The compliance landscape for businesses has been steadily becoming more complex, costly, and fraught with risk over the past few years. Not only are the laws evolving and expanding, but complying with them is harder than ever with millions of employees working from home and fraudsters with more and more tools and tricks at their disposal.
A New Approach To An Old Challenge
Journey’s solution takes a unique approach to helping businesses reduce the scope of compliance by enabling a network-based solution that emphasizes both security and privacy with advanced cryptographic techniques. Journey’s “Zero Knowledge” solution minimizes the people, processes and technologies that touch the sensitive information, making it easier and cheaper to comply with even the strictest regulations.
Journey collects PII from the end user on their device (laptop, mobile phone, tablet, etc), individually encrypts that information, verifies it against the appropriate database, and delivers an “attestation” or certificate that the information is valid, but (and this is the kicker) never reveals the actual information to the agent or employee. Journey never has the keys to the encrypted PII, leveraging a cutting-edge cryptographic technology as “Zero Knowledge” to describe this exchange of information.
Reducing the Scope Of Compliance
The key to reducing the scope of compliance is reducing the number of people, processes or technologies that store, process or transmit sensitive information. Bypassing any of these elements will help reduce the scope and streamline your ability to comply. Journey’s solution bypasses entire tech stacks and avoids storing or sharing information, thereby providing businesses with a single solution that is easy to implement and solves many compliance issues simultaneously..
- PCI DSS Compliance – any contact center that takes payment knows the pain and cost associated with PCI compliance. Each element of the tech stack and all log files that might be involved or exposed to payment information are included in audits, and the audits and, if needed, fines are astronomical. Journey individually encrypts the payment, verifies it through the payment processor, and delivers a certificate that the card data checks out, but never shares the PII to the agent. This saves millions of dollars for many businesses and also enables all agents in your organization to capture payments.
- KYC and Banking Secrecy Act Compliance – Collecting, verifying, and properly storing PII to comply with BSA regulations is one of the most challenging aspects of operating in financial services. Journey’s solution enables FinServ businesses to securely collect the requisite information, and verify the customer’s identity to an even higher standard, by integrating a higher degree of accuracy using biometrics.
- GDPR and CCPA – Consumer privacy laws will likely continue to expand as citizens demand greater control over their personal information. With Zero Knowledge protecting their sensitive information and bypassing systems and people, consumers’ private info remains just that – private.
- HIPAA – Health records are one of the most valuable assets on the dark web because of the rich personal data included in them. Protecting that information in transit creates a stronger protection and thwarts hackers.
If you’d like to discuss your compliance challenges, get in touch. We’d be happy to brainstorm your organization’s challenges and possible solutions.