Riddhiman Das to Participate in MIT Media Lab Panel on Health Data Privacy Press Release

TripleBlind’s Riddhiman Das to Participate in MIT Media Lab Panel on Health Data Privacy and Data Protection as an Enabler of Innovation

WHO:

Riddhiman Das, Chief Executive Officer, TripleBlind, Mary Nunn, International Privacy Coordinator, Doctors without Borders, Shikha Jain, Asst. professor of Medicine and the Director of Communication Strategies in Medicine at the University of Illinois College of Medicine, Ramesh Raskar, Assoc. Prof at MIT Media Lab, James Smalls, Senior Interaction Designer, IDEO.

WHAT:

On March 11, Riddhiman Das will discuss data privacy and data protection principles by sharing best practices to develop the future of innovative, inclusive and transparent digital health solutions. 

This event is Part 1 of the Institute’s “Healthcare: The Digital Revolution for More Resilient Societies” series.

WHY:

Governments, NGOs, and private entities are playing distinct roles in the digitization of the healthcare sector. Privacy by design in digital health transformation and execution should be adopted as a guiding principle. The goal of this event is to provide leaders in the field with insights from data privacy and data protection experts operating in relevant fields.

WHEN:

Thursday, March 11, 2021
Health Data Privacy and Data Protection as an Enabler of Innovation
MIT Media Lab Events
11:30 am – 1:00 pm (CT)

WHERE:

Participants can register here.

About TripleBlind

Vast amounts of data stored by enterprises today are inaccessible and unmonetized due to privacy concerns and regulations. 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. TripleBlind’s next-generation cryptographic, efficient and scalable privacy and data clean room replaces ineffective workarounds: complex legal contracts, data anonymization/ deidentification, and other technologies such as homomorphic encryption, without violating GDPR, HIPAA, the California Consumer Privacy Act (CCPA) and other privacy regulations. Decision makers generate new revenue for their organizations by gaining new and deeper insights faster, creating improved modeling and analysis with better data, and collaborating more effectively with customers, partners and even competitors for mutual benefit. For more information, visit www.tripleblind.ai.

 

Contact

Victoria Guimarin
E-mail: tripleblind@upraisepr.com
Phone: +1 510.331.9548

 

TripleBlind Announces $8.2 Million in Seed Funding Press Release

TripleBlind Secures $8.2 Million in Seed Funding, Investor Group Reflects Strong Support for Breakthrough Data Privacy Approach

All Prior Investors Exercise Pro-rata Rights, Highlights Fintech and Healthcare Industries’ Need for Private Data Sharing and Collaboration

TripleBlind Improves AML Initiatives, Accelerates Creation of Accurate Diagnoses, Generates New Revenue Opportunities

Dolby Family Ventures’ Andrew Krowne Joins TripleBlind Board

KANSAS CITY, MO., March 1, 2021TripleBlind, creator of a new rapid, efficient and cost-effective data privacy and API-driven virtual exchange solution, announced today it has closed $8.2 million in seed financing led by Dolby Family Ventures with strategic investment from Okta Ventures, NextGen Venture Partners, Operator Partners, Wavemaker Three-Sixty Health, AVG Basecamp Fund, Anorak Ventures, Quiet Capital, Clocktower Technology Ventures, Parity Responsible Technology Fund and Manresa Ventures. Existing investors from the first round, including Accenture Ventures, Flyover Capital and KCRise Fund exercised their pro-rata rights and participated in the round, as did several angel investors. The round was oversubscribed.

Closing a new round after completing a pre-seed round last November, combined with the breadth and profile of investors demonstrates the widespread support for TripleBlind’s new, novel data privacy and API-driven virtual exchange approach:

  • All previous investors exercised their pro-rata rights,
  • Wavemaker Three-Sixty Health and Operator Partners are experienced healthcare industry investors,
  • Clocktower Technology Ventures and NextGen Venture Partners open the banking and financial services markets to TripleBlind.

“Okta is on a mission to securely enable any organization to use any technology. A key part of that is providing transparency into how data is being used. TripleBlind will enable our joint customers in regulated industries to leverage enterprise data that today goes largely untapped due to regulations such as CCPA and GDPR, and without compromising consumers’ privacy,” said Monty Gray, senior vice president, Corporate Development at Okta, Inc. “TripleBlind offers synergies with our existing data privacy investments and we are excited to further our relationship to provide added benefits to our customers.”

Collaboration around highly sensitive data can add tremendous value and groundbreaking innovation to address identity, fraud management, macroeconomic analysis, payments and customer success. However, most businesses are limited in their ability to access or share sensitive data due to privacy concerns and government regulations, such as HIPAA, GDPR and CCPA, as well as data residency requirements in regions such as Southeast Asia. TripleBlind’s patented, automatic de-identification and data privacy solution facilitates more efficient and scalable collaboration than alternatives like homomorphic encryption and secure enclaves. 

“With a portfolio of healthcare and biotech companies, many of which face data exchange issues, Dolby Family Ventures is enthusiastic about TripleBlind’s approach that creates and enables a more fluid data sharing process,” said Andrew Krowne, Managing Director. “We appreciate companies that build on strong, novel technical solutions and are thrilled to support TripleBlind’s potential impact across healthcare, financial services and other industries where exchange of sensitive data needs to happen.”

How TripleBlind Works 

TripleBlind encrypts but never decrypts data and algorithms, allowing only approved operations to be executed. Its API-driven virtual exchange ensures compliance for all collaborating parties as they never share raw data. On the other side, data scientists can perform all the operations they ordinarily would without the risk of working with raw data. 

“The return of all previous investors, the breadth of new investors and the oversubscription of the round demonstrate to us that data privacy experts support our new, breakthrough approach for enforcing data privacy while enabling organizations to leverage and gain insights from data,” said Riddhiman Das, co-founder and CEO of TripleBlind. “Thanks to our forward-looking investors, TripleBlind can accelerate our mission to free trapped data so enterprises can collaborate while concurrently enforcing data privacy and regulatory standards. 

Relevant News

Contact us today by emailing contact@tripleblind.ai or visiting https://tripleblind.ai/contact/ to learn how TripleBlind’s efficient and cost-effective data privacy and API-driven virtual exchange solution can help your business. 

 

About TripleBlind

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.

 

Contact

Victoria Guimarin
UPRAISE Marketing + Public Relations for TripleBlind
tripleblind@upraisepr.com
415.397.7600

 

TripleBlind Announces $8.2 Million in Seed Funding

This week we announced the closing of $8.2 million in seed financing led by Dolby Family Ventures with strategic investment from Okta Ventures, NextGen Venture Partners, Operator Partners, Wavemaker Three-Sixty Health, AVG Basecamp Fund, Anorak Ventures, Quiet Capital, Clocktower Technology Ventures, Parity Responsible Technology Fund and Manresa Ventures. Existing investors from the first round, including Accenture Ventures, Flyover Capital and KCRise Fund exercised their pro-rata rights and participated in the round, as did several angel investors. The round was oversubscribed.

This seed round combined with the breadth and profile of investors demonstrates the widespread support for TripleBlind’s new, novel data privacy and API-driven virtual exchange approach:

Okta

“Okta is on a mission to securely enable any organization to use any technology. A key part of that is providing transparency into how data is being used. TripleBlind will enable our joint customers in regulated industries to leverage enterprise data that today goes largely untapped due to regulations such as CCPA and GDPR, and without compromising consumers’ privacy” said Monty Gray, senior vice president, Corporate Development at Okta, Inc. “TripleBlind offers synergies with our existing data privacy investments and we are excited to further our relationship to provide added benefits to our customers.”

Accenture

“Accenture Ventures invested in TripleBlind again based on the positive momentum TripleBlind has experienced and the widespread interest among fintech, healthcare and other enterprises that face data privacy challenges,” said Tom Lounibos, Managing Director of Accenture Ventures. “TripleBlind’s new round of funding so soon after its initial round in November reinforces the demand for TripleBlind data privacy solutions.”

Operator Partners

“Our team understands the challenges U.S. companies face when attempting to collaborate through sharing data in regulated industries such as financial services and healthcare,” said Nat Turner, General Partner at Operator Partners. “We are excited by TripleBlind’s ability to facilitate collaboration and enforce privacy standards within jurisdictions and in hybrid data regulation scenarios.”

Dolby Family Ventures

“With a portfolio of healthcare and biotech companies, many of which face data exchange issues, Dolby Family Ventures is enthusiastic about TripleBlind’s approach that creates and enables a more fluid data sharing process,” said Andrew Krowne, Managing Director. “We appreciate companies that build on strong, novel technical solutions and are thrilled to support TripleBlind’s potential impact across healthcare, financial services and other industries where exchange of sensitive data needs to happen.”

NextGen Venture Partners

“We have recognized the challenges with previous data privacy solutions for a long time and have been seeking out a solution with a new approach in which to invest,” said Ben Bayat, Managing Director of NextGen Venture Partners. “As a former data scientist, I appreciate the significance and uniqueness of the TripleBlind approach that puts  privacy enforcement an easy API call away, without restricting data scientists’ capability to build the right model and utilize the data to its fullest extent.”

Our announcements don’t stop here, we have more in the pipeline so be sure to keep tabs either on our website, Twitter or LinkedIn. If you’d like to learn how TripleBlind’s efficient and cost effective data privacy and clean room solution can help your business, contact us today by emailing info@tripleblind.ai or visiting https://tripleblind.ai/contact/.

Privacy Enables the Adoption of Open Banking

In this blog, we provide a more detailed exposé on the problems facing data-rich banks that are unable to leverage third party data due to regulatory and privacy concerns. It also includes more details about how TripleBlind’s solution works and unlocks new opportunities for banks and financial institutions.

The Current Problem

As countries advance towards Open Banking, or Consumer-Directed Finance, the data economy is simultaneously becoming increasingly regulated, making data privacy compliance a moving target. Strict laws and steep penalties for infractions create headaches for all parties involved in data transactions, while presenting a major hurdle in the transition to Open Banking.

Open Banking is about allowing the consumer to control where their data goes and how it is used by third party financial services (TPPs) providers to develop new products and services, opening up transparency of financial product options and encouraging collaboration between banks and financial technology firms. 

Developing the application programming interfaces (APIs) to make bank data available to consumers, financial institutions, and third-party service providers all in one place while controlled by the consumer, is just one piece of the puzzle. For Open Banking to work, data transactions must be completely private and authorized on a per-use basis.

Banks and financial institutions are hesitant to provide data even to their own partners because the risk of abuse is too high. Even with data owners (the bank or fintech) being equipped with state of the art technology, they do not have the technological means to restrict the usage of the data to legitimate uses only.

Why are Banks Reluctant to Share Data?

The bank sends the partner encrypted data so that nefarious hackers can’t snoop on the data while it’s in transit, but to do anything useful with the data, the partner institution has to decrypt it. This decryption generates a duplicate copy of the data in the raw, in the hands of the partner, which is subject to several vulnerabilities for both sides.

For the recipients/users of the data (the partners of the bank or financial institutions):

  1. Since they’re generating a copy of the data in the raw after decryption, a very stringent IT security solution has to be in place. This is quite expensive to put together. 
  2. Just having the IT security solution is not enough – certifications are also needed from third parties that the data is being handled correctly. This often costs thousands of dollars as well.
  3. Involved parties need to be compliant with all the laws and regulations that come with the data. This means that more costs will be attributed to attorneys and compliance experts.
  4. Strong stringent governance operations will also be required to ensure that it’s safe from their own employees inadvertently seeing data they’re not allowed to and abusing it.
  5. Parties may need the data just for a particular transaction, but there’s no guarantee that the recipient will delete it after it’s been used. This leaves stray data from previous uses in the recipient’s possession and stray data has been hacked in several situations in the past, including Capital One. This leads to a lot of liability issues. 
  6. Sometimes parties have to convince the sender/owner of the data that it’s not going to be abused since they’ll have decrypted data. This requires a lot of trust on both sides – which is risky to do with sensitive, regulated data.

For the senders/owners of the data (the banks or financial institutions):

  1. The default position on any data request is “no.” There’s a lot of business that isn’t happening today because no one believes data can be safely transacted. 
  2. If they choose to do business, they’ll still face big issues:
  1. Parties don’t want to just take their partner’s word that they won’t do evil. It needs to be enforced that they aren’t able to do any evil. 
  2. It’s a big headline risk. By being the victim of a data breach, reputation and trust is shattered. 
  3. There’s financial risk especially with a data breach. The partner will come with huge fines from regulators. 
  4. The partner needs to uphold their commitments to compliance with the appropriate laws and regulations, data security, and the terms of the contract. This is impossible with today’s state of the art technology, and often relies on good faith adherence to the terms of the contract.
  5. No one wants a partner that is a liability, even if the partnership is severed, the private data the partner has received in the past still holds a lot of risk.
  6. Everyone wants to avoid being the bad actor in the receiving institution, but one bad employee is all it takes. Relying on operational procedures and good-faith enforcement is not enough.

Open Banking involves providing data not only to trusted partners, but also to other fintechs and banks that may even be competitors. Because Open Banking involves sharing data with more parties, it poses additional danger to the financial data privacy of consumers, who are already wary of sharing their financial information with anyone other than their bank.

Current Workarounds

  1. Anonymized data is a common workaround to ensure that re-identification of individual customers is impossible to strip away all personally identifiable information from the dataset. The problem with this approach is that the anonymization has to be done manually, and strips away valuable information that can be useful for analysis. This manual process involves several data scientists manually cleaning, masking and hashing every attribute in every table, and can take months for just one dataset. Also, compliance is difficult – it’s been shown that even after manual anonymization, re-identification is still possible.
  2. Synthetic data involves creating a derivative dataset that does not contain any of the real data. However, this involves introducing statistical bias and noise into the dataset, and doesn’t really allow all of the real information to be extracted from the dataset. For example, outliers are often the most interesting from an analytics standpoint, and synthetic datasets can’t accommodate this.

The Solution

TripleBlind provides a Virtual Clean Room where the data can safely be used by the partners without ever exposing it to any of the risks that come with handling raw data. Powered by novel breakthroughs in advanced cryptography and mathematics, TripleBlind ensures that the financial institutions can safely work together with their partners.

TripleBlind Eliminates Decryption

TripleBlind’s Virtual Clean Room ensures that all legitimate operations on the data can be performed safely, while at the same time guaranteeing that no unauthorized operations can be performed on the data. No raw data may ever be taken out of the Virtual Clean Room. The data owner decides what operations are legitimate, and the clean room maintains an audit log of how the receiver used it every time. This Virtual Clean Room only exists for the duration of the usage of the data and vanishes after the transaction, and the real data never leaves the sender’s systems.

TripleBlind reduces the risks on both sides – banks never provide raw data, and yet, there’s no restriction around the legitimate use of the data by partners. The partners can use the data as they usually do without needing to take on the risk of working with the bank’s raw data. The real data is available to be used for the transaction, without requiring anonymization or tokenization.

For the partners, this is beneficial in several ways:

  1. Better service offering because the partners can get access to any data they need, thus building better products and services.
  2. Low liability since the partners never have raw data. They don’t present as a liability to the banks because the banks provide data in a way that only the previously agreed upon operation can be performed on it. So neither party is liable to a data abuse risk.
  3. There’s no restriction on legitimate use. TripleBlind’s novel encryption doesn’t place any restrictions on what can be done to the data with the permission of the data owner. All operations that are normally done on raw data are able to be performed on the encrypted data.
  4. Lower IT security costs  since the receiver doesn’t have to buy expensive IT security tools or go through pricey certifications processes.
  5. More accurate algorithms because they can now access more granular and more diverse data sources. Their algorithms can get more accurate and generalize better to new scenarios.

For the banks, this means:

  1. They can work with more partners to monetize their latent data assets, driving revenue straight to the bottom line.
  2. They don’t take on any additional risk in doing so.
  3. They don’t have to spin up a new data science team to spend months manually anonymizing a single dataset.
  4. They don’t have to go through the compliance, risk and review processes every time they choose to work with a partner.

For the consumer, this means:

  1. They can share their financial data however they want without risk of their data being leaked, stolen, or used for unauthorized purposes.
  2. They can benefit from better financial product and service offerings, catered to their financial needs.

Pricing

Our pricing varies so it’s best to reach out to us to receive a quote. But if you’re still not convinced by our technology, set up a demo and I’m sure we’ll change your mind. Fill out our contact form here.

TripleBlind Announces HIPAA Compliance for Its Cleanroom Solution

This week we announced that our rapid, efficient and cost effective data privacy and clean room solution has entered the $3.8 trillion health care market with the launch of a full suite of HIPAA compliant solutions. 

By eliminating manual anonymization and simplifying the compliance and legal processes around sharing data, healthcare organizations that use TripleBlind solutions can save significant amounts of time, resources and expenses. Additionally, TripleBlind’s patented automatic de-identification technology allows utilization of all the available data about a patient, including data elements that had to be stripped off during anonymization, without the possibility of identifying individuals through reverse engineering.

Riddhiman Das, co-founder and CEO of TripleBlind, said:

“Some of the largest healthcare data breaches of the past five years have single-handedly impacted as many as 80 million people – almost all of those breaches were outright caused by, or made easier, due to decrypted data,” said Riddhiman Das, co-founder and CEO of TripleBlind. “The healthcare industry still has much work to do concerning properly protecting patient data. TripleBlind’s clean room solution removes most of the risk. It is the only solution that enforces HIPAA compliance with every API call and doesn’t just rely on good-faith adherence to BAA.”

TripleBlind encrypts, and never decrypts, data or algorithms, allowing only approved operations to be executed. Its virtual clean room ensures compliance for all collaborating parties as they never share raw patient data. On the other side, data scientists can perform all the operations they ordinarily would without the risk of working with raw data.To learn more about how TripleBlind’s suite of tools enable healthcare providers to safely provide and consume extremely sensitive data and algorithms in an encrypted space, visit the health care page on our website or read the full press release.

TripleBlind Achieves HIPAA Compliance Press Release

TripleBlind Achieves HIPAA Compliance for Its Data Privacy Solution; Healthcare Industry Can Now Safely Utilize PHI Information

Healthcare Industry Players Can Accelerate Innovation and Improve Patient Care While Enforcing Privacy and Regulatory Standards; Healthcare Companies and Institutions Can Save Up to $1.5 Million Per Dataset Per Collaborator

KANSAS CITY, MO., Feb. 3, 2021TripleBlind, creator of a rapid, efficient and cost effective data privacy and clean room solution based on breakthroughs in advanced mathematics, announced today it has entered the $3.8 trillion healthcare market now that it has a full suite of HIPAA compliant solutions. This comes on the heels of its announcement that TripleBlind is collaborating with Mayo Clinic researchers who will use TripleBlind tools to train new algorithms on encrypted data and validate interoperability of encrypted algorithms on encrypted data and the.

By eliminating manual anonymization and simplifying the compliance and legal processes around sharing data, healthcare organizations that use TripleBlind solutions can save significant amounts of time, resources and expense. Additionally, TripleBlind’s patented automatic de-identification technology allows utilization of all the available data about a patient, including data elements that had to be stripped off during anonymization, without the possibility of identifying individuals through reverse engineering.

“Some of the largest healthcare data breaches of the past five years have single-handedly impacted as many as 80 million people – almost all of those breaches were outright caused by, or made easier, due to decrypted data,” said Riddhiman Das, co-founder and CEO of TripleBlind. “The healthcare industry still has much work to do concerning properly protecting patient data. TripleBlind’s clean room solution removes most of the risk. It is the only solution that enforces HIPAA compliance with every API call and doesn’t just rely on good-faith adherence to BAA.”

How TripleBlind For Healthcare Works

TripleBlind encrypts, and never decrypts, data or algorithms, allowing only approved operations to be executed. Its virtual clean room ensures compliance for all collaborating parties as they never share raw patient data. On the other side, data scientists can perform all the operations they ordinarily would without the risk of working with raw data.

By eliminating decryption or the manual steps involved with de-identification, TripleBlind enables:

  • Usage of all data without the risk of re-identification;
  • No exposure of any raw health data, but usage of real data for training, inference and analysis;
  • Generalization of algorithms on varied datasets to reduce bias;
  • Normalization and feature engineering of data without breaking privacy;
  • Full interoperability without any hardware dependencies or moving data outside the firewall.

Healthcare Use Cases

TripleBlind’s rapid, efficient and cost effective data privacy and data clean room solution unlocks new opportunities for the healthcare industry, such as:

  • Healthcare companies and institutions can develop more accurate and less biased novel AI models by utilizing richer, more diverse third-party clinical datasets that are currently difficult or impossible to access, while respecting patient privacy;
  • Healthcare institutions and companies can collaborate around data that’s difficult or impossible to de-identify via other means, like genetic and biometric data;
  • Digital health data platforms can allow partners to run their algorithms on its encrypted data with no chance of counter-party data abuse;
  • Research institutes can create new revenue streams by licensing AI diagnostic algorithms without fear of reverse engineering;
  • Hospitals worldwide can get access to sophisticated AI algorithms as compliance with local and regional privacy standards becomes enforceable via an API;
  • Healthcare organizations can deliver digital medicine globally and more easily enforce compliance with global privacy standards.

 

About TripleBlind

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.

 

Contact

Victoria Guimarin
UPRAISE Marketing + Public Relations for TripleBlind
tripleblind@upraisepr.com
415.397.7600

 

TripleBlind Expands to South Asia and Australia for New Data Collaborations

Earlier this week, we were eager to announce our plans to expand to most of South Asia and Australia. We will enable enterprises to comply with the most current data privacy standards such as Singapore’s Personal Data Protection Act (PDPA) and the various data privacy and residency regulations in Indonesia, Malaysia and the broader SEA region. TripleBlind will initially be available through the ASEAN Financial Innovation Network (AFIN) API Exchange (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. We have also joined the APIX Global Fintech Marketplace where a member can ideate on business problems and search for pre-built solutions. 

Additionally, to drive TripleBlind’s expansion into the Asia-Pacific region, we’re excited to announce that we brought in Alvin Tan as Director of Business Development, APAC. Alvin has nearly a decade of experience developing, executing and managing sales and business strategy in Asia, Australia and the U.S.

“Total worldwide data is expected to swell to 175ZB 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 and healthcare companies to stay compliant with different regulatory standards by preserving privacy and security of raw data.”

We look forward to the future as we extend our technology capabilities to different parts of the world working with different enterprises. We believe the opportunities TripleBlind has unlocked are endless. Just to name a few potential possibilities, we allow the ability for:

  • Fintechs to source data from competitive financial institutions to develop better financial crime detection algorithms.
  • Enabling insurance companies to develop more inclusive underwriting algorithms using the most granular data about a person without violating privacy.
  • Enabling banks to work with fintechs in a completely zero-trust manner, ensuring that the terms of the partnership agreements are provably enforced.
  • Biotech and healthcare AI companies to source richer, more diverse clinical datasets to develop sophisticated AI algorithms while respecting patient privacy.
  • Remote hospitals getting sophisticated diagnostic algorithms safely as well as more easily enforce compliance with local and regional privacy standards.

Our announcements don’t stop here, we have much more in the pipeline so be sure to keep tabs either on our website or Twitter and LinkedIn. In the meantime, if you’d like to learn more about TripleBlind’s offerings for the Asia-Pacific market, contact Alvin Tan at alvin@triplebilnd.ai or on LinkedIn.

We hope you’re having a great start to the new year!

TripleBlind Expands into Asia Pacific Press Release

TripleBlind Expands into Asia Pacific to Accelerate Data Collaboration Opportunities among Enterprises

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, 2021TripleBlind, 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.

To learn more about TripleBlind’s offerings for the Asia-Pacific market, contact Alvin Tan at alvin@triplebilnd.ai or on LinkedIn.

 

About TripleBlind

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.

 

Contact

Victoria Guimarin
UPRAISE Marketing + Public Relations for TripleBlind
tripleblind@upraisepr.com
415.397.7600

 

Mayo Clinic Works with TripleBlind to Streamline Diagnosis Process

We were excited this week to announce a new collaboration between TripleBlind and the Mayo Clinic. Mayo plans to use TripleBlind’s solution to validate interoperability of encrypted algorithms on encrypted data and training of new algorithms on encrypted data. Our solution will enable Mayo and other health care systems to generate insights from highly regulated data without actually accessing the data – ensuring compliance with HIPAA and other standards.

Today, health care systems have to either transfer data or algorithms outside their institution for experts to train or conduct research. This process can take many months and typically involves complicated legal contracts and a significant amount of time from technicians. Our solution eliminates this step, further protecting intellectual property.

Suraj Kapa, M.D., a practicing cardiologist and director of AI for knowledge management and delivery at Mayo Clinic, noted:

“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.”

TripleBlind’s advanced mathematics toolset will allow Mayo to improve the current process by enabling Mayo technicians to perform diagnostic services using data wherever it resides. The collaboration focuses on three milestones. The first milestone includes validating that an algorithm already created and “trained” at Mayo can be delivered to remote hospitals and used locally to achieve accurate diagnoses. This milestone will also demonstrate that TripleBlind’s toolset provides accurate information and effectively enforces appropriate data privacy regulations such as GDPR, HIPAA, data residency regulations and other standards.

The second milestone will demonstrate that TripleBlind’s toolset can be applied to train an algorithm that resides at Mayo to access data remotely and provide diagnostic services. The third milestone will consist of demonstrating that TripleBlind’s solution can support any type of medical data and potentially genetic data in particular. Genetic data is especially difficult to aggregate since almost by definition it is impossible to deidentify using conventional approaches.

We are eager to work together with the Mayo Clinic to assist them in providing more and better services to health care systems around the country.

This news follows TripleBlind’s recent announcement it has received funding and marketing support from Accenture Ventures, the investment arm of global professional services company Accenture (NYSE: ACN). TripleBlind is applying this funding to further refine our solution.

We wish our colleagues, partners, investors and other friends of the company the best for the holiday season. We will have another announcement highlighting our growth in early January, please check back then.

Mayo Clinic Press Release

TripleBlind Collaborates with Mayo Clinic on Next Generation Algorithm Sharing and Training on Encrypted Data

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.

About TripleBlind

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.

For more information, please visit tripleblind.ai.

Contact

Victoria Guimarin
UPRAISE Marketing + Public Relations for TripleBlind
tripleblind@upraisepr.com
415.397.7600