PortX and eXate Elevate Financial Data Security and Compliance with Strategic Partnership

This groundbreaking collaboration aims to bolster financial data security and regulatory compliance across the banking sector, with a special emphasis on enhancing data protection for financial institutions' increasingly complex data ecosystems.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, April 3, 2024
Information
Tags: 
Software, Finance, Banking, Professional Services, Technology, Fintech, Other Technology, Security, Organization, Principle, ABAC, Entrepreneurship, Partnership, ACH, Risk, Rest, Motion, Access control, Lung compliance, Cloud-based integration, Privacy, Cryptocurrency
Geotags: 
UNITED STATES, NORTH AMERICA, WASHINGTON
Organisation: 
PORTX
Summary
Key Points: 
  • This groundbreaking collaboration aims to bolster financial data security and regulatory compliance across the banking sector, with a special emphasis on enhancing data protection for financial institutions' increasingly complex data ecosystems.
  • Through this partnership, PortX will integrate eXate's Data Protection Platform into its robust IPaaS solution, offering financial institutions a powerful toolset for comprehensive data security and compliance management.
  • The eXate platform sits at the intersection of data privacy, data protection, data residency, and fine-grained access controls, protecting data at rest, data in motion, and data in use.
  • By enforcing data protection effectively, eXate ensures that financial institutions can maintain the highest standards of data security and compliance.


PortX, a leading provider of integration technology for financial institutions known for its pioneering Integration-Platform-as-a-Service (IPaaS), today announced a strategic partnership with eXate, a forefront innovator in data privacy and protection solutions. This groundbreaking collaboration aims to bolster financial data security and regulatory compliance across the banking sector, with a special emphasis on enhancing data protection for financial institutions' increasingly complex data ecosystems.

Through this partnership, PortX will integrate eXate's Data Protection Platform into its robust IPaaS solution, offering financial institutions a powerful toolset for comprehensive data security and compliance management. This collaboration addresses the pressing need for enhanced data protection in the financial industry, enabling institutions to securely manage sensitive information while adhering to global data protection regulations.

The eXate platform sits at the intersection of data privacy, data protection, data residency, and fine-grained access controls, protecting data at rest, data in motion, and data in use. Its innovative technology implements and applies data privacy by default, helping organizations access their data faster, while reducing the risk of leakage, misuse, and non-compliance. By enforcing data protection effectively, eXate ensures that financial institutions can maintain the highest standards of data security and compliance.

"Partnering with eXate aligns with our mission at PortX to deliver secure, innovative solutions that drive efficiency and compliance in the financial sector," said David Wexler, CEO of PortX. "eXate's unparalleled expertise in data protection and their comprehensive platform will enable our clients to navigate the complexities of data security with ease, ensuring that sensitive information is always protected and regulatory requirements are seamlessly met."

The eXate Data Protection Platform enhances PortX's IPaaS solution by targeting common data distribution and ingestion points for a fast, cost-effective implementation. This integration allows financial institutions to capture policies, automatically classify data, and implement robust protection measures efficiently.

“We are thrilled to announce our partnership with PortX, leveraging our advanced data protection platform to create a secure and compliant financial ecosystem,” stated Peter Lancos, CEO and Co-Founder of eXate. “With more than 2/3rd of the world's population being covered under data protection regulation, the demand for data privacy by consumers is at an all-time high and this collaboration signifies a significant milestone in advancing organisations to stay on top of current data privacy demands.”

ABOUT PORTX

PortX is an integration technology company focused on financial services infrastructure that delivers open access to core data and enables rapid project delivery, innovation, and optimal customer experiences. Our solutions facilitate interoperability between internal systems and member services such as online banking, credit checks, mortgage and loan applications, and more, allowing for a real-time 360-degree view of the customer. We help financial institutions empower their teams to connect to fintech partners and real-time payment networks like Zelle®, ACH, Fedwire, Mojaloop, and others. For more information, please visit portx.io and connect on LinkedIn.

ABOUT EXATE

eXate is a distributed software platform for enforcing data privacy, data protection, and dynamic Attribute Based Access Control (ABAC) by embedding centralised controls in common data ingestion and distribution points. With fine-grained access controls, and the ability to apply the Principles of Least Privilege, eXate can automatically enforce data policies and control the flow of sensitive data within a firm and across geographic borders. For more information, please visit exate.com and connect on LinkedIn.

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