French banking-as-a-service platform Treezor has deployed Thales’ SafeNet Data Protection On Demand solution to secure its entire payment chain.

The deployment will enable Treezor, an electronic money issuer, to comply with data privacy requirements such as that of the French regulator ACPR, Mastercard, and the European Union’s General Data Protection Regulation.

According to Thales, the French fintech selected its cloud-based hardware security module (HSM) solution following a 30-day evaluation that demonstrated its cost-effective and user-friendly capabilities.

Treezor CEO Eric Lassus said: “Innovation is the lifeblood of how we operate, but it should never come at the expense of security or vice versa.

“Part of our ethos is to work extremely closely with our clients to understand their needs, which led to the creation of our payment platform using standard APIs.

“As a result, we need a solution that meets our security, management and commercial needs.”

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The deployment of SafeNet Data Protection On Demand is said to facilitate swift deployment and easy integration of cloud HSM services at Treezor.

The solution is said to have a 99.95% SLA, unlike other cloud HSM services on the market.

Thales vice-president of encryption products for cloud protection and licensing activity Todd Moore said: “With SafeNet Data Protection on Demand, Treezor can offer innovative solutions across its payment platform, while ensuring a transparent and secure approach that satisfies both regulators and customers.”

Last year, Treezor issued more than 500,000 cards with €5bn in transactions.