Summary:
This Israeli company produces software that provides a holistic solution in the field of data protection. A patented algorithm encrypts the sensitive information so that it cannot be read and can only be viewed by authorized users with unique decentralized keys.
The company's adaptable and easily integrated solution can work in any sector or industry to provide businesses with increased levels of GDPR compliance.
The company is looking for partners under a commercial agency agreement.
Description:
The increasing adoption of digitalization and globalization of enterprises have made IT resources prone to cyber-attacks. Every day there are news reports about sensitive data having been leaked or hacked from leading companies, causing massive financial losses and irreparable damage. Data breaches are inevitable, while the sources are not only criminal attacks, but also human errors, inside jobs, or system glitches.
This Israeli company, that produces software that provides a holistic solution in the field of data protection, has developed a product solution that is highly advanced, yet simple, effective, cost-efficient, and adaptable to any company’s own IT system, offering a user-friendly experience. Unlike other data encryption and cybersecurity solutions, the device they created provides protection on a deeper level: data is real-time encrypted by a highly advanced algorithm, protected by different decentralized keys, which are impossible to decrypt, with a master key held in escrow according to each customer’s choice. This means, that in case of a data breach – external or internal, caused by systematic malicious activity or by human error – the obtained data is useless and the biggest damage to any company of having data irreversibly exposed, will be avoided.
As enterprises are typically employing TDE (Transparent Data Encryption) to encrypt “data at rest”, both on hard drives and backups, data at rest is not protected in transit or whilst in use. By using this device, an encryption/decryption layer is added to any application with specialization for SAAS web application, and the data is never saved in clear, whilst being encrypted/decrypted in real-time.
This device's expertise is in handling sensitive data and having to fulfill increasingly high regulatory and compliance requirements (GDPR) as well as challenging bank secrecy and data protection laws. With this product, the client’s data never leaves the secure environment of the company, but the solution is implemented in the existing infrastructure and database. Unlike major competitors, there is no need to implement hardware and the adaptive pricing model is tailor-made to any scale of business and individual needs of each customer. The growing cost for IT experts can be kept low, whilst using the professional expertise of the company’s monitoring and support team. All in all, this is a holistic and robust solution to protect sensitive data of any financial, health, or governmental institution and service provider.
The company is well familiar with the global market and is looking for partners under a commercial agency agreement.
Type (e.g. company, R&D institution…), field of industry and Role of Partner Sought:
The company has expertise in producing software that provides holistic solutions in the field of sensitive data protection.
The company is well familiar with the global market and is looking for reliable partners, that have a strong base of clients within the financial ecosystem, under a commercial agency agreement or direct marketing to the customer.
Potential partners could be financial organizations such as banks, insurance companies, credit companies, financial trading companies, and clearinghouses.
Stage of Development:
Available for demonstration
IPR Status:
Patent(s) applied for but not yet granted
External code:
BOIL20201109001
