Duality Technologies Named to RegTech100 for 2024
Duality Solution Enables Zero-Footprint Financial Crime Investigations and Screenings
HOBOKEN, N.J., Dec. 7, 2023 /PRNewswire/ -- Duality Technologies, the leader in secure and private data collaboration for enterprises and government agencies, announced its inclusion in the RegTech100 for the third consecutive year. The companies on this list are transforming the regulatory technology sector with solutions every financial institution must know about as they map out their strategies for 2024 and the coming years.
RegTech 100 companies address critical challenges or opportunities financial institutions face in compliance, risk management, onboarding, financial crime prevention, information security, and reporting. Criteria for being added to the list include industry significance, company growth, solution innovation, and potential impact on financial institutions.
"Duality is proud to be named to the industry-leading RegTech100 list for the third year in a row. Our innovative approach to data security leveraging privacy enhancing technologies (PETs) continues to garner global recognition from industry forecasters and government regulators," said Duality Chief Executive Officer and Co-Founder, Dr. Alon Kaufman.
A recently published case study by the UK Information Commissioner's Office (ICO) demonstrates how Duality's PET-based platform leverages fully homomorphic encryption (FHE) to enable public and private sector organizations to collaborate on sensitive data that aids in preventing, detecting, and investigating financial crimes, such as money laundering, fraud, and terror financing, while also satisfying GDR privacy requirements.
Duality enables financial institutions, other private sector organizations, and law enforcement to benefit from reciprocal sharing of sensitive account and transaction information, including personal information, to fight financial crimes at the suspicion and pre-suspicion stages. With Duality's software, data is encrypted and anonymized in use, meaning its users are never exposed to sensitive data yet are still able to extract actionable insight. The power to manage and enforce international regulations around data privacy is built into the platform, making it easier to offer GDPR-compliant cross-border partnerships.
"Duality's groundbreaking solution revolutionizes collaborative data analysis. In our interconnected world, where data spans countries, jurisdictions, enterprises, and governments, extracting valuable insights necessitates innovative approaches to safeguard the public and minimize risks associated with sensitive data sharing. Duality's solution breaks down these barriers, enabling secure, private, and scalable collaboration among financial institutions and law enforcement across networks and international borders. This cutting-edge technology ensures compliance with regulatory and legal obligations while empowering seamless collaboration, marking a pivotal advancement in secure data sharing practices," said Kaufman.
RegTech Analyst director of research Mariyan Dimitrov said, "This year's RegTech100 list highlights the leading companies in areas such as information security, compliance, risk management and fraud prevention working on the forefront of innovation and new AI implementations who have demonstrated a strong track record delivering regulatory and operational improvements in financial services."
For more information: Download the Zero Footprint Investigations Solution Brief.
About Duality Technologies
Duality is the leader in privacy enhanced secure data collaboration, empowering organizations worldwide to maximize the value of their data without compromising on privacy or regulatory compliance. Founded and led by world-renowned cryptographers and data scientists, Duality operationalizes privacy enhancing technologies (PETs) to accelerate data insights by enabling analysis and AI on sensitive data while protecting data privacy, compliance, and protecting valuable IP. A World Economic Forum (WEF) Tech Pioneer and a Gartner Cool Vendor, Duality is recognized by numerous industry awards, including Fast Company 2023 World Changing Ideas award, 2023 CyberTech 100 Most Innovative Companies list, 2022 CB Insights' AI 100, the 2022, 2023 and 2024 RegTech 100 Awards, and the AIFinTech100 2022 Awards. Learn more.
CONTACT: Derek Wood, [email protected]
SOURCE Duality Technologies, Inc.