Management of Confidential Data Exchange

In the world of cybersecurity, a lot of attention is given to safeguarding sensitive data from being lost or exposed. Many organizations don’t realize that the data they control is vulnerable during the transfer process. This is particularly true when information is shared between customers, partners and business associates.

Controlling confidential data exchange is essential to prevent breaches and maintaining trust with stakeholders, customers and business partners. The fact is that security breaches that expose confidential information do irreparable damage to the reputation of a brand and also to the confidence of customers. This is especially true for the healthcare industry where HIPAA stipulates that healthcare facilities must have a secure way to share patient data electronically.

Similar to other industries. E-commerce platforms and retailers must safeguard their customers’ personal information when they purchase goods online, while education institutions must keep their student records secret to prevent identity theft. Financial institutions must ensure that sensitive files are secure when they transfer files to business partners.

While safeguarding specific locations on servers, systems, and in the cloud is an important aspect of managing confidential data but this approach is inflexible for businesses who regularly collaborate with third-party here are the findings companies 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.