Skyflow Fintech Privacy Vault Accelerates Product Development for Software Teams

Skyflow announced a new Zero Trust data privacy vault that enables software teams to build and deliver next-generation financial systems and applications faster. The new Fintech Privacy Vault eliminates data security, privacy and compliance concerns associated with personal identity and financial data.

The vault is delivered as a simple API and supports a wide range of financial services workflows and compliance requirements including money movements, customer onboarding, management customer data, card issuance and acceptance. Its fintech ecosystem integration features also ensure that data can be securely connected to key third parties such as Visa, Plaid, Stripe or Alloy for secure and authorized uses.

“When fintechs create workflows that deal with highly sensitive data, they must ensure that the data is protected from breaches and attacks, complies with all relevant regulations, and used only in a way that preserves user privacy. “said Anshu Sharma, CEO of Skyflow. “This important job is a huge time saver for developers and compliance is never a sure thing. Instead, developers can implement state-of-the-art privacy infrastructure through a simple API and focus their time on customer-centric features that drive value and usage.

Every fintech company today builds systems and workflows for one or more of these key functions:

  • Onboarding new users
  • Identity verification
  • KYC and AML compliance
  • Payments
  • Card issuance
  • Card acceptance
  • Account opening
  • Customer data management
  • Cryptocurrency integrations

“With pre-built integrations to customer integration and card issuance services, Skyflow saves us a lot of time by completely isolating our environment from all PCI data,” said Alok Prasad, CEO of CashRepublic. “It’s amazing what we can get out of a simple API. “

Skyflow’s new Fintech Data Privacy Vault provides a robust and elegant solution, delivered through a simple API. Fintech Vault builds on the foundation of Skyflow’s first-ever payments-focused financial services offering – Skyflow Payments Vault – and now adds support for a broader set of flows sector work. Skyflow’s key innovations and features that make it easy to create these PII and PCI workflows while ensuring data privacy and security include:

  • New client-side SDKs for iOS, Android, and JavaScript built around Skyflow Elements, special APIs that facilitate the secure collection and tokenization of sensitive data from mobile or web apps.
  • Prebuilt integrations with major service providers in the fintech ecosystem, including new and improved integrations with Alloy, Plaid, Visa, Moov, Mulesoft, Experian, Stripe, and Paystand.
  • An easy way for developers to create their own custom connections to any internal or external service they need, including KYC and Identity Verification services, credit bureaus, card networks, and more.

In addition, Skyflow’s unique governance engine enables precise data access controls, so that data can be used in a carefully controlled and fully auditable manner. Skyflow’s global deployability and isolated VPC data architecture make it easy and efficient to meet data residency requirements and comply with laws such as GDPR.

A safe solves many problems

The Data Privacy Vault approach provides a complete solution, addressing all of the major challenges associated with PCI and PII data privacy, including:

  • Compliance
  • Data security
  • Data governance
  • Data residency
  • Secure data sharing
  • Secure analysis
  • Encryption / Tokenization

Delivered via a simple REST API, Skyflow can be deployed in a few hours or days.

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