Open PGP is the preferred standard for most banks and financial institutions when transferring sensitive data.
Open PGP is a form of asymmetric encryption where a public key is used to encrypt the file and a corresponding private key is used to decrypt the file. Several encryption algorithms can be utilized within Open PGP, including the Advanced Encryption Standard (AES), to provide a high level of protection. Digital signatures can also be used to sign files to allow the recipient to authenticate the validity of the sender's signature.
"GoAnywhere OpenPGP Studio" can be used as follows for generating public/private key pair, for exporting public keys and for encryption/decryption of sensitive data:
1) Download and install GoAnywhere OpenPGP Studio from http://www.goanywheremft.com/products/openpgp-studio/download
2) Recipient creates new private/public key pair
- Download and install "GoAnywhere OpenPGP Studio".
- choose "OpenPGP Keys" tab
- click "Create" button to generate new key
- enter the required information and click the create button
3) Recipient exports public key
- choose "OpenPGP Keys" tab
- select the key you want to export
- click "Export Public Key(s)"
- choose location where to store the public key
4) Recipient sends the exported key to a person from whom you would like to receive encrypted emails
5) Sender encrypts file
- choose "OpenPGP Tasks" tab
- navigate to the file you want to encrypt and mark it
- click the "Encrypt" button
- choose the key with which you want to encrypt and specify the location where to store the encrypted file
- click the "Ok" button
6) Sender sends the encrypted file per email
7) Recipient decrypts the encrypted file
- choose "OpenPGP Tasks" tab
- navigate to the file you want to decrypt and mark it
- click the "Decrypt & Verify" button
- choose a location where to store the encrypted file