In the worlds of cybersecurity, there’s a lot of attention paid to safeguarding sensitive data from exposure or loss. Many organizations are unaware that the data they manage is vulnerable in the process of transfer. This is particularly the case when data is shared between customers, partners, and business associates.
The management of confidential data exchange is vital to preventing breaches and maintaining trust with stakeholders, customers and business partners. The fact is that security breaches that expose confidential information cause irreparable damage brand reputation and customer confidence. This is especially relevant in the field of healthcare where HIPAA requires facilities to be able to share patient records electronically.
Other industries are not any different. Retailers and ecommerce platforms need to safeguard their customers’ personal data when they purchase products online, while educational institutions must keep student records private to avoid identity theft. Financial institutions must ensure that sensitive files are secured when they transfer files to business partners.
While securing specific locations within systems, servers, or the cloud is a key aspect of managing confidential information, this approach may be inflexible for companies who frequently collaborate with third parties and need to share confidential documents. Alternatively, businesses can rely on encrypted software solutions like those from Anjuna, CanaryBit, CYSEC, Decentriq and others that use encryption and zero-knowledge proofs to allow for confidentiality-preserving sharing.
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