Prudential Financial has patented a system that protects personally identifiable information (PII) by using multiple keys for encryption. This method limits the impact of a potential breach, as accessing one key does not compromise all data. The system also regularly updates and deletes old key sets for added security. GlobalData’s report on Prudential Financial gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Prudential Financial, was a key innovation area identified from patents. Prudential Financial's grant share as of May 2024 was 71%. Grant share is based on the ratio of number of grants to total number of patents.
Secure token handler for personally identifiable information encryption
A recently granted patent (Publication Number: US11954230B2) discloses a token handler designed to secure personally identifiable information. The token handler includes a memory and a hardware processor that generates a set of public encryption keys, communicates these keys to a data originator, and receives requests to store encrypted user information. The processor decrypts the information upon redemption requests, utilizing private encryption keys corresponding to the public keys. Additionally, the token handler maintains a key vault with encryption keys and an encryption schedule to manage the encryption and decryption process efficiently.
Furthermore, the patent details methods for updating the encryption keys, deleting outdated keys, and rejecting redemption requests based on key age thresholds. The token handler can also establish connections with external devices, communicate encryption schedules, and public encryption keys to these devices. The system ensures secure handling of personally identifiable information by allowing the data originator to randomly select public encryption keys for encryption purposes. Overall, the patent outlines a comprehensive system for managing and securing sensitive user data through encryption key management and secure communication protocols.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
