Verifoxx

We will be presenting at the Financial Conduct Authority Autumn Showcase next Monday 4th November, where we will be giving a demo on our financial intelligence sharing solution to help combat #fincrime such as money laundering and fraud using #privacyenhancingtechnologies. We're looking forward to making new connections, hearing the other pitches and getting on stage to showcase our own! 📢

We've been featured in the latest report from TechUK! This report focuses on the strength of Tech SMEs to the UK economy while outlining the key challenges we face. We spent time talking to TechUK about our own journey, highlighting that although public funding has step changed our journey, there is a large gap in terms of finding that same public support in commercialising our innovative technologies. #SMEs #Techinnovation

We are so happy to announce that we are one of the winners of Fintech Scotland's FRIL innovation call. This call focused on the data challenges that exist within ESG in Financial Services, and the solution that we pitched demonstrated the potential for our #privacyenhancingtechnologies to unlock more high quality, verified data from investee or borrower companies. To work alongside and pitch to some of the UK's leading financial institutions was a huge privilege. We will be using the funding to add an ESG twist to our existing product to make the tracking of financed emissions easier - we look forward to our continued collaboration with our FRIL industry partners. Congratulations to our fellow awardees: Scottlogic, siccar, ESG360° CienDos, ESG Disclose, GaiaLens and TEXpert AI . Really proud to be among this stellar list of fintech's that are spearheading innovation, and change, in the drive to net zero. A huge thank you to the FRIL team for giving us this opportunity and the endless enthusiasm and energy from Trish Quinn and Giovanna Cucchi on the days we needed it the most! University of Strathclyde University of Glasgow Adam Smith Business School

It was an amazing moment for us recently to present our solution at the Guildhall in London. We were invited by the City of London to demonstrate how we've used some amazing synthetic data, made available to us as part of the FCA's Digital Sandbox, to build a prototype that enables banks to share financial intelligence, without exposing each other's data. #privacyenhancingtechnologies #datasharing

📢 🌟 Privacy-Enhancing Technologies: A Top Emerging Technology of 2024 🌟 In the last 18 months, we have seen a lot of movement globally from government and authorities, such as the UN, the White House and the ICO, starting to recognise the benefits of Privacy-Enhancing Technologies. And this week - we can add The World Economic Forum to that list! Over 2,000 innovation experts worldwide compiled the list. 📌 The World Economic Forum has ranked Privacy-Enhancing Technologies (PETs) as the 2nd most important emerging technology of 2024 because of the transformative way that PETs handle data 🥈 - PETs allow data collaboration and data sharing, without compromising the data's security. The data stays with its owners, where it should 🛡 Read the full list here: https://lnkd.in/e9qfH9Mz #WEF2024 #Privacyenhancingtechnologies #emergingtech

💼🌐 TechUK, alongside few fellow non-governmental members of Smart Data council have endorsed the UK Government's groundbreaking Smart Data Roadmap. 🌐🚀 Let's explore the exciting journey ahead!. 🔍 Smart Data, defined by the Department for Business & Trade (DBT), is the secure sharing of customer data with Authorised Third Parties (ATPs) upon request, These parties then use the data to offer innovative services, such as fraud prevention  💼 Smart Data transforms data sharing for businesses, facilitating seamless insight exchange, fostering collaboration, innovation, and informed decision-making. It also strengthens defences against fraud and cyber threats while ensuring regulatory compliance and safeguarding data integrity and customer trust. TechUK seeks to lead the development of a trusted Smart Data economy, designed to safeguard and empower individuals, communities, businesses, government, and society, both at home and abroad. 🌍✨ TechUK eagerly looks forward to backing the roadmap's effective implementation and evolution, concentrating on two key missions. 📈🛣️ 🎯 Mission 1: By 2024Q2, create a plan for Smart Data roadmap implementation to connect sectors and maximise combined datasets. 🎯 Mission 2: By 2024Q3, develop a governance plan and roadmap for Smart Data schemes, prioritising interoperability and supporting national demonstrator programs. At Verifoxx, we're excited about initiatives like this, recognizing smart data's potential to drive innovation and privacy-conscious practices. We appreciate TechUK and the UK Government's commitment to a data-driven economy that not only empowers individuals and businesses but also prioritises data privacy and security 🌐🔐 #SmartData #PrivacyProtection #DataDrivenEconomy #techUK To know more 👉 https://lnkd.in/e-ns_JM8 https://lnkd.in/e6YRD8Gc

🎊 We are thrilled to see that the US has passed new legislation on Privacy Enhancing Technologies. This is the first time a government has legislated for their research and investigation in protecting citizen's personal information. The legislation is called the Privacy Enhancing Technologies Research Act and paves the way for different US agencies to research and understand how different PETs can anonymise, protect and mitigate privacy risks during the storage or sharing of personal data, including children's data. The act is described as bringing the US "one step closer to ensuring that no American’s data is exploited online". Exciting to see PETs being recognised for the advancements they can bring 👏 #privacyenhancingtechnologies

🚀 Exciting News on the Application of PETs in Age Verification! 🚀 The Open Technology Institute (OTI) has shared some compelling recommendations in their latest report. They emphasize the importance of using #PrivacyEnhancingTechnologies (PETs) for age verification, as opposed to other age assurance methods including age estimation techniques. Why does this matter? 🤔 In simple terms, age verification processes are becoming more common, especially in platforms requiring age-appropriate content control. However, how to verify someone's age can significantly impact user privacy and data security, because personal data gets exposed, right? Wrong! One of the OTI's key recommendations states that Zero Knowledge Proofs, one type of Privacy Enhancing Technology, show that privacy-respecting age verification is possible by offering a more secure and privacy-friendly way of confirming someone's age without necessarily revealing any additional personal information. It’s like confirming you're old enough to view a film without having to show your entire ID card. On the other hand, age estimation techniques, which often rely on biometric data (like facial recognition), may introduce unintended privacy concerns. While they might seem efficient, they could potentially expose users to unnecessary data collection or misuse. 📢 As a startup specialising in PETS, it's crucial we are part of the education effort about PETS and the huge benefits they can bring to both businesses (who need to verify their users) and society (by preserving data privacy). 💡 The OTI's recommendations could pave the way for more privacy-conscious age verification methods, setting a standard for the industry. 👋 If you need to verify the age of your users in your store, your app or your website and want to learn more about why PETs make sense, drop us a comment below saying "Interested". Read the full article here: https://lnkd.in/eP4Yf5KM #PrivacyEnhancingTechnologies #AgeVerification

🌟 Code Pioneered in UK Forces Tech Firms to Implement Safety Changes 🌟 The UK's pioneering Children's Code is reshaping the digital landscape, mandating tech giants to prioritise the protection of young users. 💪 Research reveals that nearly 100 changes have been made across major social media platforms, ensuring that youngsters only access age-appropriate content. 📱💻 Championed by The Telegraph as part of its Duty of Care campaign and introduced under the 2018 Data Protection Act, the Children’s Code holds tech firms accountable, with fines of up to four percent of their global turnover for non-compliance. States across the US, including California, and countries like the Netherlands, Ireland, Sweden, Canada, and Australia have also embraced similar measures, recognising the importance of safeguarding digital natives. 🌍  From TikTok implementing curfews on push notifications for teens to Instagram refining content filters, these changes mark a significant milestone in creating a safer online space. 👨👩👧👦💻 #ChildrensCode #OnlineSafety #ageappropriatedesign #ageverification Find out more 👉 https://lnkd.in/ePhxCPSi