New Data Privacy and Clean Room Solution Creates Growth Opportunities through Monetizing Highly Regulated Data, Available Now through AFIN’s API Exchange Marketplace; Names Alvin Tan, Director of Business Development APAC
KANSAS CITY, MO., Jan. 20, 2021 – TripleBlind, creator of a rapid, efficient and cost effective data privacy and clean room solution based on breakthroughs in advanced mathematics, announced today its solution is now available for enterprises operating throughout much of South Asia and Australia. TripleBlind enables enterprises to enforce the most current data privacy standards, such as Singapore’s Personal Data Protection Act (PDPA) and is initially available through the ASEAN Financial Innovation Network (AFIN) API Exchange (APIX) Marketplace.
“ASEAN economies are projected to double GDP between now and 2030, reaching $4 trillion, with 140 million new consumers and representing 16% of the world’s consumers,” said Riddhiman Das, co-founder and CEO of TripleBlind. “We see an outstanding opportunity to work with enterprises to leverage and monetize the regulated data they possess to take advantage of the opportunities this growth creates.”
TripleBlind Commits to APAC
Asia Pacific-based enterprises have recognized the possibilities of growing their business by leveraging all available data while working to comply with the increasingly complex and rigorous data protection and cybersecurity compliance required by different countries. The unique nature of TripleBlind’s technology platform allows organizations to stay compliant with PDPA, General Data Protection Regulation (GDPR) and other regional data residency regulations.
Alvin Tan: Director of Business Development APAC
Additionally, to drive TripleBlind’s expansion into the Asia-Pacific region, the company has brought in Alvin Tan as director of business development, APAC. Alvin has nearly a decade experience developing, executing and managing sales and business strategy in Asia, Australia and the U.S.
“Total worldwide data is expected to swell to 163ZB by 2025; the sheer volume of untapped data in the Asia-Pacific market has the power to create unprecedented growth opportunities for businesses around the world,” said Tan. “TripleBlind’s next-generation cryptographic, efficient and scalable data privacy and virtual clean room solution allows Asia-Pacific financial institutions to stay compliant with different regulatory standards by preserving privacy and security of raw data.”
Collaboration with AFIN’s APIX Marketplace
TripleBlind will initially be available through the APIX Marketplace, a global cloud-based platform that enables financial institutions and fintech companies to discover one another on a curated global marketplace, design experiments collaboratively and deploy innovative solutions quickly at a lower cost. It also includes the APIX Global Fintech Marketplace where a member can ideate on business problems and search for pre-built solutions.
How TripleBlind Works
IBM estimates that enterprises are unwilling to share 93% of their data with other companies for collaboration purposes due to government regulation and privacy concerns. TripleBlind turns this “dark data” into a valuable revenue source without introducing risk or liability, enabling novel AI/ML/analytics applications. TripleBlind allows enterprises to collaborate and gain new insights from regulated and private data, without decrypting it.
TripleBlind’s next-generation cryptographic, efficient and scalable data privacy and data clean room solution replaces the three most common workarounds to this problem today: complex legal contracts that stifle collaboration, data anonymization and identification solutions, and other technologies such as homomorphic encryption, differential privacy and secure enclaves.
Potential Market Benefits
TripleBlind’s rapid, efficient and cost effective data privacy and data clean room solution unlocks new opportunities in a wide range of applications, such as:
Competitive financial institutions can collaborate for mutual benefits such as developing better anti-money laundering and privately use each other’s data to achieve an overall reduction in fraud and attain higher levels of compliance,
Remote hospitals can now get sophisticated diagnostic algorithms safely as well as more easily enforce compliance with local and regional privacy standards,
Operators of complex equipment, such as airlines, can predict the useful life of complex systems, such as engines and tap into data previously unavailable, such as that of supply chain parts suppliers, to improve predictive analysis.
TripleBlind’s patented breakthroughs in advanced mathematics arm organizations with the ability to share, leverage and monetize regulated data, such as PII and PHI, and mission-critical enterprise data, such as tax returns and banking transactions. It unlocks the estimated 105 petabytes of data stored by enterprises today that are inaccessible and unmonetized due to privacy concerns and regulations. With TripleBlind, decision makers generate new revenue for their organizations by gaining deeper insights faster, creating improved modeling and analysis, and collaborating more effectively with customers and partners and even competitors, while enabling enterprises to enforce today’s regulatory standards, such as HIPAA, GDPR and PDPA.
https://www.barnettstrategies.com/wp-content/uploads/2017/10/BarnettStrategies_logo-1.png00AJ Sebillahttps://www.barnettstrategies.com/wp-content/uploads/2017/10/BarnettStrategies_logo-1.pngAJ Sebilla2021-08-26 15:35:372021-08-26 15:35:37TripleBlind Expands into Asia Pacific to Accelerate Data Collaboration Opportunities among Enterprises
KANSAS CITY, Mo., Dec. 15, 2020 (GLOBE NEWSWIRE) — TripleBlind announced today it is collaborating with Mayo Clinic researchers who will use TripleBlind tools to validate interoperability of encrypted algorithms on encrypted data and the training of new algorithms on encrypted data.
TripleBlind has created a rapid, efficient and cost effective data privacy focused solution based on breakthroughs in advanced mathematics, which will be used and validated by the Mayo team. No Mayo data will be accessed by TripleBlind.
Today, health care systems have to either transfer data or algorithms outside their institution for experts to train or conduct research. The encryption conduit being evaluated will eliminate the need for data transfer or for sharing the algorithm, thus protecting intellectual property. TripleBlind’s solution functions as the innovative data encryption conduit that keeps the data and intellectual property in the algorithm secure.
“We hope to demonstrate the potential of applying TripleBlind’s data privacy and data clean room solution to accelerate how we develop, test, and deploy AI solutions in healthcare, particularly amidst heavily regulated privacy concerns,” said Riddhiman Das, co-founder and CEO of TripleBlind. “We are eager to work together with Mayo Clinic to explore TripleBlind’s encryption tools and showcase real-world applications.”
The goal of this collaboration is also to demonstrate that TripleBlind’s toolset can be applied to train entirely new algorithms from independent entities anywhere in the world without the need to share raw data, thus preserving privacy and security while meeting regulatory standards.
“Training novel algorithms on encrypted data sets and facilitating trust between independent parties is critical to the future of AI in medicine. By using advanced mathematical encryption technologies, we will greatly enhance scientific collaboration between groups and allow for more rapid development and scalable implementation of AI-driven tools to advance healthcare,” said Suraj Kapa, M.D., a practicing cardiologist and director of AI for knowledge management and delivery at Mayo Clinic.
Mayo Clinic and Dr. Kapa have financial interest in the technology referenced in this release. Mayo Clinic will use any revenue it receives to support its not-for-profit mission in patient care, education and research.
TripleBlind’s patented breakthroughs in advanced mathematics arm organizations with the ability to share, leverage and monetize regulated data, such as PII and PHI, and mission-critical enterprise data, such as tax returns and banking transactions. It unlocks the estimated 105 petabytes of data stored by enterprises today that are inaccessible and unmonetized due to privacy concerns and regulations. With TripleBlind, decision makers generate new revenue for their organizations by gaining deeper insights faster, creating improved modeling and analysis, and collaborating more effectively with customers and partners and even competitors, without compromising safety.
https://www.barnettstrategies.com/wp-content/uploads/2017/10/BarnettStrategies_logo-1.png00AJ Sebillahttps://www.barnettstrategies.com/wp-content/uploads/2017/10/BarnettStrategies_logo-1.pngAJ Sebilla2021-08-26 15:30:122021-08-26 15:30:12TripleBlind Collaborates with Mayo Clinic on Next Generation Algorithm Sharing and Training on Encrypted Data
Startup joins Accenture Ventures’ Project Spotlight program to accelerate go-to-market strategy
NEW YORK; Nov. 18, 2020 – Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in TripleBlind, a data privacy and virtual clean room solution provider.
Sharing and extracting insights from sensitive data, such as patient records or tax returns can help accelerate cures for diseases or reduce financial crimes, yet, concerns around data privacy and governments regulations have prevented many companies from identifying these insights to date. TripleBlind helps enterprises share sensitive information with their stakeholders more effectively – without ever decrypting the data, helping them comply with regulatory requirements.
“Organizations can yield valuable insights and unlock trapped value by combining and collaborating around large volumes and different types of data, but in order to do this they need to trust that the privacy of that data is protected,” said Shail Jain, global lead for Data & AI Group for Accenture Technology. “We believe that TripleBlind not only has the capabilities to facilitate collaborative data exchanges, but to also give organizations confidence that data privacy remains intact.”
TripleBlind is now part of Accenture Ventures’ Project Spotlight, a deeply immersive engagement and investment program that targets emerging technology software startups to help the Global 2000 embrace the power of change and fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s deep domain expertise and its enterprise clients, to help startups harness human creativity and deliver on the promise of their technology. Through the program, TripleBlind will co-innovate with Accenture at its Innovation Hubs, Labs and Liquid Studios, working with subject matter experts to bring its solutions to market more quickly and more effectively.
“The global market for big data and business analytics is projected to reach more than $500 billion by 2026. As that market grows, the pressure within enterprises to share data to uncover new revenue opportunities and gain competitive advantage will grow as well,” said Riddhiman Das, co-founder and CEO of TripleBlind. “TripleBlind’s next-generation cryptographic, efficient and scalable data privacy and virtual clean room solution can replace ineffective workarounds like complex legal contracts, data anonymization or deidentification, and other technologies such as homomorphic encryption, while helping to avoid regulatory statutes and data residency violations. Accenture Ventures’ investment and our participation in its Project Spotlight program will advance and accelerate our ability to help enterprises harness the potential of sensitive data.”
Tom Lounibos, managing director, Accenture Ventures, added, “Our investment in TripleBlind demonstrates Accenture Ventures’ commitment to cultivating the latest technologies, enhanced by human ingenuity, that solve for our clients’ most critical business needs. We believe that TripleBlind offers our clients a key to enhancing data privacy while ensuring regulatory compliance – a major challenge in today’s environment.”
TripleBlind is the latest addition to the investment portfolio of Accenture Ventures, which is focused on investing in companies that create or apply disruptive enterprise technologies.
Terms of the investment were not disclosed.
TripleBlind was founded in 2019 and is headquartered in Kansas City. It’s new data privacy and virtual clean room solution enables enterprises to leverage regulated data, such as PII and PHI, and enterprise-sensitive data without violating GDPR, HIPAA, the California Consumer Privacy Act (CCPA), data residency and other standards. For more information, please visit tripleblind.ai.
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services—all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
https://www.barnettstrategies.com/wp-content/uploads/2017/10/BarnettStrategies_logo-1.png00AJ Sebillahttps://www.barnettstrategies.com/wp-content/uploads/2017/10/BarnettStrategies_logo-1.pngAJ Sebilla2021-08-26 14:30:152021-08-26 14:30:15Accenture Makes Strategic Investment in TripleBlind to Bolster Data Privacy and Increase Data Collaboration Opportunities