94% of Surveyed CDOs State Optimized Data Privacy Technology Leads to Increased Revenues, New TripleBlind Survey Reveals

Nearly Half of Healthcare and Financial Services Executives Believe Enhanced PET Solutions Give Their Organizations a Competitive Advantage

KANSAS CITY, MO — August 17, 2022 – In a new survey released today by TripleBlind, 94% of CDOs from healthcare organizations and financial service firms stated deploying data privacy technology that enforces existing data privacy regulations would result in increased revenues for their organizations. 37% of respondents stated they estimate improved collaboration would increase revenues as much as 20%. In addition, 46% stated increased data collaboration would give their organization a competitive advantage over other organizations. TripleBlind is creator of the most complete and scalable solution for privacy enhancing computation.

 

Additional key findings of the survey included:

  • 64% of respondents are concerned that employees at organizations with which they are collaborating will use data in a way not authorized in signed legal agreements, 
  • 60% are concerned people at organizations with which they collaborate will use data that violates HIPAA and/or other data privacy regulations,
  • 60% are concerned that the privacy-enhancing technology (PET) solution deployed by data collaboration partners will modify the data to make the results of analyses inaccurate.

 

“There is strong agreement that optimizing effective data collaboration through advanced PET solutions will result in both increased revenues and enhanced competitive advantage,” said Riddhiman Das, TripleBlind’s Co-founder and CEO. “Today, advanced PET solutions exist that render legal agreements obsolete and prevent people at both the data user and data owner from using data in a way that violates HIPAA and other data privacy regulations or modifies data in a way that results in inaccurate analyses.”

 

Healthcare Organizations Especially Concerned about Regulatory Compliance and Accuracy

Healthcare organizations represented in the survey include hospitals, healthcare systems, pharmaceutical manufacturers and health insurance companies. In terms of the value of enhanced data privacy to these organizations, 43% of healthcare system respondents believe it would result in increased revenues of up to 20%, an additional 48% believe up to 10%. 52% and 50% of healthcare system and hospital respondents, respectively, stated expanded data collaboration would give their organizations a competitive advantage.

The level of concern about people at data user organizations using data in a way that violates HIPAA and/or other data privacy regulations varies among different healthcare organizations. This was of great concern to healthcare insurance carriers with 86% citing this concern, as well as to 71% of hospital respondents, and 50% of healthcare systems respondents. 75% of healthcare system respondents were also concerned that data user organizations had installed PET solutions that would make the results of analyses inaccurate, 73% of pharma manufacturers and 60% of hospital respondents shared this concern.

 

Financial Services Firms are Optimistic about the Potential of Improved Data Collaboration

Financial services firms included in the survey are banks, broker/dealers and credit card issuers. 60% of broker/dealer CDOs/senior data managers state improved data collaboration practices would include revenues up to 20%, while 59% of bank executives had the same response. Half of broker dealers, 47% of banks and 44% of credit card issuer respondents believe enhanced data sharing would create a competitive advantage for their organizations.

Regarding use of data, financial institutions are somewhat less alarmist than their healthcare counterparts. 67% of credit card issuers and 63% of bank respondents are concerned that people at data user organizations will use data in a way that violates one or more data privacy regulations. And 50% of broker/dealer respondents are concerned people at data user organizations will deploy PET solutions that modify data to make analyses inaccurate, along with just 27% of bank and 25% of credit card issuer respondents. 

 

To receive the complete results of the survey, please visit https://tripleblind.com/cdo-data-privacy-report/

 

 

About the Survey

TripleBlind surveyed 150 chief data officers (CDOs) and other executives in charge of data management at healthcare and financial services organizations with annual revenues of at least $50 million and at least 250 employees. IntelliSurvey, which conducts approximately 5,000 online surveys annually, executed the survey.

 

Additional Resources:

 

About TripleBlind

Combining Data and Algorithms while Preserving Privacy and Ensuring Compliance

TripleBlind has created the most complete and scalable solution for privacy enhancing computation.

The TripleBlind solution is software-only and delivered via a simple API. It solves for a broad range of use cases, with current focus on healthcare and financial services. The company is backed by Accenture, General Catalyst and The Mayo Clinic.

TripleBlind’s innovations build on well understood principles, such as federated learning and multi-party compute. Our innovations radically improve the practical use of privacy preserving technologies, by adding true scalability and faster processing, with support for all data and algorithm types. We support all cloud platforms and unlock the intellectual property value of data, while preserving privacy and ensuring compliance with all known data privacy and data residency standards, such as HIPAA and GDPR. 

TripleBlind compares favorably with existing methods of privacy preserving technology, such as homomorphic encryption, synthetic data and tokenization and has documented use cases for more than two dozen mission critical business problems.

 

For an overview, a live demo, or a one-hour hands-on workshop, contact@tripleblind.com.

Contact

mediainquiries@tripleblind.com

Constellation Research Report: TripleBlind - A Lateral Approach to Privacy-Enhanced Data Sharing

TripleBlind Makes an “Elegant and Easily Verified” Data Privacy Promise, New Constellation Research Report Finds

New Constellation Research Report Finds that TripleBlind Makes an “Elegant and Easily Verified” Data Privacy Promise 

Report Confirms MITRE Engenuity Evaluation of Solution Capabilities

KANSAS CITY, MO — August 9, 2022 TripleBlind “makes an elegant and easily verified privacy promise … the architecture is simple and there is … no interference with any of the raw data, unlike in the case of homomorphic encryption or differential privacy,” notes a new report on the company from analyst firm Constellation Research. The new report, titled “TripleBlind: a Lateral Approach to Privacy-Enhanced Data Sharing,” is now available on the TripleBlind and Constellation Research websites. TripleBlind is the creator of the most complete and scalable solution for privacy enhancing computation.  

“TripleBlind is a leader in the relatively new and fast-evolving category of privacy-enhanced computation (PEC),” notes Steve Wilson, Vice President and Principal Analyst at Constellation Research and the author of the report. “With TripleBlind APIs and user interface, customers have access to secure multiparty computation (SMPC) and other advanced privacy tools,” he notes. Wilson continues, “This includes TripleBlind’s own computationally superior Blind Learning (a patented solution for distributed, privacy-first, regulatory-compliance machine learning at scale), Advanced Encryption Standard (AES) inference, distributed inference, and distributed regression techniques … all data remains localized within the customers’ own networks.”

He goes on to call alternative PEC technologies such as homomorphic encryption, statistical perturbation or pseudonymization “complex and fragile,” while branding others that copy data to an intermediate clean room for hosted analysts as “ones that challenge data localization policies.”

 

Constellation Confirms Evaluation Completed by MITRE Engenuity

The Constellation report also confirms the findings of an independent analysis completed by MITRE Engenuity of TripleBlind and other cybertechnologies in February 2022. To evaluate these technologies uniformly, the MITRE Engenuity team delineated synthetic use cases that approximated the major types of studies performed in observational research or pragmatic clinical trials over the past year. MITRE then created a list of features its team believed necessary to evaluate each technology against each use case. The team determined four features that were mandatory and five that were desirable. It also identified two business related-metrics that gauged technology readiness and cost of deployment. 

Constellation confirmed MITRE Engenuity’s findings that TripleBlind met all four of the mandatory requirements, three of the four desired requirements and partially met two additional desired requirements. In terms of technological readiness, TripleBlind scored as fully operational and low cost in terms of operations and maintenance. 

The Constellation report concluded, “The TripleBlind code has undergone rigorous independent evaluation … proving both the fundamental mathematics and its high technology readiness. And the company has impressive reference implementations with prestigious institutions such as the Mayo Clinic.”

 

Additional Resources:

 

 

About TripleBlind

Combining Data and Algorithms while Preserving Privacy and Ensuring Compliance

TripleBlind has created the most complete and scalable solution for privacy enhancing computation.

The TripleBlind solution is software-only and delivered via a simple API. It solves for a broad range of use cases, with current focus on healthcare and financial services. The company is backed by Accenture, General Catalyst and The Mayo Clinic.

TripleBlind’s innovations build on well understood principles, such as federated learning and multi-party compute. Our innovations radically improve the practical use of privacy preserving technologies, by adding true scalability and faster processing, with support for all data and algorithm types. We support all cloud platforms and unlock the intellectual property value of data, while preserving privacy and ensuring compliance with all known data privacy and data residency standards, such as HIPAA and GDPR. 

TripleBlind compares favorably with existing methods of privacy preserving technology, such as homomorphic encryption, synthetic data and tokenization and has documented use cases for more than two dozen mission critical business problems.

For an overview, a live demo, or a one-hour hands-on workshop, contact@tripleblind.com.

 

Contact

mediainquiries@tripleblind.com

On the Radar: TripleBlind enables secure data sharing for third-party processing Omdia

New Omdia Report Cites TripleBlind Privacy-Enhancing Technology as ‘Attractive to Customers Large and Small’

KANSAS CITY, MO — July 20, 2022 TripleBlind, creator of the most complete and scalable solution for privacy enhancing computation,  was featured in a new report from analyst firm, Omdia. The report, “On the Radar: TripleBlind Enables Secure Data for Third-Party Processing,” is now available on the TripleBlind and Omdia websites.  

Rik Turner, principal analyst, Emerging Technologies and author of the report noted, “This issue (data collaboration) has arisen of late because analysis of big datasets can achieve unique insights, that is, ones that analysis of smaller datasets simply cannot surface. This is particularly important in certain fields such as healthcare, where the analysis of the data of millions of patients can indicate general trends in an entire population or in particular demographic groups.”

The report compares TripleBlind to other privacy-enhancing technologies (PET) as follows:

  • Homomorphic encryption “tends to be quite slow and is very compute intensive. There are also academic debates about whether homomorphic encryption is quantum-resistant.”
  • Confidential computing “does not address the issue of data anonymization and is hardware dependent.”
  • Differential privacy “like homomorphic encryption, cannot operate on audio or video files.”

 

Turner adds that TripleBlind’s solution is complementary to confidential computing “in that it can deliver the encryption/anonymization capability that confidential computing itself does not.” He notes that TripleBlind is also complementary to differential privacy.

“Healthcare is the place where third-party analytics delivered on securely private data has so far generated the most immediate interest. That said, tech such as TripleBlind’s is clearly relevant elsewhere as its financial services customers demonstrate,” Turner concluded.

 

Additional Resources:

 

 

About TripleBlind

Combining Data and Algorithms while Preserving Privacy and Ensuring Compliance

TripleBlind has created the most complete and scalable solution for privacy enhancing computation.

The TripleBlind solution is software-only and delivered via a simple API. It solves for a broad range of use cases, with current focus on healthcare and financial services. The company is backed by Accenture, General Catalyst and The Mayo Clinic.

TripleBlind’s innovations build on well understood principles, such as federated learning and multi-party compute. Our innovations radically improve the practical use of privacy preserving technologies, by adding true scalability and faster processing, with support for all data and algorithm types. We support all cloud platforms and unlock the intellectual property value of data, while preserving privacy and ensuring compliance with all known data privacy and data residency standards, such as HIPAA and GDPR. 

TripleBlind compares favorably with existing methods of privacy preserving technology, such as homomorphic encryption, synthetic data and tokenization and has documented use cases for more than two dozen mission critical business problems.

For an overview, a live demo, or a one-hour hands-on workshop, contact@tripleblind.com.

 

Contact

mediainquiries@tripleblind.com

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