According to Gary Palgon, the firm's vice president, the launch of the service has been driven by the cost of storing data in the cloud, and the fact that it frees the organisation using the service from worrying about regulatory compliance.
Known as Protected TaaS, the data is stored in a compliant cloud service provided by Verizon Business, which he told Infosecurity, has full cloud service centres already operating at two US sites and in Hong Kong.
Plans also call for complete cloud centres to come onstream in Amsterdam and London later this year, meaning that those clients who are required to store their data wholly within the European Union can have this facility.
Interestingly, Palgon says that the TaaS facility does not require approval under the PCI DSS rules, meaning that those companies that process card transactions can outsource elements of their service to the cloud without requiring NuBridges to be PCI compliant.
This doesn't mean that NuBridges or Verizon doesn't take certification seriously, however, as Palgon says both companies offer a range of certifications to potential clients.
Because of the removal of the need for PCI DSS compliance with the tokenisation business, the NuBridges vice president said that TaaS reduces the scope of regulation needed for organisations, as well as offering lower costs – and without any vendor lock-in.
Also unusual for a cloud service is the fact that NuBridges does not have any lock-in on customers. If the company want their data 'back' and move over to another cloud provider, Palgon said that clients can simply download all of their data and hand it on to another vendor.
"You can save your data. It's yours to do as you wish with. This is very important if, for example, the data includes electronic health records, since that data has to be stored in some shape or form for a long time", he said.