Data Encryption - Encryption Keys

SSL 256 Encryption is used to secure the communication between the browser and the server where the web Platform is hosted. 

Bank details are saved to the database in an encrypted form. 

Definitions

Encryption: This is the process of locking up (encrypting) information using cryptography. Such information appears illegible if accessed unless a corresponding key is used to decrypt the data. 

Decryption: The process of unlocking encrypted information via a key. 

The Company utilise both asymmetric and symmetric key encryption algorithms, depending on the systems, purpose, and information. The type of encryption is decided by the IT Manager after assessing the requirements of the information and transfer.   

Asymmetric Key Encryption Algorithms: A type of encryption algorithm whereby two different keys are used. One key is for encrypting the information and the other is for decrypting. This type is also known as public-key encryption. 

Symmetric Algorithms: These are also referred to as “secret key encryption” and use the same key for both encryption and decryption.