PrivateServer HSM Ensures Volvofinans’ Secure Migration to EMV Cards

Algorithmic Research (ARX), a leading worldwide provider of electronic signatures and data security solutions, has implemented PrivateServer™ HSM (Hardware Security Module) appliances based solution at Volvo Financial Services’ European headquarters.

PrivateServer provides Volvofinans Konto with an integrated solution that enables it to distribute a new install base of payment cards that are compliant with the emerging EMV standard.

Volvofinans Konto is currently using the PrivateServer HSM to prepare data for integration with the new payment cards. "As the Swedish Volvo Dealers finance arm, we support the dealers’ product range with financing, card and insurance offerings," says Johan Palmquist, Smart Cards manager at Volvofinans Konto. "ARX has provided a solution that is secure and flexible, offering the high performance Volvofinans needs to meet the group's payment card requirements."

Commenting on these requirements, Ezer Farhi, VP of R&D, ARX, says PrivateServer is a highly secure (FIPS 140 level 3 validated), tamper evident hardware device. "We incorporate strict security measures to protect highly sensitive data; all sensitive operations are performed within PrivateServer’s trusted environment," explains Farhi.

ARX’s HSM technology also offers superior performance of both symmetric and asymmetric cryptographic operations. PrivateServer achieves 2000 symmetric transactions per second and up to 150 RSA signatures per second. PrivateServer’s high performance capabilities allow Volvo to reduce costs by reducing the total number of HSM’s required.

An additional benefit is PrivateServer’s ability to ensure Volvo is kept up-to-date with the latest EMV standards releases within a very short time. Further flexibility is enabled by the customizable PrivateServer modules developed by Farhi’s team at ARX.

ARX PrivateServer HSM is already in use in financial applications worldwide including Setefi of the Intesa Banking Group, Polcard, Cetrel, G&D Spain and Getronics, among others.

AB Volvofinans is an authorized credit market company working with sales financing via the Swedish Volvo dealerships. AB Volvofinans is owned by the Swedish Volvo dealerships via its investment company AB Volverkinvest (50%) and Ford via the subsidiary Ford Credit International Inc. (50%).

AB Volvofinans is the Parent Company of the Volvofinans Group.

Volvofinans Konto AB, is an authorized credit market company, which conducts credit card operations. Volvofinans IT AB, conducts IT- and production operations in conjunction with financial services.

For more information, visit www.volvofinans.se

About PrivateServer™

PrivateServer is ARX’s highly secure network attached, Hardware Security Module (HSM) that provides a secure environment for conducting sensitive cryptographic operations, secure key storage and management of a large number of keys.

PrivateServer provides a cost-effective, highly secure (FIPS validated), and reliable solution. PrivateServer offers solutions to a versatile range of industries: financial, commercial, and governmental. More information about PrivateServer is available here

About Algorithmic Research (ARX)

Algorithmic Research (ARX) is a leading global provider of electronic-signature and data-security solutions. The company offers a wide range of high-end and state of the art products and services designed to simplify, secure, and accelerate electronic transactions. ARX specializes in designing and implementing easy to use, simple to deploy, electronic signature and security solutions, combining software and hardware products, for small, medium and large computing environments.

ARX has more than 18 years of experience in assisting financial institutions, governmental organizations and commercial sectors to secure and streamline their processes and transactions.