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“We imagine Confidential Computing’s success in industries equivalent to healthcare might be efficiently replicated, defending non-public data whereas enabling improved digital fraud detection and prevention. We’re proud to workforce with Intel and Fortanix to carry this functionality to market.”
SANTA CLARA, Calif. and BOSTON and MOUNTAIN VIEW, Calif. (PRWEB)
April 19, 2022
FiVerity, Inc., a supplier of digital fraud prevention options, Fortanix® Inc., the data-first multi-cloud safety firm and Intel® Company (INTC) have introduced Confidential Computing to monetary companies to deal with digital identification fraud, one of many largest issues going through the trade as we speak. FiVerity’s holistic fraud protection platform will now make use of the most recent in knowledge privateness expertise to revolutionize digital fraud defenses amongst banks and monetary establishments, giving customers a brand new degree of safety and management over the personally identifiable data (PII) used to investigate and detect fraud.
Securing identities via the safety of PII is important for fraud prevention. In line with a latest research by the Id Theft Useful resource Heart, 1.5 billion PII parts had been uncovered up to now three years alone. These compromised identities then find yourself on the darkish net and within the fingers of fraudsters. Although protocols exist to guard knowledge in transit (shifting over a community connection) and at relaxation (in storage and databases), solely Confidential Computing addresses important knowledge safety by encrypting knowledge in use — throughout processing or runtime. Delicate knowledge is processed in fortified reminiscence, known as “enclaves,” decreasing its publicity to assaults and potential knowledge breaches.
By using Confidential Computing, FiVerity focuses on the problem of securing non-public data whereas it’s in use throughout digital fraud detection. The FiVerity resolution depends on Intel® Software program Guard Extensions (Intel® SGX), to offer monetary establishments with a brand new degree of safety for delicate buyer knowledge, and improved management over its entry. Fortanix permits FiVerity’s platform to run inside Confidential Computing environments, verifies the integrity of these environments, and manages the SGX utility lifecycle. This mixed platform permits monetary establishments to investigate intelligence on fraud exercise with out exposing PII, preserving banks in compliance with safety and privateness necessities and decreasing their publicity to digital fraud.
“Confidential Computing is an initiative that requires leaders throughout the and software program industries with a purpose to achieve success,” added Mike Blalock, Normal Supervisor, Monetary Companies Business at Intel. “We’re proud that Intel SGX has develop into a vital element for Confidential Computing initiatives throughout so many Fortune 500 corporations, and are excited to work with FiVerity and Fortanix to carry this functionality to the battle towards digital fraud within the monetary companies trade.”
“We’re excited to work with FiVerity and Intel to broaden Confidential Computing within the monetary companies trade, the place the necessity is compelling in a wide range of use circumstances,” mentioned Ambuj Kumar, CEO of Fortanix. “With Fortanix, FiVerity was in a position to incorporate Confidential Computing into its platform rapidly to additional shield buyer identities. We imagine that digital fraud detection is a very essential and well timed problem for the trade which might be addressed with this expertise.”
“To successfully battle digital fraud, the monetary companies trade must embrace higher knowledge privateness protocols,” mentioned Greg Woolf, CEO and Founding father of FiVerity. “We imagine Confidential Computing’s success in industries equivalent to healthcare might be efficiently replicated, defending non-public data whereas enabling improved digital fraud detection and prevention. We’re proud to workforce with Intel and Fortanix to carry this functionality to market.”
Upcoming Webinar
FiVerity, Intel and Fortanix shall be taking part in a webinar, hosted by main publication American Banker and entitled “Preventing Digital Fraud with Confidential Computing,” which can spotlight how Confidential Computing applied sciences and approaches can be utilized to assist detect and forestall digital fraud. The webinar is scheduled for Could 5, 2022 at 2:00 pm EDT, and can function a dwell dialogue on the impression of this new method. To register, please go to this hyperlink.
Assets:
● What’s Confidential Computing?
● Confidential Computing: Safety for the Cloud Age
● Confidential Computing Consortium Whitepapers and Reviews
About Fortanix
Fortanix is the data-first safety firm. Because the trade’s first and largest supplier of Confidential Computing options, Fortanix decouples knowledge safety from infrastructure. Fortanix options empower organizations with centralized controls to safe knowledge unfold throughout clouds, purposes, SaaS, databases, and knowledge facilities. Enterprises worldwide, particularly in privacy-sensitive industries like healthcare, fintech, monetary companies, authorities, and retail, belief Fortanix for knowledge safety and privateness. Fortanix buyers embrace Intel Capital, Basis Capital, Neotribe Ventures, and In-Q-Tel. Fortanix is headquartered in Mountain View, CA. For extra data, go to https://fortanix.com/.
About Intel
Intel (Nasdaq: INTC) is an trade chief, creating world-changing expertise that permits international progress and enriches lives. Impressed by Moore’s Legislation, we repeatedly work to advance the design and manufacturing of semiconductors to assist deal with our prospects’ biggest challenges. By embedding intelligence within the cloud, community, edge and each sort of computing gadget, we unleash the potential of knowledge to remodel enterprise and society for the higher. To study extra about Intel’s improvements, go to newsroom.intel.com and intel.com.
About FiVerity
FiVerity offers monetary establishments with the trade’s first holistic method to digital fraud protection. The platform integrates with a variety of fraud detection options and knowledge units to ship a complete view of the threats going through a company, with a layer of intelligence that gives actionable insights. FiVerity’s platform additional strengthens every consumer’s protection by enabling safe data sharing throughout monetary establishments, regulators, and regulation enforcement companies. For extra data, go to http://www.fiverity.com and observe us on LinkedIn and Twitter.
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