Processing Sensitive Data in the Financial Sector with Secretarium
Secretarium’s confidential computing technology offers groundbreaking solutions to address these challenges, providing a privacy-preserving infrastructure without compromising on performance or compliance.
The financial sector is under increasing pressure to balance operational efficiency, data privacy, and regulatory compliance, especially when handling Personally Identifiable Information (PII). Whether it's for fraud detection, anti-money laundering (AML) efforts, or seamless post-trade processing, the protection of sensitive financial data is paramount.
Confidential Computing: Privacy by Design
Secretarium employs advanced Confidential Computing that ensures financial data, including PII, is securely processed while kept encrypted. Data is never exposed in plaintext during computation, which mitigates the risks of unauthorised access and guarantees confidentiality. This makes Secretarium ideal for sensitive financial workflows, including:
Fraud Detection and Prevention
Secure real-time collaboration between financial institutions to detect fraudulent activities, while adhering to data privacy and protection laws.
AML Compliance
Secure enclaves enable organisations to process PII for regulatory reporting and investigation purposes, without compromising user privacy.
Ensuring PII Protection in Tokenised Trades
At the 2024 Swift Hackathon, Secretarium demonstrated its leading-edge privacy-preserving technology to ensure data privacy in tokenised trades. By integrating secure enclaves to securely interconnect ledgers, Secretarium creates a unique venue to integrate both public and private data, offering enhanced and transparent bridges across the financial ecosystem.
Secretarium enhanced privacy protection ensures that private transaction data and PII are processed securely. This not only reduces the need for traditional reconciliation processes but also strengthens compliance with regulatory standards, allowing financial institutions to automate adjacent functions and remove frictions.
Key Features of Secretarium's Solutions for Data Processing
Encrypted Hardware and Secure Enclaves:
All sensitive data, including PII, is processed within dedicated, isolated environments called secure enclaves, ensuring that no unauthorised party can access the data at any point.
Regulatory Compliance:
Secretarium's platform provides cryptographic attestations to demonstrate how the data is processed and facilitate compliance with data protection regulations. Financial institutions can easily integrate privacy guarantees into their existing workflows to prove to regulators that PII is being processed securely and lawfully.
Interoperability Across Systems:
Secretarium's solution supports integration with both traditional financial systems and emerging technologies such as blockchain networks. This enables seamless PII management across different infrastructures, breaking down silos while ensuring data privacy.
Real-Time Privacy for Financial Data:
In a fast-moving financial world, Secretarium's solution operates at silicon speed, processing data with minimal latency (a 5-12% performance overhead), without sacrificing privacy. This allows financial institutions to handle large volumes of transactions while remaining compliant with privacy regulations.
Programmable Privacy:
Secretarium's solution supports programmable business logic, enabling institutions to design sophisticated workflows while preserving privacy. Whether it’s for AML processes, fraud detection, or post-trade compliance, organisations can apply tailored privacy policies to their data processing systems.
Get in touch
If you want to know more about our technology, please don't hesitate to schedule a free demo with our experts.
Scalable, Sustainable, and Secure
Secretarium's technology is built for scalability and sustainability. It ensures that processing sensitive financial data does not compromise environmental sustainability or operational performance. With ultra-fast resilient algorithms and minimal overheads, Secretarium's solutions deliver secure processing at scale without excessive energy consumption.