You care about your financial security, and so do we. It’s even more important to make sure your private data is protected when you’re handing control over to your child. That’s why Greenlight goes above and beyond to offer the best possible security, starting with encryption.
What’s Encryption and How Does Greenlight Use It?
You’ve probably heard of encryption before. Apple uses encryption to keep your text messages secure by encrypting them, and WhatsApp does the same thing. But what does it actually mean?
Essentially, encryption is the practice of transforming data into a non-decipherable language to hide its meaning. The only way to translate it back is with a special key unique to your data. So the only way for someone to crack your encrypted data is to crack the key, which is designed to be as unique and unpredictable as possible.
So what does that have to do with Greenlight? Well, we encrypt our entire database. Your private data will stay private even if hackers somehow make it into our system. Don’t worry, though, we’ve got plenty of other security measures in place to make sure that never happens in the first place.
How Hashing Keeps You Even More Secure
Encryption is one of the best ways to keep your online data secure, but it’s not always the best. After all, it is possible that your key could be cracked, but thanks to hashing you don’t have to worry about that either.
Hashing is similar to encryption, only it can’t be reversed. Instead, it uses an algorithm to scramble your data permanently. The trick is to hash multiple bits of data (like a password) through the same algorithm and then see if they match up afterward. If they do, it’s the right password. Greenlight uses hashing to keep your most important data totally protected no matter what.
Even More Greenlight Security Features
You might think encryption and hashing are more than enough, but when it comes to your financial data we’re just getting started. All of our card processing is done through companies that are totally compliant with Payment Card Industry Data Security Standard, established by a council of major credit card companies like American Express, Discover, MasterCard and Visa. So your money will be treated the same as it would be with companies you already trust to control your finances.
On top of that, Greenlight uses everything from firewalls (special software designed to keep unwanted visitors out of our system) to virtual private networks (which lets you create a secure connection on a public network) to keep your financial data safe and secure. All combined, that means your financial data (and your children’s) is always safe and secure with Greenlight.