Omnisient, the privacy-preserving data collaboration platform company protecting the privacy of over 150 million consumers, was selected as one of the three finalists for the IAPP’s 2023 Privacy Innovation Awards – EMEA / APAC region.
Based in Cape Town, South Africa, Omnisient was selected as the only finalist representing African innovation in privacy out of nearly 75 international entries.
Omnisient enables over 80 large organisations in Africa and the Middle East to analyse, extract insights and build predictive models from each other’s consumer data while protecting consumer privacy and complying with global privacy regulations. Consumer data is never exchanged nor is consumers’ personal information ever shared.
The ability to share consumer data while protecting consumer privacy enables businesses to draw insights on consumer behaviour that deliver positive results for business, individuals and greater society. Case in point is the collaboration between banks and retailers to predict repayment of a loan based on credit applicants’ shopping behaviour, which has enabled South African banks to qualify 3.2 million consumers for credit who would have previously been declined due to lack of a credit history.
“It’s incredible recognition to have been selected as one of the three Privacy Innovation award finalists by members of the world’s largest global community of privacy professionals,” said Jon Jacobson, CEO and co-founder of Omnisient. “It further validates our platform’s ability to protect consumer privacy and create customer trust through use of our platform for data collaborations.”
The winner for the EMEA/APAC region is EU Cloud Code of Conduct and SCOPE Europe, for the joint development of the Third Country Transfers Module, developed in response to challenges surrounding international data transfers to make sure that when personal data is sent from the EU to other countries, it is still protected according to the high standards of the GDPR.