Maximize privacy and utility of datasets across multiple environments, with state-of-the-art data de-identification techniques: Privitar

What is the best way of managing access to sensitive data? This is not a straightforward question as it involves ethical, legal and technical issues to be tackled. This guide will help you on your way to preserve your sensitive data safely. It explains the different types of sensitive data, how to prepare them for storage and the possible cost involved in the process. Sensitive data is data that must be protected against unwanted disclosure. Access to sensitive data should be safeguarded. Protection of sensitive data may be required for legal or ethical reasons, for issues pertaining to personal privacy, or for proprietary considerations. Organizations worldwide rely on Privitar to realize the promise of one of their most valuable assets – safe, usable data. Privitar empowers organizations to use sensitive data to gain valuable insights, and to support data-driven decisions. By delivering comprehensive data privacy techniques and streamlining data provisioning, Privitar enables enterprises to extract the maximum value from the data they collect, manage and use, while minimizing risk. To date, Privitar has raised more than $150 million in funding, led by Warburg Pincus, Accel, Partech, IQ Capital, Salesforce Ventures, ABN AMRO Ventures and HSBC. The company’s international customer base includes Global 2000 banking, healthcare, insurance, life sciences, professional services, retail and telecommunications companies like HSBC, Citi, the UK’s National Health Service and AstraZeneca. Privitar was founded in 2014, and is headquartered in London, with regional headquarters in Boston and Singapore, a development center in Warsaw, and sales and services locations throughout the US and Europe.

Anti-Money Laundering

Banks worldwide spend more than $8 billion annually on Anti-Money Laundering (AML) activities and the market is predicted to have a Compound Annual Growth Rate of almost 20% through 2024. Unfortunately, criminals are also accelerating their activity, exploiting increased volume and breadth of transactions across financial institutions. Only by maximizing efficiency and sophistication in examining suspicious transactions can enterprises stay ahead. Security alone is no longer enough to ensure that competing demands of AML/anti-fraud, privacy regulations, corporate policies and brand value are all being achieved. Privitar supports the demanding requirements of AML/anti-fraud analyses and investigations while respecting customer privacy. Financial regulations require banks to Know Your Customer, to understand the relationships between transacting parties and to be able to match against watch lists. Yet, increasing privacy regulations, including GDPR and CCPA, require even tighter control of personal customer data, which affects how organizations can safely use data in anti-money laundering or anti-fraud processes. Anti-money laundering analysts and automation tools must make extensive use of sensitive customer data. Traditional security measures to protect data at rest and in transit are commonplace yet insufficient. Data must also be protected in use. And organizations must implement defensive measures in anticipation of the inevitable breach.

Maintain Data Utility while Protecting Sensitive Data

• Privacy protection of sensitive customer information
• Controlled linkability of datasets
• Separation of authority for managing data privacy policies
• Centralized control for systematically enforcing policies and procedures
• Dataset tracking during all steps of the AML process

With the Privitar Data Privacy Platform, enterprises can maximize their data usage in accordance with increasing regulations while also leveraging automation that allows them to simultaneously improve AML efficiency and output. Adding Privitar to an organization’s anti money laundering and Anti-Fraud procedures will provide a scalable, holistic approach to data privacy

Data Privacy Compliance

Over 100 countries have data protection and privacy legislation in place today. These laws are evolving via interpretation, guidance and amendments. Around 20 more countries have new laws in draft form. In the absence of federal regulations, US states are taking matters into their own hands. Many are mirroring CCPA, but many are deviating. Most regulations on the books have defined monetary penalties. But proposed legislation keeps upping the ante by granting regulators increased authority to investigate suspected violations and breaches, and issue ever higher fines. If it were about only data privacy compliance, achieving the objective might seem straightforward. But the purpose of collecting and managing customer data is to use it to gain valuable insights that support data driven decisions to fuel the business. The Privitar Data Privacy Platform enables today’s data leaders to safely use data within the constraints of regulations.

Meet the leader behind the success of Privitar

As Chief Executive Officer and Co-Founder, Jason du Preez is responsible for Privitar’s vision, strategy, culture and funding. He is passionate about the benefits of data to society and Privitar’s vision of building a centre of excellence around privacy engineering products. He is a serial entrepreneur who brings proven start-up and enterprise software experience to the business. Prior to founding Privitar he held global leadership roles across technology and data management at Thomson Reuters. Before that he co-founded and led the growth of data management Software Company, m35, up to a successful exit through sale to Thomson.

“Privitar is dedicated to helping organizations realize the promise of their most valuable asset – safe, usable data – to empower them to create better products, services and customer experiences.”