing Standards) 140-2 is the Security Requirements for Cryptographic Modules set by the US government.
It sets out the security requirements that are to be satisfied by a cryptographic module utilised within a security system protecting unclassified information within computer and telecommunication systems operated by a Federal agency or by a contractor of a Federal agency or other organisation that processes information (using a computer or telecommunications system) on behalf of the Federal Government to accomplish a Federal function.
Prism Holdings
JSE-listed Prism Holdings Limited is a leader in the field of secure electronic transaction technologies and services. The group has a strong presence in SA and an established and expanding footprint across Africa and South-East Asia. Prism`s head office is located in Johannesburg and has a regional office in Kuala Lumpur, Malaysia.
Prism has a proven track record in the delivery of trusted transaction technologies and end-to-end solutions for the retail, utilities, banking, cellular and petroleum industries. The group has developed and implemented innovative transaction and payment-centric intellectual property that bridges the following technologies:
* Chip cards including SIM cards, financial smart cards and prepaid telephone cards.
* Point-of-sale frameworks, applications and devices.
* OEM transaction modules including PINpads, card readers and outside payment terminals.
* Transaction security modules and servers and trusted centre solutions.
* In-store and forecourt payment servers, wireless application messaging gateways and value-added-services gateways.
* End-to-end secure electronic payment architectures for wired and wireless networks.
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