Until now, companies and organisations have encrypted data to transfer and store it safely. But so far, it has not been possible to data process encrypted data without decrypting it first. This is now changing with PII Guard’s unique encryption products.
Data is the new gold. This has been a dominating mantra since big data became a reality among all fast-growing companies. But the path of virtue has proven to be particularly narrow for companies when it comes to effectively processing data while complying with GDPR legislation surrounding sensitive personal information.
I used to say that data processing and privacy are like water and oil – It is tricky to combine. But with our encryption technology, we have established a method for mixing these liquids, so companies can protect sensitive personal data while effectively processing data,” says Martin Staal Boesgaard, Founder and CEO at PII Guard.
Boesgaard founded PII Guard to solve some of the challenges he experienced in his job working with safety, encryption, and privacy for more than 20 years. He had experienced repeatedly how security- and privacy requirements made it difficult to work with production data, and how restrictions and rigid processes have delayed and raised costs to projects significantly.
If data is gold, it should not be in a safety box
The financial world rapidly saw the potential in the solution. PII Guard’s customers include banks, insurance companies, and public institutions. Despite Covid-19, PII Guard has had an excellent 2020, reaching its sales targets for the whole year before the summer holidays.
“The sale of licenses has exceeded our expectations. I think this is because our solution is unique and because we solve an actual problem for the companies, which utilise our solution to comply with GDPR while processing data. Several say that data is the new gold, but it’s not worth much if it’s hidden in a safety box,” Boesgaard states.
Our solution is the key to open up the box. When data is protected with our format-preserving encryption technology, fewer restrictions follow, and you typically do not have to ask the security department for permission before using encrypted data. At the same time, our technology enables you to work on encrypted data in the same way you would otherwise work,” says Boesgaard.
“One can imagine, for example, an employee of a pension company, who wants to investigate whether there is a correlation between low risk of burglary and dog ownership. With our products, there is much shorter from idea to actual figures that can confirm or deny the idea,” Boesgaard explains and goes on to say:
“Our customers find that their data becomes far more valuable when more employees can access it. But security- and privacy requirements have so far prevented this access. Our mission is to democratise data without compromising security – to set data free.”