Management of Confidential Data Exchange

In the worlds of cybersecurity, there is much focus given to protecting sensitive data against exposure or loss. Many organizations are unaware that the data they control is at risk during the transfer process. This is particularly true when information is shared between customers, partners and business associates.

The management of sensitive data exchanges is essential to prevent breaches and keep trust with customers, stakeholders and business partners. Security breaches that expose confidential information can have a devastating effect to the brand’s reputation and trust. This is particularly relevant in the field of healthcare, where HIPAA requires facilities to provide secure ways to share patient records electronically.

Other industries are no different. Retailers and ecommerce platforms need to secure their customers’ private information when they purchase products online, and educational institutions must ensure that student records secret to prevent identity theft. Financial institutions must ensure that sensitive documents are protected when they send files to business partners.

While protecting specific areas on servers, systems, and in the cloud is a critical aspect of handling confidential information but this approach is inflexible for businesses that regularly work 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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