Thales UK, a provider of information security systems, has completed a security upgrade of Sarie payment system for Saudi Arabian Monetary Agency, SAMA.
Under the contract awarded by the Saudi Arabian Monetary Agency (SAMA), Thales provided the security components for the Sarie real-time gross settlement (RTGS) system which protects the 14 trillion Saudi Riyal ($3.7 trillion) payment transactions made in the Kingdom every year. The project has been delivered through international turnkey system, Thales’s channel partner in the region.
Thales’s security upgrade secures Sarie payments with the latest encryption and digital signature techniques. The security techniques are aligned with the latest international banking standards to ensure that the Kingdom of Saudi Arabia maintains its reputation for having the most progressive and secure RTGS payments infrastructure in the region.
SAMA has worked with Thales for over 10 years and this latest security upgrade sees Thales providing further security enhancements for the Sarie system. Thales has replaced the existing key management system with an application compatible with the SAMA public key infrastructure gateway, while the Thales WebSentry provides SAMA’s employees with cryptographic functions such as secure log-on, encryption and message authentication.
Thales has also enhanced the standard Thales Host Security Module (HSM 8000) platform so it can be used with digital certificates issued by the SAMA e-Trust Gateway for generation and verification of digital signatures. Digital signatures are combined with smart cards to secure access and secure interbank payments, guaranteeing non-repudiation. This protects SAMA’s banking community from information theft through secure exchange and storage of digital data.