GREATER DATA ACCESS & COMBINATION

Many banks desire to consolidate data lakes into one or several centralised locations to enable real time consolidated data analytics on a real-time, selectively controlled basis.

The problem is that traditional data protection technologies are one-directional, requiring that all data and all use cases be presented at the time that data protection is applied. The introduction of new use cases or addition of more data nullifies the data protection. In contrast, BigPrivacy supports multi-directional data protection by leveraging Variant Twin data that is specifically processed for the person, purpose, place associated with each authorised data use in real-time.

Other data protection technologies do not support dynamic pseudonymisation, something that BigPrivacy uniquely enables. As a result, BigPrivacy provides firms with an API to dynamically pseudonymise data enabling them them to selectively control real-time data analytics across the consolidated data lake.

COMPLIANT CLOUD PROCESSING

The GDPR requires that data controllers contract only with cloud service providers (and other processors) that provide “sufficient guarantees to implement appropriate technical and organizational measures in such a manner that processing will meet the requirements of this regulation and ensure the protection of the rights of the data subject.” To support GDPR compliant cloud processing, BigPrivacy enables dynamic pseudonymization to support:

• Legitimate Interests as a legal basis for analytics and artificial intelligence not supported by “consent” or “contract”; and
• Data Protection by Design and by Default as a means to ensure that processing protects the rights of data subjects.

EXTERNAL DATA ASSETS

Regulated firms can leverage BigPrivacy Variant Twin data to enable sharing of non-identifying versions of original datasets with strategic enterprise partners. BigPrivacy establishes a common Variant Twin format to support sharing of harmonised Variant Twin data schemas among disparate data sets. Firms would otherwise be forced to cease inter-enterprise data analytics projects because other approaches rely on static identifiers which under the circumstances would no longer be permitted under the GDPR.

The ability to separate the information value of data from the means of re-identifying data subjects (to satisfy GDPR requirements for pseudonymisation) while enabling controlled re-linkability of data under authorised conditions is critical to achieving business objectives; these capabilities are uniquely possible using BigPrivacy’s patented dynamic pseudonymisation technology.

GLOBAL DATA USE & SHARING 

Some of the largest financial firms in Europe recognise that – unlike any other technology – BigPrivacy enforces data access and use controls at the fine-grained data element level as well as at a course-grained policy level enabling them to maximise the use and value of their data while maintaining jurisdictional data sovereignty and localization compliance. This is critical since they do business in many countries around the globe. They have petabytes of data that could not be integrated and managed for analytics and AI without BigPrivacy non-identifying Variant Twin data to support new, non-consent-based legal basis for processing EU personal data under the GDPR.

Banks are also able to transfer maximum data to the cloud due to the portability of non-identifying BigPrivacy Variant Twin data among processing locations enabling cloud providers to more fully leverage cloud scalability, load balancing, etc.