Multicloud security firm Fortanix Inc. today announced a new partnership with identity and access management provider Versasec AB that will help organizations protect cryptographic processes, maintain the integrity of their credentials and avoid the risks associated with key exposure.

The collaboration seeks to address the challenge global institutions have in migrating master keys from hardware security modules. HSMs are specialized devices designed to securely manage, process and store cryptographic keys and perform encryption and decryption functions.

The Fortanix-Versasec collaboration addresses the challenge with a solution that allows for the calculation and transfer of all keys diversified from the old HSM master key. Doing so allows for a smooth transition to using Fortanix HSM master keys for future operations.

The collaboration has been tailored for heavily regulated industries such as banking, financial services, government, healthcare, e-commerce, retail and energy. It combines Fortanix’s key management capabilities with Versasec’s vSEC credential management system to enable secure storage and diversification of administrative keys.

Key benefits include protecting master keys used in cryptographic operations and securely generating, storing and managing keys critical for administrative tasks. The integration also ensures keys are safeguarded from unauthorized access or tampering, helping organizations comply with stringent security standards and regulations.

“Combining Fortanix’s capabilities with Versasec’s best-in-class credential management is an ideal solution for enterprises looking to secure crypto operations, even in complex use cases,” said Chief Product Officer Anuj Jaiswal. He added that the “collaboration has already delivered significant value to one of the world’s largest financial institutions and together, we look forward to helping many more enterprises, especially in regulated and privacy-sensitive industries, derive the same benefits from implementing the joint solution.”

Fortanix was previously in the news in October when it announced a partnership with digital certificates and certificate lifecycle management firm Sectigo Ltd. The partnership allows enterprises to secure their software supply chain by automating the issuance of code-signing certificates.

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