Versasec: Bolstering Information Security for Advanced Credential Management

Versasec: Bolstering Information Security for Advanced Credential Management

Joakim Thorén, CEO, VersasecJoakim Thorén, CEO
Cyber threats are a corporate reality. Companies in every sector experience a risk of data hacking and various other threats–some malicious, some accidental, some from competitors and some from insiders. The energy sector is no different. Companies operating in this domain are particularly vulnerable due to their reliance on large field workforces as well as the industry’s reliance on mobile and cloud computing.

As the threats continue to grow in sophistication and impact, finding viable, cost-effective solutions has never been more important. The major constraints that prevent many small and medium-sized companies from adopting threat-fighting technologies with a very high level of security are either due to their inaccessibility or high cost of ownership. Swedish identity access management provider Versasec is tackling that problem by addressing the issue where it often starts: access to the systems. Versasec’s solution enables energy companies and others to securely authenticate, issue and manage user credentials through its cost-efficient and easy-to-use vSEC:CMS.

“Versasec has innovated smart card or Credential Management Systems (CMS) that help companies manage and better understand who has access to their systems and data,” says Joakim Thorén, Versasec’s CEO. To affect the greatest impact, “We ensure that all the entities are managed equally. We start with privileged users that require the highest security and in the later part we deploy across the entire organization.”

Versasec ensures an end-to-end relationship throughout the lifecycle between a user and an authentication device. Versasec’s flagship product suite, vSEC:CMS assists to administrate and manage digital identity devices like smart cards and mobile phones. The company offers top-notch support, implementation, and training to organizations of all sizes.

The importance of managing access is heightened with the proliferation of BYOD (bring your own devices), in which workers in the field require the ability to use their own smart devices on corporate networks.

Through our Virtual Smart Card the enterprise environment becomes more productive and it ensures a high level of secure mobility

This proliferation of new devices on the network creates more access points and potential weaknesses that hackers can exploit. Versasec’s Virtual Smart Card is built upon Trusted Platform Module or a secure processing chip. It makes the system impossible for attackers to either monitor or manipulate the information as the data stored on the virtual card can’t readily be exported from it. Thus, smart cards provide a secure operating environment. “Through our virtual smart card the enterprise environment becomes more productive and it ensures a high level of secure mobility,” says Thorén.

In addition to the energy sector, Versasec serves a broad range of entities and industries, including government, healthcare, finance, automotive and aerospace, IT services, hardware, retail, and telecom. As an example, when one leading European-based electrical grid company faced concerns about the security of its networks, it contacted Versasec about ways to improve its identity and access management system. The customer required a very high level of security in its trading room that would help it confirm its position in the marketplace. The client deployed Versasec’s credential management system along with smart card access in its network to raise the needed level of security.

In data security, there is no option to sit still, and Versasec’s Thorén says his company is committed to continuous innovation. Versasec will continue to develop its solution around enhanced levels of security for mobile devices. “Today, customers use our services only as an on-premise solution in their IT environment. In the coming years we want to go to the cloud, so small and medium-sized enterprises also can take advantage of this high level of security,” says Thorén.

To that end, Versasec is committed to working with partners and integrating other premier identity access management products into its solutions to deliver the most robust offerings for managing identification related information.

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Joakim Thorén, CEO

Providing IT solutions in the identity and access management space with focus on easy deployment of smart cards with innovative smart card management systems