BigID transforms how enterprises protect and manage the privacy of personal data. Organizations are facing record breaches of personally identifiable information (PII), and proliferating global privacy regulations like GDPR mean enterprises could face fines reaching 4 percent of annual revenue. By bringing data science to data privacy with the use of advanced machine learning and identity intelligence, BigID aims to give enterprises the software to safeguard and steward the most important asset organizations manage: their customer data.
Nominated for: Best RegTech Solution
Preserving and securing customer data privacy has become an increasingly important imperative for financial services providers across the globe. The introduction of the EU's General Data Protection Directive in May is the latest in a string of compliance mandates, but certainly the most sweeping and comprehensive. Financial services providers are now grappling with finding more efficient and automated ways to understand their customer's private data, so as to protect and govern the data. However, before companies do anything with that data, they need to understand what data they have. BigID is the first product to apply identity intelligence and smart correlation to personal data discovery and classification, providing companies the content and context they need to make decisions on how to best manage and protect data. The BigID platform can search across multiple and diverse big data stores, find private information for individuals across different sources, map the relationships across sources, see how data flows across different geographies and help organizations comply with local data privacy regulations. Through automated discovery, indexing and inventorying of personal and private data by individual identities (or "data subjects" in the Organization's language), BigID can help enterprises address GDPR requirements centered on individuals' data privacy rights, including subject access rights, the right to be forgotten as well as expedite breach response notification, ensure data collection in conformance with consent agreements and limit data collection to the defined purpose of use.