Snowflake Customers Can Safely Share Sensitive Data and Improve the Effectiveness of AML Initiatives, Healthcare Diagnoses and Finance Applications
TripleBlind announced today its partnership with Snowflake, the Data Cloud company, to empower joint customers to run TripleBlind’s API-driven virtual exchange solution that enables data owned by one enterprise to run specific operations on data owned by another enterprise, on Snowflake’s platform.
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“Snowflake’s platform includes multiple features such as dynamic data masking and end-to-end encryption, leveraging sophisticated cloud security technology to secure data both in transit and at rest,” said Riddhiman Das, co-founder and CEO of TripleBlind. “TripleBlind’s private data sharing builds on this strong foundation by allowing the data consumer to analyze and generate insights from sensitive data without decrypting it. With these insights, financial institutions create more effective anti-money laundering initiatives and healthcare systems that improve the quality of their diagnoses through access to larger, more diverse data sets.”
When a data owner and data consumer agree to private data sharing on Snowflake’s platform, TripleBlind’s solution automatically de-identifies the data and ensures they never move outside the owner’s firewall. The data consumer can only perform operations on the data specifically allowed by the data owner and all computations occur in the encrypted space. TripleBlind’s API-driven virtual exchange keeps intellectual property in an algorithm safe from reverse engineering attempts, while Snowflake’s secure data sharing technology means that data is never required to be moved or copied and is up-to-date. TripleBlind’s platform is architected to natively support data sets stored in the Snowflake Data Cloud, which means customers can seamlessly integrate the solution within their instance.
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“Snowflake’s platform enables secure data sharing and the enforcement of privacy regulations to be seamless in the Data Cloud,” said Todd Crosslin, Global Head of Healthcare and Life Sciences, Snowflake. “Our partnership with TripleBlind can give customers the ability to securely share data in a governed way across their organizations and with partners, vendors and customers, without ever needing to move or copy the data.”
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