In today’s whirlwind digital world, safeguarding data and staying compliant isn’t just important—it’s absolutely crucial, especially for Health Tech and FinTech organisations. The stakes are enormous. Picture this: a data breach in the Health Tech sector can cost a jaw-dropping $10 million USD, while in FinTech, it hovers around $6 million USD, not even counting possible fines. Enter Ziroh Labs’ Zunu Encryption as a Service (EaaS), a game-changer with its fully homomorphic encryption, enabling businesses to store, transport, and process data without ever decrypting it. Let’s dive into how Zunu EaaS tackles the rigorous compliance demands of these industries.
Health Tech Sector: Navigating HIPAA Compliance with Zunu EaaS
When it comes to protecting sensitive patient information, Health Tech companies must comply with the rigorous standards set by the Health Insurance Portability and Accountability Act (HIPAA). Implementing robust safeguards to secure electronic protected health information (ePHI) is a must. Here’s how Zunu EaaS addresses key HIPAA requirements:
Technical Safeguards
- Access Control: Imagine your ePHI wrapped in a secure, encrypted vault. Zunu EaaS ensures only authorized users can access this data, drastically reducing unauthorised access and potential breaches.
- Audit Controls: Although Zunu EaaS’s primary focus is encryption, it seamlessly integrates with audit control systems, logging and monitoring access to ePHI to detect and respond to unauthorised activities.
- Integrity Controls: Fully homomorphic encryption guarantees that data remains unaltered and secure during processing, preserving the integrity of ePHI.
- Transmission Security: With Zunu EaaS, data stays encrypted during transmission, shielding ePHI from interception during electronic exchanges.
Administrative Safeguards
- Security Management: Zunu EaaS is a cornerstone of a robust security management process, addressing risk assessments and reducing vulnerabilities associated with ePHI.
- Incident Response: Encrypting data with Zunu EaaS helps prevent breaches and supports quick, effective incident response plans.
Privacy Rule Compliance
- Use and Disclosure: Zunu EaaS ensures PHI is securely encrypted, curbing unauthorized use and disclosure, and supporting compliance with the HIPAA Privacy Rule.
Breach Notification Rule
- Breach Prevention: Robust encryption from Zunu EaaS dramatically lowers the risk of data breaches, potentially qualifying as a safe harbor under HIPAA, and minimizing breach notification requirements.
FinTech Sector: Meeting Major Compliance Standards with Zunu EaaS
The FinTech industry faces stringent regulations like the Payment Card Industry Data Security Standard (PCI DSS) and the General Data Protection Regulation (GDPR). Here’s how Zunu EaaS helps FinTech companies stay compliant:
PCI DSS Compliance
- Encryption of Cardholder Data: Zunu EaaS provides end-to-end encryption for cardholder data, ensuring it remains secure during storage, transmission, and processing.
- Access Control and Monitoring: By encrypting data, Zunu EaaS supports strict access control measures and integrates with monitoring systems to track and log access, aiding PCI DSS compliance.
GDPR Compliance
- Data Protection by Design: Zunu EaaS supports GDPR’s mandate for data protection by design, ensuring personal data is encrypted throughout its lifecycle.
- Data Minimization and Security: FHE lets FinTech companies process encrypted data, aligning with GDPR’s minimisation and security rules.
- Breach Notification: Under GDPR, encryption can lessen breach impacts and ease notification requirements, enhancing compliance.
Other Regulatory Requirements
- SOX Compliance: Zunu EaaS ensures financial data security, aiding SOX compliance with internal control mandates.
- FFIEC Guidelines: The Federal Financial Institutions Examination Council (FFIEC) stresses strong data encryption practices. Zunu EaaS aligns perfectly with these guidelines, bolstering data security for financial institutions.
Conclusion
Zunu EaaS stands out as a beacon of innovation for Health Tech and FinTech companies grappling with complex compliance challenges. It leverages FHE to keep data encrypted during storage, transport, and processing, ensuring security and compliance. Zunu EaaS is vital for compliance and data integrity in regulated sectors as the digital world evolves.
Imagine a world where your business data is always secure and risk-free. Discover how Zunu EaaS can revolutionize your data security strategy. Contact us today to learn more and schedule a demo.
Contact Us:
📧 Email: sales@ziroh.com
🌐 Website: enterprise.ziroh.com
Join us on the journey to the future of enterprise data security with Zunu EaaS. With our tailored solutions, we can keep your enterprise data private and secure.
