SAN FRANCISCO- TrueVault, the first data security company completely focused on protecting Personally Identifiable Information (PII), announced today the launch of its expanded platform to cover all PII-related regulations such as HIPAA, GDPR, and the California Consumer Privacy Act as well as additional use cases including Applications, Data Warehouses and Machine Learning.
Traditionally, TrueVault had focused on helping companies protect consumers health-related data, ensuring HIPAA compliance. But its customers began asking for help with new regulations related to PII, such as GDPR. TrueVault already had the know-how and platform, and decided to extend its capabilities from health applications and data into all applications and data warehouses storing PII.
Companies need consumers personal data to operate, but as recent worldwide security breaches have shown, storing that data is a liability “ like a ticking time bomb, said Jason Wang, founder and CEO of TrueVault. TrueVault helps remove that risk by anonymizing personal data and storing it securely offsite for clients.
We have been using TrueVault for HIPAA compliance for several years, and its become a core part of our data security strategy, said Andrew Wood, Chief Technology Officer at GlucoseZone. With this platform expansion, we can now count on TrueVault for additional regulatory requirements such as GDPR and for additional data use cases.
There is a growing realization that businesses are collecting too much personal information from consumers unnecessarily, and anytime a company is storing PII, it is at risk. TrueVault acts as a data escrow, eliminating that risk and taking on 100 percent of the liability.
How it works:
• TrueVault decouples consumer identity from consumer behavior data - because most companies dont really need the former in order to operate
• TrueVault stores the tokenized identity data in a secure online vault specifically designed to protect PII
• Companies then import only the de-identified (anonymized) data they need -- without any compliance and security liabilities
Any data thats not being actively used can be securely stored in TrueVault, which can secure application data, data warehouses, and the large Machine Learning/AI data sets commonly used to train AI systems.