Published
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Revenues of €589.1 million (+12% YoY)
EBITDA of €237.3 million (+21.7% YoY)
- Issuing and acquiring transaction volumes back to pre-Covid growth levels
In the third quarter of 2021 revenues of €207.5 million (+9% YoY) and EBITDA of €91.6 million (+12% YoY), confirming the growth trend of the volumes processed
Rapid increase of volumes in Q3 2021 following gradual easing of restrictions: in September +22% YoY, and +17% compared to the same month in 2019
Guidance 2021: expected growth in revenues in the year of around +10% and EBITDA of around +15%.
SIA's Board of Directors, meeting under the chairmanship of Federico Lovadina, approved the consolidated financial results at 30 September 2021, which showed strong growth compared to the first nine months of 2020.
CONSOLIDATED FINANCIAL RESULTS AT 30 SEPTEMBER 2021
€M | 9M 2021 | 9M 2020 | 9M 2021 vs 9M 2020 | ||||||
Card & Merchant Solutions | 401.2 | 355.9 | 12.7% | ||||||
Digital Payments Solutions | 118.9 | 105.0 | 13.2% | ||||||
Capital Market & Network Solutions | 69.0 | 64.9 | 6.3% | ||||||
Total Revenues | 589.1 | 525.8 | 12.0% | ||||||
Personnel Costs | 163.7 | 150.3 | 8.9% | ||||||
Operating Costs | 188.1 | 180.6 | 4.1% | ||||||
Total Costs | 351.8 | 330.9 | 6.3% | ||||||
EBITDA | 237.3 | 194.9 | 21.7% | ||||||
In the first nine months of 2021, SIA Group reported revenues of €589.1 million, up 12% YoY, entirely on an organic basis. Revenues maintained a geographical diversification in line with 2020 (approximately 70% in Italy and 30% abroad). In the third quarter of 2021, SIA Group revenues amounted to €207.5 million (+9%) compared to the same period last year.
EBITDA amounted to €237.3 million, up 21.7% on the same period last year, with an EBITDA margin of 40%, up 3% compared to the level recorded in the third quarter of 2020, driven by payment transaction volumes returning to pre-Covid 19 growth levels. In the third quarter of 2021, the SIA Group reported EBITDA of €91.6 million, up 12% on the same quarter of the previous year.
At the level of the market segments in which SIA Group operates, the following results were obtained in the first nine months of the year:
Card & Merchant Solutions, representing 68% of the total revenues generated by the Group - split approximately between activities linked to issuing (63%) and acquiring (37%) services – recorded revenues of €401.2 million, up 12.7% on the same period of 2020. In the first nine months of this year, the segment benefited from a significant growth in revenues mainly related to issuing (+16% YoY) and acquiring (+11% YoY) transactions, thanks to the positive trend in volumes and new customers becoming fully operational;
Digital Payments Solutions, representing 20% of the Group's total revenues, recorded revenues of €118.9 million, up 13.2% on the same period of 2020. The segment was positively impacted by the performance of revenues from volumes processed in particular in Clearing and Gateway services (+13% YoY) and the development of projects in the Clearing and Public Sector areas;
Capital Market & Network Solutions, representing 12% of the Group's total revenues, reported revenues of €69 million, up 6.3% on the same period of 2020, due to growth in Network Services volumes (+22% YoY).
In the first nine months of 2021, costs amounted to €351.8 million, an increase of 6.3% compared to the same period in 2020 which already included some measures for reduction of non-recurring costs due to the Covid emergency. This rise is due to higher personnel costs (+8.9% YoY) incurred for organic growth and higher operating costs (+4.1% YoY) related to the increase in business activities.
As of 30 September 2021, Net Financial Debt amounted to €819 million compared to €910.4 million as of 30 June 2021. The net debt/EBITDA ratio as of September 2021 was 2.5x, down from 2.9x in the previous quarter.
SIA has shown a high degree of resilience in its business model and its ability to seize the positive trends in the payments segment as well as to initiate and complete new partnerships with banks and major corporates, despite the current ever-changing scenario and the inevitable uncertainty surrounding the speed of recovery.
Assuming no major new restrictions in the geographic areas in which it operates occur, SIA expects to achieve a growth in revenues of approximately +10% YoY and an increase in EBITDA of approximately +15% YoY by year-end 2021.
BUSINESS EVENTS AND INITIATIVES STARTED UP IN THE THIRD QUARTER OF 2021
Corporate events
On 30 September - implementing the resolutions passed by the SIA and SIA Advisor Board Meetings on 21 June 2021 - the merger by incorporation of SIA Advisor into SIA was signed. The deal forms part of the wider process of rationalization and reorganization of the companies in the SIA Group.
Business Events
SIA has become part of Fin+Tech, the Accelerator dedicated to fintech and insurtech startups of the CDP National Accelerators Network, born out of an initiative of CDP Venture Capital together with Digital Magics, Startupbootcamp and Fintech District, and whose institutional partners include Consob, through its Consob Tech working group.
The three-year project will see startups collaborating with leading companies in the financial and insurance sectors, with the dual aim of developing and perfecting the startups' solutions and accelerating the digital transformation of the companies.
SIA, co-investor and corporate partner of the project since its conception, will provide its support to the program and to the startups through its expertise, technology and strong position in the field of open innovation.
Card & Merchant Solutions
BAWAG P.S.K., one of Austria's largest banks, has entrusted SIA with the management and processing of credit and prepaid cards issued by BAWAG P.S.K., easybank and PayLife.
Digital Payment Solutions
SIA has been chosen by Banking Circle, a new Luxembourg-based bank, for the launch in Europe of its new instant payment service connecting to Eurosystem's TARGET Instant Payment Settlement (TIPS).
Payments Canada announced the go-live of the first release of Lynx, the new national high-value payment system created by SIA which represents a key part of the multi-year initiative undertaken by Payments Canada to modernize and transform the national payments ecosystem. This is the first-ever project for SIA in North America, confirming our role as a technology partner to the banking and financial communities.
Capital Market & Network Solutions
CBI, the collaborative hub for technological innovation and digitalization of the financial industry, has entrusted Nexi and SIA to redesign the technology architecture interconnecting all banks and CBI’s Payment Service Provider (PSP) clients. The new architecture, called CBI Hub Cloud, will enable the migration of CBI infrastructures to a private, dedicated Cloud technology, based on the CBI Globe open banking platform.
SIGNIFICANT EVENTS OCCURRING AFTER THE CLOSE OF THE QUARTER
On 14 October, the Italian Antitrust Authority (AGCM) issued a conditional authorization for the merger by incorporation of SIA S.p.A. into Nexi S.p.A. This authorization follows those already obtained from the respective authorities in Poland, Austria and Germany. As far as the card processing of the PagoBANCOMAT Circuit and non-SEPA clearing markets - identified as domestic - are concerned, the Authority ordered specific remedies, of a behavioral nature in the first case and of a structural nature in the second, which will be implemented within the timeframe agreed. With the authorization obtained, the process towards the merger continues and will be completed as soon as possible while taking into account the necessary technical and authorization fulfilments, including authorizations from the German regulatory authority and those from the Danish authority for the investment sector, as well as from Consob, the Italian National Commission for Companies and the Stock Exchange.
On 28 October, ASCAI (Association for the development of corporate communication in Italy) awarded SIA the prize for its digital radio "SIA on-air" as the best corporate publication in a competition which saw the participation of forty leading Italian companies operating in twenty different sectors. The "Best Radio" award was assigned by a jury of qualified professionals for having fully succeeded in bringing the Group's employees together during the long period in which they worked from home, achieving service and engagement objectives while ensuring great quality.
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New York Clausematch, the global regulatory technology (RegTech) company automating policy management and regulatory compliance at financial institutions and other regulated organizations, today officially launches its new functionality - document modifications. The decision to launch modifications comes after a request from the company's core clients.
With the release of modifications, Clausematch presents an advanced functionality that allows organizations to manage deviations to the original document and solve a number of different use cases, while retaining governance and control over the content, permissions, and workflows. Users can now create addendums to their documents and manage them separately. They can also set different levels of access and permissions to these documents on a granular level. This is the most common use case for modifications as well as translations, i.e. creating different interconnected language versions of the same document.
On a basic level, addendums are additions to main documents. They allow you to keep all the changes synchronized on a granular level. Over 300 addendums have been created for a Tier 1 US Bank who originally suggested this functionality. This comprises 10% of all governance documents, i.e. on average, there are up to 10 modifications to 1 document. Clausematch’s modifications allow simultaneous management without losing any important connections and reviewers. The bigger the company is, the more difficult the processes are. For a Top Tier Global Bank working across multiple jurisdictions, this feature comes as an absolute necessity.
What used to take 4 weeks of work to make changes across several compliance groups working with local versions of documents, is now achievable in one day. Identification of which information relates to each client can be seen immediately without any confusion.
Previously, many resources were assigned to syncing these modified versions, keeping them updated and retaining the main documents unchanged. For instance, you had one core document and you needed to incorporate 50 changes for different jurisdictions and for different local versions of that document. For 4 weeks in a row, these documents used to be in the 'work in progress' mode as all of the teams worked on them and it took time and effort to collate the changes without losing important beats. This was the starting point to kick-off the process of building the new Clausematch feature that in fact transforms the way the platform functions making it a significant add-on.
The modification documents allow inheriting full content from the original document automatically syncing the latest revisions. They also allow the content to be updated in a smart and efficient way.
Yan Shtefanets, Product Manager at Clausematch, commented: "Today, we officially present a new type of document that will help big banks and enterprises to organize global and local policies more effectively. If there is a global policy which needs amending to have a slightly different version for a local entity that will address local regulatory requirements. How can you apply these changes without changing anything in the global policy? Now you can create a copy of a global policy that will always contain the latest updates from the original document. This functionality will allow required changes to be applied on top of the original content. Work on this local policy can be assigned to relevant parties from a local entity while keeping control over the update cycle. This allows global compliance teams to work in a new way, completing their assigned tasks more quickly without having to wait for the completion of work as a whole. It also simplifies control over content as users control only their parts of the content."
Anastasia Dokuchaeva, Head of Product at Clausematch "Our customers have challenged us to rethink how to make the process of creating and managing addendums and translations to documents more efficient, where all stakeholders work on their own documents, yet in unison with everyone else. We are proud to deliver this new and innovative approach, and believe it will be a game-changer for our customers. Following the launch of this new product, we are pleased to receive feedback that we have exceeded our clients' expectations, and are excited by the prospect of them being able to maintain all documentation and its variations, synchronized and empowered by technology.”
Document modifications restores absolute and complete synchronization across an organization, aligning all of the changes in global and local documents on a granular level. This functionality reduces the challenges facing organizations that are operating across multiple jurisdictions, and makes it much easier to constantly manage and keep thousands of internal governance documents up-to-date.
Clausematch is planning to enhance and develop modifications as part of the product roadmap. The company plans to release more localization and target version use cases while also adding the possibility to merge content back which is a common scenario for compliance teams.
Clausematch received client feedback regarding the necessity to develop a new feature in January 2021. To recall, the company expanded its operation in the United States in 2020 signing 4 big clients in financial services.
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The company enables commercial and operations teams to automate and launch millions of workflows on its platform with no-code
Creatio, a global vendor of one platform to automate industry workflows and CRM with no-code and a maximum degree of freedom, today announced that it has reached a milestone of 10 million digital workflows launched daily by its customers on the Creatio platform.
With Creatio’s one platform, customers can build and automate workflows of any complexity, including enterprise-wide processes for thousands of users. The IT, operations and business-line teams in a wide range of industries build, tweak and execute an impressive number of workflows using Creatio’s capabilities. The users design and launch custom processes for their use cases and verticals by using a variety of configuration tools. In the meantime, they have full access to hundreds of out-of-the-box templates available through the Marketplace.
Creatio supports design and execution of both structured and fluid workflows. The platform includes adaptive case management tools to automate semi-structured processes. In addition to that, Creatio provides its customers with BPMN-enabled engine to design and execute structured complex processes. The product is focused on no-code configuration, so that the users without deep technical skills can automate enterprise workflows. The platform also offers workflows-centric analytics, dashboards, and reports. By using Creatio’s platform, the customers are able to boost staff’s productivity, better align and engage teams and drive operational excellence.
The company’s offering is consistently recognized by top industry analysts, including Gartner and Forrester. It’s been included in five Gartner Magic Quadrants and seven Forrester Waves.
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Research from BlackLine suggests Finance and Accounting is struggling to keep up with the pace of digital transformation across the wider business
A global survey of C-suite executives and finance professionals commissioned by BlackLine, Inc., a leading provider of financial controls and automation software, has revealed that just 14% of CFOs are confident that their finance function has the skills required to help their organization grow and adapt over the next five years. Furthermore, more than a third (35%) of C-suite respondents believe Finance and Accounting (F&A) is failing to keep up with other areas of the business when it comes to digital transformation.
The survey of 1,150 business leaders and finance professionals (conducted by independent research agency Censuswide across the US, UK, Germany, France, Singapore and Australia) suggests that talent acquisition and retention are high on the C-suite’s agenda as companies seek to implement more aggressive growth strategies post-pandemic. However, it also identifies a major skills gap that threatens F&A’s ability to provide the consultancy, analysis, planning, and due diligence required to support these broader business goals.
New Generation of Talent Critical for Growth
With close to a third (32%) of C-suite respondents saying they are planning to focus more on international markets for growth and acquisitions and a similar number (31%) planning to be more aggressive when it comes to acquisitive growth over the next 12 months, skills will be critical. Many C-suite executives plan to invest heavily in talent with nearly a quarter of these respondents (24%) focusing on developing existing talent from within, and a similar number (23%) on new talent acquisition at a leadership level to drive post-pandemic recovery and growth.
The Finance Challenge
The research showed that skills and talent are particular concerns for CFOs. When asked what their most pressing business concerns are for the next five years, many CFOs (32%) said maintaining a robust balance sheet is their number one priority, but almost the same number said the same of acquiring new talent (30%). This concern is likely being driven by a skills shortage within F&A, something that was acknowledged by most survey respondents, with only a fifth (20%) expressing confidence that F&A currently has the right skillset.
The Post-Pandemic Skills Gap: Need for Talent With Concurrent Tech and Business Skills
When asked about the skills their organization currently has within the finance function, both C-suite executives and finance professionals highlighted a number of vital gaps. More than a third (38%) of respondents said that not everyone in their finance team has the broad business leadership knowledge or skills required today. A similar number (35%) said that not everyone in their finance team has the skills to help with more strategic work (like analysis and planning).
31% of global CFO respondents said they do not currently have enough people with software and technology experience within the finance function. Furthermore, when asked what the biggest challenge is for recruiting future F&A talent, more than a third (36%) of overall respondents noted that it is difficult to find candidates with both technology and F&A skills.
“It’s positive to see that so many companies are now focusing on growth and that business leaders plan to pursue ambitious strategies to make this happen. The global economy is in a period of recovery and it is vital that the finance function, which lies at the heart of business, is appropriately skilled to address the many challenges ahead,” said BlackLine CEO Marc Huffman. “Business leaders must ensure that we retain and develop the people we have and are also in a position to attract the best the market has to offer; but as the survey shows, this can be challenging.”
The Way Forward
Responses suggest there are a number of areas businesses could invest in to help solve this modern-day skills gap, including updating outdated technology or processes. The importance of addressing these issues is clear, with a quarter of respondents (25%) saying legacy technology and processes at their organization make it difficult to attract the best candidates. In fact, legacy technology and processes were seen as more of a challenge for recruitment than being able to offer a competitive salary (19%). Other challenges and opportunities identified include:
- The need to reduce transactional, mundane work. When asked about the biggest negative impact on finance employee retention the top three issues were: a lack of opportunities to develop new skills because transactional work takes up so much time (28%); no time to focus on future career development (26%); and becoming bored with the mundane, repetitive nature of the job (26%).
- Addressing outdated perceptions of F&A roles that make it challenging to recruit good candidates. When asked what stops people from starting a career in F&A, a lack of understanding about F&A’s integral role within the wider business was identified as the main reason by both C-suite execs and finance professionals.
- Revising traditional educational pathways that young F&A candidates tend to follow. 29% of C-suite and F&A professionals believe academic courses need to focus more on technology skills.
Mr. Huffman continued: “Finding people with the right technology and F&A skills seems to be at the heart of the issue. To attract the best and the brightest finance talent moving forward, we must reevaluate tools, training and development, in addition to the perceived role that F&A plays within the business. Delivery of business growth as opposed to purely survival will be dependent upon building a finance function that is as technology literate as it is financially literate. People need to be freed from the mundane and given the space to focus on strategic business insight and value.”
More information, including a detailed whitepaper on the research, can be found here.
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Blockpass is excited to reveal its most recent integration with IDO platform PlayPad. This effort will see Blockpass providing its enhanced solution for KYC, with a dedicated KYC remediation team, multiple reviews per identity, manual checks on selected profiles and spot reviews.
PlayPad is a fully decentralized launchpad protocol in the metaverse which specifically targets Games and NFT centered projects with a 'Tiers' system that aims to create a fairer IDO process. Supporting VR, Gaming & Play2Earn projects in the metaverse, PlayPad offers multi-chain support, working with the Binance Smart Chain and Avalanche ecosystem, in addition to the Ethereum, Polygon, and Phantom networks.
Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users. Currently with more than 200,000 verified user identity profiles, Blockpass facilitates instant onboarding, and to date thousands of businesses have taken advantage of this opportunity to get access to users with reusable digital identity profiles.
"PlayPad has shown how seriously they take regulation and compliance by electing to use Blockpass and the turnkey managed service opportunity." said Adam Vaziri, Blockpass CEO. "It's reassuring to know that the next generation of VR, Gaming and Play2Earn - which represents a significant source of income or entertainment for many - is being developed by those who hold safety, security and identity in high regard."
"It has been very important for us to find the right solution partner since the beginning of our project. Blockpass has taken the security of both us and our members to a high level with the KYC solution it offers in every aspect. All our members who have completed KYC can easily participate in all IGOs on PlayPad. We appreciate Blockpass Team effort." said PlayPad CEO.
Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations have led to a surge in interest for Blockpass' On-chain KYC(TM) solution which promises to change the way blockchains enable compliance. Through its recent work with Animoca Brands, Blockpass is developing the ability to provide KYC where the delivery of the verification result is provably sent and shown on a blockchain without sharing the underlying data. This represents a significant step towards the future Blockpass hopes to bring about where identity verification can be proved without revealing any personal information at all.
Tim Dinsmore
Director at Appurity
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Indranil Bhattacharya
Senior Payments Architect at Icon Solutions
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ControlUp gives employees the freedom and flexibility to access any line-of-business application from anywhere.
ControlUp, the industry leader in Digital Employee Experience management, announced today that it has completed a $100 million funding round, co-led by K1 Investment Management and JVP. This new investment will help drive innovation and partnerships, to give people the flexibility and freedom to work anywhere.
ControlUp helps deliver remote work environments that people can count on. Bringing together the largest and most diverse set of real-time metrics across mission critical SaaS applications, IT teams get a 360-degree view of their entire digital employee experience. Taking less than 10 minutes to deploy and see value, now IT teams are quickly empowered to proactively monitor and improve the health of their systems, gain architectural-level insights, and ensure employees have the freedom and flexibility to access any line-of-business application from anywhere.
“This injection of capital will accelerate our ability to help more enterprises open the door to the limitless possibilities of a simpler, more reliable work-from-anywhere experience,” said Asaf Ganot, CEO and Co-Founder at ControlUp. “We give IT real-time visibility into system status, with the ability to resolve help desk calls faster, and even handle potential system issues before they happen. All this translates to fewer headaches, lower costs, higher productivity, and happier people.”
Around the world people are demanding remote work options because its better. Both managers and team members see increased productivity, improved work satisfaction, and meaningful reductions in attrition rates when they have the freedom to work the way they want. Enterprise IT teams want to deliver a seamless remote work experience, but obsolete systems can’t meet these new requirements. Today, enterprises need a new generation of tools that track in real-time system performance, solve problems faster, and leverage advanced technology like AI and ML to handle potential issues before they happen.
“In the post-COVID-19 era, IT managers of large organizations have the unique challenge of monitoring the performance of the network for each of their employees in the office, at home or in any other remote location,” said Erel Margalit, Founder and Chairman of JVP. “ControlUp provides a deep analysis of mission critical applications—for every employee—highlighting problems and finding remedies to solve them. The company’s dashboard enables IT managers to monitor, assess and improve the productivity for all the employees in the company.”
For over ten years, ControlUp has been working to make remote work simpler and more reliable. ControlUp is used by the largest enterprises to support their hybrid workforces including four of the top five US health insurance companies, five of the top eight US healthcare companies, and four of the top six global telco companies. This past year, ControlUp has seen 50% revenue growth and 67% growth in enterprise accounts, and over 1 Million new seats deployed around the world.
“We continue to see a significant shift toward work-from-anywhere across all industries,” said Roy Liao, Senior Vice President at K1. “K1 is proud to partner with ControlUp as it continues to innovate and change the landscape of the digital employee experience market. By focusing on making the employee experience simpler, faster, and more cost-effective, ControlUp provides a unique value proposition that no other vendor fills.”
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Aerospike for Ad Tech on AWS accelerates and optimises adoption of hyperscale real-time data platforms essential to modern digital advertising
Aerospike Inc. and AWS today unveiled a new advertising technology (Ad Tech) industry solution designed to accelerate and optimise deployments of the Aerospike real-time data platform on Amazon Elastic Compute Cloud (Amazon EC2).
Modern Ad Tech platforms race to buy, sell, and serve hundreds of billions, or even trillions of ads per day to the right customer. Workloads reach tens of millions of read and write events per second at or near petabyte scale. This scale of data use and throughput requires extreme and elastic capacity and predictable, linear, sub-millisecond performance.
The Aerospike real-time data platform enables organisations to act instantly across billions of transactions while reducing server footprint by up to 80 percent. Aerospike for Ad Tech on AWS enables customers to accelerate deployments using an AWS Quick Start guide, reference architectures, customer examples, prescriptive benchmarks, and cloud managed services for Ad Tech companies running Aerospike on Amazon EC2 instances.
“Real-time data use is the lifeblood of digital advertising. Our real-time bidding (RTB) system has millions of ad requests per second, and we need low-latency access to lots of data to accurately respond to each one in milliseconds. If the platform fails to perform, scale or stall, advertisers instantly start losing opportunities and revenue,” said Ram Kumar Rengaswamy, SVP of Engineering at FreeWheel, a Comcast company. “The combination of Aerospike and AWS allowed us to build and optimise for the cloud, delivering an elastic, low-latency, automated and highly reliable real-time data platform that’s managed by just a single engineer.”
Earlier this year, Aerospike unveiled the industry’s first petabyte scale database benchmark. Done in collaboration with AWS and Intel, the benchmark illustrates Aerospike’s sub-millisecond performance at petabyte scale on a remarkably small 20-node cluster—hundreds of nodes less than other databases for a savings of up to $10 million per application.
“Advertising technology businesses continue to see request volumes and throughput requirements soar, challenging infrastructure performance, maintenance and costs,” said Amit Shah, Principal - Product Management, Amazon EC2 at AWS. “As Ad Tech continues to push the limits of petabyte scale and millisecond latency workloads, customers can use this solution for Aerospike on AWS to reduce capital expenditures, innovate faster, and accelerate deployments to get to market faster.”
Customers can subscribe to the Aerospike real-time data platform from the AWS Marketplace, and as part of the AWS ISV Accelerate Program. Amazon’s global field sales will co-sell and support both Aerospike Cloud Managed Services and customer managed environments.
“Real-time and reliable access to data is table stakes in Ad Tech and many other industries. In addition to the scale, speed and reliability of the combined Aerospike and AWS platform, organisations also get the business advantage of being able to use even more data, from the core to the edge, for better real-time decisioning,” said Srini V. Srinivasan, Chief Product Officer and Founder, Aerospike. “As real-time data platforms continue to permeate more industries, companies that select Aerospike and AWS early in their lifecycle can confidently grow their infrastructure with linear performance at any scale without the need for replatforming down the line.”
For more information, please read the AWS technical blog about the solution and listen to the free webinar about how FreeWheel leverages Aerospike for Ad Tech on AWS.
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Ketch, the next generation data control platform for privacy, governance and security, named a Gartner® Cool Vendor in Privacy[1]. Ketch provides granular control over protected consumer data, including data discovery and classification. Ketch also offers end-to-end privacy automation including data subject rights (DSR) fulfillment --ensuring people’s privacy preferences are fully honored across data ecosystems.
In evaluating vendors, Gartner notes that: “Digital transformations and continued adoption of cloud services mean that personal data is processed in more locations than ever. It is imperative that organizations automate data discovery and governance functionalities in order to better protect personal data throughout the data life cycle.”
To help with this challenge, Ketch automates the discovery of personal data across a company’s data systems, and uses machine learning to classify and label data (e.g. personal, sensitive, and social security number, address, etc.). Through a central policy center, Ketch customers can articulate and enforce policies for access, security and privacy on data wherever it lies.
“Companies need an automated, scalable way to discover, classify, and inventory data for their privacy and data governance programs,” explained Tom Chavez, Founder and CEO of Ketch. “We believe that Gartner nailed the challenge succinctly: it’s not feasible for any company to comply with globally expanding regulations with a manual approach. We built Ketch to provide a programmatic approach to privacy, to help companies respect and honor people’s privacy rights, while responsibly using data to grow.”
To book a virtual demo with a Ketch expert today, visit: https://www.ketch.com/request-a-demo.
