For many CTOs, daily operations are a balancing act of maintaining systems and cutting-edge technology while complying with the laws and regulations relevant to their host organization. But what happens when you miss a step and have Sarbanes-Oxley Act violations? If you’re willing, it can lead to a culture shift that embraces compliance, QA, and testing to prevent future issues.

A hardware security module (HSM) is a tamper-resistant physical computing device that safeguards and manages digital keys, performs encryption and decryption functions for digital signatures, and provides strong authentication and other cryptographic functions. HSM has mature technology, with high availability, scalability, and usability. These modules traditionally come in the form of a plug-in card or an external device that attaches directly to a computer or a network server.

Money has been gradually digitized for decades, and the electronic transfer of funds is nothing new. But over the last five to ten years, internet technology and e-commerce have made digital payment methods the standard; these trends have sped up dramatically since the pandemic. Gen Z is leading the fray with near-total adoption and use of digital payments.

In 2022, we already saw the emergence of payment SaaS, the adoption of Blockchain Technology, and the evolution of Central Bank Digital Currency. We also saw new payment modes like Buy Now Pay Later, Biometric Authentication, and Biometric Payments and an increase in the use of AI and ML in fraud detection. Now, what should we look out for in 2023?