X9’s New PKI System Is Purpose-Built for the Financial Industry

After about eight years of planning and development, the Accredited Standards Committee X9 Inc. (ASC X9) is ready to launch its new PKI system — one that’s custom-built to meet the security needs of the Financial Services industry

For decades, the financial industry has secured payment networks with digital certificates from publicly trusted (Web PKI) certificate authorities. That approach works, but it’s less than ideal for a simple reason: ATMs, credit card machines, and other financial networks function very differently than web browsers, and they have different security needs.

X9, a non-profit standards committee that represents ~100 different banks and financial institutions, is launching a new public key infrastructure for the financial services industry. The X9 Financial PKI is powered by DigiCert and has been built from the ground up to better serve the needs of financial services companies — both now and in the future. For example, the PKI industry’s increasing preference toward shorter digital certificate validity periods could cause many issues for financial services organizations that deploy hardware with 10+ year lifespans.

Let’s take a look at what the X9 PKI is, how it’s been built, and how it will be used.

Let’s hash it out.

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