If you are still looking for a General Data Protection Regulation (GDPR) compliance solution, London based regtech Pontus Vision may be able to help you with its open source, secure software that allows firms to search for any given customer and quickly access all of the data the business holds about them in a single consolidated view, without changing underlying systems.
Pontus Vision started up in London in 2011 with a focus on low-latency front office applications. With support from an innovation lab it sold solutions to a number of financial institutions and was asked by UK government to support an open source big data project. This morphed into a wider government remit using similar architecture for a performance tool.
Based on this architecture, the company has developed a commercial open source GDPR solution that uses Apache software and includes GCHQ level security. Financial firms can use the solution to streamline and automate data management processes without changing underlying systems or procedures.
Leonardo Martins, founder of Pontus Vision, says: “We have designed Pontus Vision GDPR to enable financial services firms challenged with historical data management issues to quickly and efficiently meet GDPR requirements.”
He describes the GDPR solution as having three steps, extract, track and comply. Extract requires liaison with IT teams to tap into various data sources; track includes data storage and is based on a Janusgraph database that enables powerful and fast queries to see, for example, if a person has given consent to the use of particular data; comply uses a scoring mechanism to assess a firm’s compliance against each of the 12 steps in the Information Commissioner’s Office’s guide to GDPR. A weighted average across all 12 scores allows a data protection officer to see on one page how compliant the firm is, while the graph database can, for example, provide detail on which machines and tools are impacted by a data breach.
As a small company, Pontus Vision is working with partners to deliver its GDPR solution to market. The business model allows the GDPR software to be downloaded at no charge with users paying a yearly support and consultancy fee.