May 2024
Verifoxx, an innovator in privacy enhancing technologies (PETs), has been selected to participate in the Financial Conduct Authority (FCA) Digital Sandbox. This initiative provides pioneering firms with access to synthetic financial data and regulatory insights to develop and test innovative solutions.
As financial institutions face increasing challenges in secure data collaboration, Verifoxx will leverage the FCA Digital Sandbox to demonstrate how organizations can collaborate on sensitive data without exposing it. By using advanced PETs, the company aims to improve financial crime detection, regulatory compliance, and secure data sharing across the financial sector.
"Data privacy and security are critical concerns in financial services. Being part of the FCA Digital Sandbox gives us a unique opportunity to showcase how PETs can enable secure collaboration between financial institutions while maintaining compliance with regulations,” said Roisin McCarthy, CEO of Verifoxx.
The FCA Digital Sandbox is designed to support innovation in fraud prevention, financial crime mitigation, and regulatory technology. Verifoxx’s participation underscores its commitment to advancing secure and privacy-first solutions in highly regulated environments. For more information about the FCA Digital Sandbox, visit FCA Digital Sandbox. Notes to Editors: For media inquiries, interviews, or further details, please contact: PR@verifoxx.com
About Verifoxx:
Verifoxx is a UK-based company specializing in privacy-enhancing technologies (PETs) that enable organizations to collaborate on data without it ever leaving its owner. By enabling secure and compliant data collaboration, Verifoxx helps businesses innovate, share, and analyze sensitive information with confidence. Our mission is to ensure that privacy is a tool for progress, not a barrier, empowering industries to harness data securely while meeting regulatory requirements.
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