Tech

Applied Blockchain debuts Silentdata for sensitive account sharing

Applied Blockchain, a member of Level 39, is a developer of software products with enhanced reliability and data privacy, today a platform that allows businesses to perform consensual bank account checks without disclosing or sharing bank data. We announced the launch of a certain SILENT DATA.

Enterprises can mitigate financial risk by performing real-time bank account checks on their customers and at the same time completely protecting the privacy of their data.

Open banking was introduced to accelerate the innovation and competition of financial services. However, publishing and sharing bank account data greatly increases the risk of cyber theft and fraud for both financial institutions and their customers.

SILENTDATA is the first platform to enable confidentiality checking of bank accounts, and bank data is not exposed to the platform itself. This introduces a new level of data privacy and data protection.

Bank account checks are already used for renting, mortgages, lending, trading, and onboarding new customers in the legal market.

“If customers find that this type of protection is available for their banking data, we believe they will demand it,” says Adi Ben-Ari, founder and CEO of Applied Blockchain.

Applied Blockchain debuts Silentdata for sensitive account sharing

Source link Applied Blockchain debuts Silentdata for sensitive account sharing

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