The electronic money issuer Treezor has deployed the SafeNet Data Protection On Demand (DPoD) platform from Thales to protect the personal and financial information of its users. The cloud-based HSM service will allow Treezor to remain compliant with data protection regulations like GDPR and the Mastercard network.

“The financial industry is one of the most regulated in the world, so it can be tricky to find that balance between innovation and compliance,” said Thales VP Todd Moore. “With SafeNet Data Protection on Demand, Treezor can offer innovative solutions across its payment platform, while ensuring a transparent and secure approach that satisfies regulators and customers.”

Treezor has been growing at an astronomical rate for the past few years, jumping from €400,000 worth of transactions in 2017 to €5 billion in 2018. The company opted for DPoD after a one-month trial, during which it was able to get the system up and running in a matter of minutes. The solution offers high service level availability, in addition to a transparent and predictable pricing scheme.

“We’re able to give our customers a clear insight into costs and availability of our services,” explained Treezor CEO Eric Lassus. “SafeNet Data Protection On Demand is ideal for our needs of offering services simply and effectively across our entire payment chain.”

Treezor was recently acquired by the French bank Societe Generale. Thales, meanwhile, just completed its acquisition of Gemalto.