How to use PGP Encryption for the data transfer between each other?

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How to use PGP Encryption for the data transfer between each other?

Bank generates a pair of keys containing one secure key and one public key.

Public key will be distributed to all user groups so that they can encrypt the data before it is submitted to Bank. In the same way users also share their public key with Bank so that this key can be used to encrypt the data before sending to the users.

Both the parties exchange data in two major processes, i.e. Data submission and Bulk inquiry processes.

In case of data submission process, users submit the data to Bank on monthly basis

in the form of encrypted XML files by uploading the onto the ftp site.

Bank provides the status of data submission along with list of rejected records with comments in a non-encrypted flat file by uploading back onto the ftp site. Status files do not contain any confidential information.
In case of data bulk inquiry process, user submits enquiries in bulk in an encrypted flat file by uploading onto the ftp site. Bank processes enquiries and uploads credit information reports in encrypted flat file back onto the ftp site.
Users need to inform Bank and update their new public key if any changes happen to user key pair. All public keys of all users will be stored in Secure Key Repository at Bank.
Users can procure PGP software from Symantec.

PGP desktop version allows users to encrypt and decrypt files in manual way.

PGP Command line software automates this entire process.


Customers need to use this encryption key to encrypt data submission files before they upload onto the FTP site.