Tag: data protection

Data Privacy

Addressing Data Privacy Concerns with Face Match API

Posted on | by Signzian

Financial institutions and organizations worldwide face an uphill battle regarding fraud prevention. With fraudsters’ ever-evolving tactics, traditional identification verification methods aren’t sufficient. The consequences of falling victim to fraud can be devastating for the institutions and their customers, who entrust them with sensitive personal information.

This is where Signzy’s Face-Match API steps in as a game-changer. By harnessing the power of facial recognition technology, we offer a robust solution to combat fraud effectively.

With our solution, financial institutions can perform identity verification effortlessly and accurately. By comparing a user’s live image with their stored reference image, any discrepancies or signs of fraudulent activity can be swiftly detected. This revolutionary tool provides an added layer of security that significantly reduces the risk associated with fraudulent transactions.

Our face-match technology goes beyond verifying identities; it also helps streamline customer onboarding processes by eliminating manual interventions and reducing human error. This enables organizations to enhance operational efficiency while maintaining stringent compliance standards.

However, it is understandable that users and businesses would be wary of how their data is handled. In this article, learn more about how Signzy protects data from falling into the wrong hands.

The ongoing concerns around data privacy

Data privacy is a pressing concern in today’s digital age, where personal information is constantly shared and stored online. Addressing these concerns becomes even more crucial with the increasing use of facial recognition technology and identity verification systems.

One major worry is the potential misuse or unauthorized access to sensitive data. As financial institutions and organizations collect vast amounts of personal information for fraud detection and compliance purposes, individuals are rightfully concerned about how their data will be protected.

Another concern revolves around consent management. Individuals want assurance that their consent is sought before their data is used. They also expect transparency regarding what type of data will be collected, how long it will be retained, and who will have access to it.

Signzy takes data privacy and compliance seriously. Addressing concerns around data privacy requires a comprehensive approach involving transparency in consent management practices and stringent security protocols. Only then can individuals feel confident in entrusting their personal information to organizations.

Is Signzy’s Face-Match API Secure?

Yes. Signzy takes data privacy and compliance seriously, ensuring our facial recognition technology is secure. We have implemented advanced security protocols to protect user data from unauthorized access and hacking. Our face-match technology is also verified and certified by leading security agencies.

Regarding the security of personal data, organizations and individuals alike have valid concerns. With the rise in fraudulent activities, financial institutions and organizations must implement robust measures to combat fraud effectively. Signzy’s Face-Match API offers a secure solution for identity verification through facial recognition technology. But what sets it apart from other solutions? The answer lies in its commitment to data privacy and compliance.

One primary concern surrounding facial recognition technology is the potential misuse of personal data. However, we address this concern by implementing stringent security protocols that ensure data protection at all process stages.

From capturing and storing images securely to encrypting sensitive information, Signzy goes above and beyond industry standards to safeguard user data. Additionally, our face-match algorithm uses advanced machine-learning techniques that are continually updated to stay ahead of evolving threats.

The need for transparency when it comes to data privacy

The need for transparency regarding data privacy is of utmost importance in today’s digital age. With the increasing amount of personal information being shared online, individuals and organizations are rightfully concerned about who has access to their data and how it is used.

In the context of facial recognition technology and identity verification, transparency becomes even more crucial. Users want to know that their biometric data is handled securely and responsibly. They want assurance that their face images are not stored or shared without consent.

At Signzy, we understand these concerns and prioritize data privacy above all else. We strive to be transparent with our users by clearly explaining how our Face-Match API works and what measures we have to protect their data.

We ensure transparency through clear communication about the purpose for which users’ facial images are collected. We always obtain explicit user consent before storing or processing any biometric data.

Additionally, we use advanced security protocols to safeguard the confidentiality and integrity of user data.

To safeguard user information, our Face-Match API employs industry-leading encryption algorithms. This ensures that all data transmitted between users and our platform is securely encrypted, making it nearly impossible for unauthorized individuals to access or manipulate it.

In addition to encryption, we also implement strict access controls. Only authorized personnel are granted access to user data; even then, they only have permission for specific purposes within their job responsibilities. This helps prevent any potential misuse or mishandling of sensitive information.

Furthermore, we regularly update and monitor our systems for any vulnerabilities or threats. Our dedicated team monitors and promptly addresses emerging security risks with necessary patches or updates.

By implementing these rigorous security protocols and comprehensive data and consent management practices, Signzy prioritizes safeguarding customer privacy throughout identity verification.

Signzy supports data protection and digital privacy

Data privacy is a fundamental right that every individual deserves. With increasing instances of online breaches and unauthorized access to personal information, it has become imperative for organizations to prioritize protecting sensitive data. Signzy recognizes this need and proactively safeguards user confidentiality through encryption techniques and strict access controls.

With technological advancements like Signzy’s Face-Match API and our unwavering commitment towards transparency and protection of user data privacy rights, financial institutions can rest easy knowing that client information remains safe.

What’s All The Fuss About The Digital Personal Data Protection Bill 2022?

Posted on | by Signzian

The Ministry of Electronics and IT(MeitY) has released the Digital Personal Data Protection Bill 2022, and the government is currently seeking public feedback and consultations. The measure is intended to lay out the procedures and guidelines for data collecting for businesses and the rights and obligations of “digital nagriks,” or citizens.

The measure also establishes severe penalties for breaking any law’s rules, and the Data Protection Board of India—which the new law has set up—will make these determinations. However, board orders may be contested in a High Court.

 

The Data Protection Bill Focuses On Seven Fundamental Principles

The Bill’s explanatory note states that it is founded on seven principles. The first is that organizations must use personal data in a way that is legitimate, fair to the individuals involved, and transparent to individuals.  The second principle states that personal data must only be used for the purposes for which it was collected. The third principle discusses data minimization, while the fourth principle emphasizes data accuracy when it comes to collection.

The fifth principle states that personal information cannot be stored perpetually by default and should only be kept for a specific time. According to the sixth principle, there should be enough protections to guarantee that no unauthorized collection or use of personal data occurs.

Seventh principle: The person who determines the nature, scope, and means of personal processing data shall be liable for such processing.

 

Defining Definitions- What Data Principal And Data Fiduciary Implies

The person whose data is being gathered is referred to throughout the Bill as the “Data Principal.”

The purpose and means of processing an individual’s data are determined by the “Data Fiduciary,” which may be a person, business, government agency, or other entity.

The law also acknowledges that parents or legal guardians will be regarded as children’s Data Principals in cases where they are children, defined as all users under 18.

According to the law, all data by or in connection to which an individual can be identified is considered personal data. Processing is the full range of processes that may be applied to personal data. According to the Bill, data processing would include data collection and storage.

The measure also guarantees that people should have access to essential information in the languages included in the Indian Constitution’s eighth schedule. Furthermore, the Bill stipulates that consent must be obtained from the subject before their data is processed and that each individual should be aware of the specific personal data that a Data Fiduciary wishes to collect and the purposes for such collection and further processing.

Additionally, the notification of data collection must be written in language that is both explicit and understandable. Additionally, people can revoke their consent from a data fiduciary.

 

Two Rights Of Action- The Rights To Erase Data And To Nominate

Data principals can request the deletion and updating of data that the data fiduciary has acquired. If the data principal passes away or becomes incapable, they can also designate a person to act on their behalf.

The measure also grants customers the ability to protest to the Data Protection Board about a Data Fiduciary if they do not receive a sufficient response from the business.

 

What Are The Relevant Data Fiduciaries In Data Protection?

Furthermore, the Bill refers to Significant Data Fiduciaries, who handle a sizable amount of personal data. The Central government will decide who falls under this group based on various considerations, including the amount of personal data collected, the risk of harm, and the potential impact on India’s sovereignty and integrity.

The Bill’s explanatory note states that this category must fulfill additional duties to permit wider scrutiny of its actions.

Such organizations will be required to designate a “Data protection officer” to act on their behalf. They will serve as the focal point for grievance redress. They must also choose an impartial data auditor to assess their compliance with the statute.

 

Financial Punishments And Penalties

The draught also suggests that businesses that experience data breaches or fail to notify customers when breaches occur face harsh penalties. Entities that do not implement “reasonable security safeguards” to prevent personal data violations could face fines of Rs 250 crore.

 

Data Protection For Data Transfer Across International Borders

The measure also permits storing and transferring data across international borders to certain notified countries and territories. 

The memo further states that the Central Government would consider essential criteria before such notification.

Bottomline

The government may also exempt specific enterprises from complying with the Bill’s provisions based on the number of users and the volume of personal data collected by the firm. When doing this, the national startups that complained that the prior version of the Bill was compliance intensive have been taken into account.

 

About Signzy

Signzy is a market-leading platform redefining the speed, accuracy, and experience of how financial institutions are onboarding customers and businesses – using the digital medium. The company’s award-winning no-code GO platform delivers seamless, end-to-end, and multi-channel onboarding journeys while offering customizable workflows. In addition, it gives these players access to an aggregated marketplace of 240+ bespoke APIs that can be easily added to any workflow with simple widgets.

Signzy is enabling ten million+ end customer and business onboarding every month at a success rate of 99% while reducing the speed to market from 6 months to 3-4 weeks. It works with over 240+ FIs globally, including the 4 largest banks in India, a Top 3 acquiring Bank in the US, and has a robust global partnership with Mastercard and Microsoft. The company’s product team is based out of Bengaluru and has a strong presence in Mumbai, New York, and Dubai.

 

Visit www.signzy.com for more information about us.

You can reach out to our team at reachout@signzy.com.

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