As Australia prepares for new data privacy legislation, Priviti receives recognition for its consent management solution, which gives consumers control over data sharing and helps companies reduce operational and compliance risk
SYDNEY, 12 December 2018 – Leading Australian bank Westpac has announced Priviti as the winner of the Westpac Chief Product Officer Award at its 2018 Innovation Challenge, an initiative that gives startups the opportunity to pitch their ideas to help businesses meet their regulatory obligations and enhance customer experience. This accolade follows Priviti’s pitch to a panel of business experts at Westpac’s event in Sydney.
As Australia prepares for the Consumer Data Right, this year’s Challenge shortlisted five RegTech solutions addressing key issues including responding to regulatory change, ensuring customer privacy and consent, and product management.
Priviti’s team has contributed to the Australia standards working groups, helping to shape the future standard for data privacy and consent for sharing financial data.
Priviti is helping global financial institutions tackle consent issues in banking. Priviti gives consumers enhanced control over data sharing and helps companies comply with data protection laws and new regulations. Its patented technology helps organisations systemise and manage granular consent for data sharing at scale. Its software enables any company to obtain, verify and match consent between multiple parties with audit trails for regulatory compliance, dispute resolution and analytics.
Priviti’s Head of APAC Dermot McCann said: “We are delighted that Priviti won the Chief Product Officer Award at Westpac’s Innovation Challenge. This is significant validation of the value Priviti adds by solving major data privacy and compliance issues for organisations with a secure, scalable solution that gives customers control over their data.”
Priviti’s CEO Dave Cunningham said: “This is a tremendous accolade for the Priviti team following our recent launch in Sydney three months ago. The recognition from Westpac is especially meaningful given that Australia is at the forefront of data privacy innovation with the Consumer Data Right. We are excited about the opportunity to set a global standard for consent management and enable businesses and consumers to collaborate and share data with trust.”
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Notes to editors:
Priviti helps companies systemise and manage granular consent for data sharing and transactions. Our software enables any company to obtain, verify and match consent between multiple parties, transaction by transaction, with audit trails for compliance, dispute resolution and analytics. With our patented technology, organisations can implement a structured consent policy for data sharing with precise records and controls. Our mission is to set the global standard for consent management and empower businesses and consumers to collaborate and share data with trust. Priviti has offices in Galway, Dublin, London, Singapore and Sydney.
For further information including a sample open banking consent policy for data sharing, visit www.priviti.com