CHARLOTTE, N.C.—Virtual StrongBox, Inc. said it has received U.S. Patent No. 9,003,183 for its secure storage system and file encryption method for safeguarding data at rest.
The company said it’s a significant development given the number of data breaches that have been occurring.
The technology behind Virtual StrongBox’s patent allows encryption of all data at rest in every database that stores PII. But CEO Ron Daly said the bigger story is what the patent represents: a new day in document security.
“At Virtual StrongBox, we felt it was time to take action against the ongoing theft of consumer data,” Daly said. “I mean, our industry is supposed to be the best of the bunch in protecting PII, yet the breaches continue – and not just at credit card companies and retailers. So, we took our combined 175 years of financial institution experience and knowledge of the regulations and financial institution security needs and designed a better system.”
Daly says the result is Virtual StrongBox’s unprecedented level of security through a proprietary file system using dedicated, redundant storage devices.
The My Virtual StrongBox solution already safeguards the important personal documents of more than 3.5 million people. Through consumers relationships with nearly 260 financial institutions, wealth-management firms and insurance companies, My Virtual StrongBox protects their deeds, wills, trusts, tax files, insurance policies and other important papers, the company said.
“Encryption at rest can make a huge difference in security, and we believe it should be the industry standard,” Daly said. “When you think about these cyber-crimes, it adds up to a phenomenal amount money to recover from lost business, reputation damage, regulatory bear down and customer claims – not to mention the toll on victims. With the right security protocol, it very likely could have prevented or mitigated much of the damage at retailers.”
For info: www.VirtualStrongBox.com.