Aimed at enterprise customers facing increasing threats of data breaches, the new IBM Z mainframe features “breakthrough” encryption capabilities that can secure information in any cloud application or database at all times, the company said today.
The IBM Z (pictured above), which can handle more than 12 billion encrypted transactions every day, was designed following more than three years of input from information security executives, data security experts, and more than 150 company clients around the world. IBM said the mainframe brings “significant advances” in encryption capabilities for banks, healthcare providers, government agencies, and other users with critical data security needs.
IBM said its new mainframe is also aimed at helping organizations better meet new regulatory requirements such as New York state’s cybersecurity guidelines for financial services companies or Europe’s General Data Protection Regulation, which goes into effect next year.
Easier, Faster Data Protection
The average cost of an enterprise data breach comes to more than $3.6 million, according to the 2017 Cost of Data Breach Study produced by IBM Security and the Ponemon Institute. That’s down 10 percent from the $4 million noted in last year’s study, in part because of the current strength of the U.S. dollar. However, the risk of a material data breach continues to grow, with organizations facing a 27.7 percent likelihood of such an event over the next two years, the new study found.
The IBM Z offers pervasive encryption so users can quickly and easily encrypt bulk data at the cloud scale, IBM said. That’s a switch from the previous approach to enterprise encryption, in which only a small amount of the total data handled is encrypted because of the complexity, cost and performance issues involved.
IBM cited research that shows only around 2 percent of corporate data today is encrypted, compared to more…