TrueVault announced 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.
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 it’s become a core part of our data security strategy,” said Andrew Wood, CTO 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 realization that businesses are collecting 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 don’t really need the former in order to operate,
- TrueVault stores the tokenized identity data in a secure online vault designed to protect PII,
- Companies then import only the de-identified (anonymized) data they need — without any compliance and security liabilities.
Any data that’s not being used can be stored in TrueVault, which can secure application data, data warehouses, and the large Machine Learning/AI data sets used to train AI systems.