About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Privatar Plays into GDPR and plans Product and Geographic Expansion

Subscribe to our newsletter

Privitar plans to invest the $16 million it raised in a recent funding round in accelerating development of existing and new data privacy products, and extending its geographic footprint from Europe to the US and Asia-Pacific. The company was founded in 2014 and is now well placed to help data-driven organisations address data privacy concerns – including the damages of compromising privacy – and comply with legislation such as General Data Protection Regulation (GDPR).

Jason du Preez, CEO at Privitar, says: “Data privacy can no longer be managed by dispensation, as use of dispensations can’t scale to support growth in the amount of personal data that is generated and collected by organisations. Technology is needed, not only to ensure data privacy and customer trust, but also to enable organisations to get the most out of sensitive data without compromising privacy and security.”

The company offers two software solutions and plans to use some of the investment money to strengthen these and add additional solutions to its portfolio. The focus on Privitar Publisher, which creates an anonymised copy of data so that individuals in a dataset cannot be identified, although the data can still be used for analytics, machine learning and sharing with trusted parties, is on the data anonymization element of the product. The differential privacy capabilities of Privitar Lens, which provides an application programming interface (API) to allow sensitive data to be queried without direct access to the data and without disclosure of any individual identities, will also be developed. Du Preez suggests additional products designed to produce a set of coherent capabilities for any data privacy problem will begin to enter the market within 12 months.

Privitar has 11 customers across Europe, the majority being financial services firms within the scope of GDPR, and intends to use another slice of the investment money to extend its reach into US and Asia-Pacific markets, where it is talking to prospects.

The timing and extent of an additional round of funding, led by Partech Ventures with participation from CME Ventures, Salesforce Ventures and existing investors IQ Capital, 24Haymarket and Illuminate Financial, could not be better for Privitar. As du Preez comments: “Organisations have been in the early stages of data privacy discovery over the pasts 12 months, but they are now changing gear and moving to delivery and execution. Data privacy is a top 10 item on the board agenda – it wasn’t six months ago.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to automate entity data management and due diligence to ensure efficiency, accuracy and compliance

Requesting, gathering, analysing and monitoring customer, vendor and partner entity data is time consuming, and often a tedious manual process. This can slow down customer relationships and expose financial institutions to risk from inaccurate, incomplete or outdated data – but there are solutions to these problems. This webinar will consider the challenges of sourcing and...

BLOG

Bloomberg Releases GenAI-Powered Earnings Call Summaries

Bloomberg has released AI-Powered Earnings Call Summaries, the company’s first generative AI (GenAI) product for terminal users. The tool enables users to decipher complex financial information and quickly extract key insights on topics addressed by corporate management teams, such as guidance, capital allocation, hiring and labour plans, the macro environment, new products, supply chain issues,...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...