A Bold Quest to Revolutionise Data Privacy From Big Tech to Startup

In the shadowy corners of the digital world, a storm is brewing. Data breaches have become alarmingly commonplace, and the need for robust privacy solutions has never been more critical.

We don’t need to look too far; consider some recent headlines: In 2023, the MOVE it Transfer breach, discovered in May, sent shockwaves through hundreds of organisations globally, exposing millions of individuals’ data. Later that year, in October, the genetic testing company 23andMe faced a significant breach affecting approximately 6.9 million users, raising concerns about the security of sensitive genetic information.

The turn of the year brought no respite. In January 2024, Okta, a major identity and access management company, disclosed a breach impacting nearly 200 customers, including major corporations and government agencies. In February 2024, a devastating ransomware attack on Change Healthcare disrupted healthcare operations across the United States and affected patient care and financial transactions.

Adding to these concerns, a leak from Microsoft’s AI research division in January 2024 exposed 38 terabytes of sensitive data, including internal communications and source code, underscoring the potential vulnerabilities even in cutting-edge technological research.

These aren’t isolated incidents but part of a growing trend that saw data breaches surge by 38% in 2023 alone. These are stark reminders of the ongoing challenges in safeguarding digital assets and the critical importance of robust cybersecurity measures in an increasingly interconnected world.

However, amidst this digital chaos, we saw an opportunity. enprivacy, was born from the ashes of data breaches and fueled by a mission to redefine data privacy for the digital age. Ours is a story of ambition, innovation, and relentless determination to tackle one of the most pressing issues of our time.

Redefining Data Privacy for the Digital Age

At enprivacy, we’re redefining what data privacy means to organisations. Our mission began with a simple observation: while many companies want to comply with data privacy regulations, they often struggle to ask the right questions and implement effective measures to reduce the risk of data breaches. We spent significant time educating clients on the nuances of data privacy and the potential dangers they face.

Before we continue our story, let’s meet the minds behind enprivacy.

A Powerhouse of Expertise

Behind enprivacy is a trio of seasoned professionals, each bringing unique expertise. They bring together a wealth of experience in cybersecurity, financial compliance, and digital banking.

Ranuk Mendis, with his background in cybersecurity and experience at Meta, is in charge of combating data privacy threats. Yev Korneev contributes his extensive financial crime compliance and fraud prevention knowledge, which he has honed through roles at major institutions across multiple continents. Nisha Paramjothi rounds out the team with her two decades of experience in digital banking and fintech, offering crucial insights into the intersection of data, AI, and privacy in the financial sector.

This team is our “secret weapon” and has successfully positioned enprivacy at the forefront of data privacy innovation, equipping the company to address the complex challenges of the digital age.

Our “Magic Sauce” Formula

VOur founding team’s experience led them to develop what we like to think of as our “magic sauce” formula. It’s a straightforward approach that brings risk and compliance together by addressing four key questions:

1. What high-risk data do you have, and how high-risk is it?
2. Who in your organisation can access this data, and what are they doing with it?
3. Has this data ever been breached? Can it be breached, and if so, what can be done?
4. How can we build an audit trail for all these questions to reach compliance and satisfy regulators?

By focusing on these fundamental issues, we’ve helped organisations build a stronger privacy culture and better understand their data landscape.

We believe in building a culture of privacy beyond mere compliance and a comprehensive approach to data privacy. As such, we encourage companies to ask themselves crucial questions about their data collection, storage, handling practices, and breach preparedness strategies.

Startup Growing Pains and Momentous Milestones

Of course, the journey from big tech to startup hasn’t been without its challenges. We’ve faced the hurdles most early-stage startups in stealth mode face: capital management, decision-making, and ensuring we’re represented in the right places. Product development has been a whirlwind, with a tight timeline from concept to launch. However, these challenges have only strengthened our resolve and sharpened our focus.

Despite the obstacles, we’ve achieved significant milestones that make us proud. We’ve established our brand as trusted experts in the data privacy space, assembled an exceptional team and advisory board, and gained traction by securing their first clients. Our presence at industry conferences and engagement on platforms like LinkedIn have helped us build recognition and credibility in the field and form valuable partnerships.

Talking about partnerships, recently, we were thrilled to announce our collaboration with RegCoNet, which is set to bridge critical gaps in data privacy and governance.

This partnership aims to align data privacy, governance, compliance, operations, and risk management, allowing organisations to streamline processes, improve accuracy, and deliver better customer experiences. Together, we’re addressing challenges such as slow processes due to regulations, inaccurate results from siloed data processes, and hindered risk detection.

Innovating for a Secure Future

As we look to the future, we’re more convinced than ever of the critical importance of our mission.

The alarming trend in data breaches opens up a broader area of work for organisations in the data privacy sphere – and we’re here to help navigate these choppy waters! Rest assured, we’re certainly not resting on our laurels. As you read this, we’re hard at work on innovations that we believe will revolutionise how organisations approach data privacy. While we can’t reveal all our cards just yet, we’re excited about what’s brewing and can’t wait to share more soon.

In the meantime, we remain committed to simplifying data privacy management and helping organisations ask the right questions about their data. Whether it’s a small startup or a multinational corporation, the principles of effective data privacy remain the same—and enprivacy is here to guide you every step of the way.