Skyflow Launches Fintech Data Privacy Vault

Today, Skyflow announced a new zero trust data privacy vault that allows software teams to build and ship next-generation financial apps and systems faster. The new Fintech Privacy Vault removes the data security, privacy and compliance challenges associated with personal identity and financial data. The vault is delivered as a simple API and supports a broad set of financial services workflows and compliance requirements, including money movement, customer onboarding, customer data management, card issuance, and card acceptance. Its fintech ecosystem integration features also ensure the data can be securely connected to key third parties like Visa, Plaid, Stripe or Alloy for secure, authorized uses.

"When fintechs build workflows that handle highly sensitive data, they must ensure that data is secure from breaches and attacks, compliant with all the relevant regulations, and only utilized in ways that preserve user privacy," said Skyflow CEO Anshu Sharma. "This important work is a huge time sink for developers and compliance is never a sure thing. Instead, developers can implement cutting edge privacy infrastructure through a simple API and focus their time on customer-facing features that drive value and usage."

Every fintech company today builds systems and workflows for one or more of these key functions:

• Onboarding new users
• Identity verification
• KYC and AML compliance
• Payments
• Card issuing
• Card acceptance
• Account opening
• Customer data management
• Cryptocurrency-related integrations

"With pre-built integrations to customer onboarding and card issuance services, Skyflow is saving us a lot of time by completely isolating our environment from any PCI data," said Alok Prasad, CEO of CashRepublic. "It's incredible what we can get out of a simple API."

Skyflow's new Fintech Data Privacy Vault provides a robust and elegant solution, delivered via a simple API. The Fintech Vault builds on the foundations of Skyflow's very first financial services offering focused on payments -- Skyflow's Payments Vault -- and now adds support for a broader set of industry workflows. The Skyflow innovations and key features that make these PII and PCI workflows easy to build while ensuring data privacy and security include:

• New client-side SDKs for iOS, Android, and JavaScript built around Skyflow Elements, special APIs that make it easy to securely collect and tokenize sensitive data from within mobile or web apps.
• Pre-built integrations to key fintech ecosystem service providers, including new and improved integrations with Alloy, Plaid, Visa, Moov, Mulesoft, Experian, Stripe, and Paystand.
• A simple way for developers to build their own custom connections to any internal or external service they need, including KYC and identity verification services, credit bureaus, card networks, and more.

In addition, Skyflow's unique governance engine allows fine-grained data access controls, so data can be used in carefully controlled and fully auditable ways. Skyflow's global deployability and isolated VPC data architecture make meeting data residency requirements and compliance with laws like GDPR straightforward and efficient.

One Vault Solves Many Problems

The data privacy vault approach provides a complete solution, addressing all of the key challenges associated with PCI and PII data privacy, including:

• Compliance
• Data Security
• Data Governance
• Data Residency
• Secure Data Sharing
• Secure Analytics
• Encryption/Tokenization

Delivered via a simple REST API, Skyflow can be deployed in a few hours or days.

Additional resources

• Skyflow Fintech Data Privacy Vault page.
• Special pricing and incentives for startups of all sizes
• Skyflow will be exhibiting at the Future of Fintech event in NYC beginning on October 5th.
• Skyflow will be exhibiting at Money 20/20 in Las Vegas beginning October 24th (Booth 5414)

About Skyflow

Founded in 2019, Skyflow is a data privacy vault for sensitive data. Our founders wanted to radically transform how businesses handle their users' financial, healthcare and other personal data -- the data that powers the digital economy. Inspired by the data vaults that leaders like Apple and Netflix built to handle customer data, our vision was to deliver the same kind of data privacy vault as a simple and elegant API, something any developer could easily build into their application, the same way they use Stripe, Twilio, or Okta. Skyflow is based in Palo Alto, California, with offices in Bangalore, India. For more information, visit http://www.skyflow.com or follow on Twitter and LinkedIn.