April 20, 2022
FiVerity, a US-based provider of digital fraud prevention solutions, Fortanix, a data-first multi-cloud security company, have brought Confidential Computing to financial services to address digital identity fraud.
FiVerity’s fraud defence platform will now employ the latest in data privacy technology to revolutionise digital fraud defences among banks and financial institutions, giving users a new level of security and control over the personally identifiable information (PII) used to analyse and detect fraud.
By employing Confidential Computing, FiVerity focuses on the challenge of securing private information while it is in use during digital fraud detection. The FiVerity solution relies on Intel Software Guard Extensions to provide financial institutions with a new level of protection for sensitive customer data, and improved control over its access.
Fortanix enables FiVerity’s platform to run within Confidential Computing environments, verifies the integrity of those environments, and manages the SGX application lifecycle. This combined platform enables financial institutions to analyse intelligence on fraud activity without exposing PII, keeping banks in compliance with security and privacy requirements and reducing their exposure to digital fraud.