Build Trust With Risk-Free Customer Data Management Platform

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5 min Read   |  Published: Tue Jun 2 2020
In our data-led world, building trust is quickly becoming the most crucial component for business success. Trust with customers. Trust with regulators. In fact, both come hand in hand. Building trust is all about managing customer data the right way – but this isn’t easy.
Build Trust With Risk-Free Customer Data Management Platform

Up until recently, many organisations did what they wanted with their customers’ data. But that time is over. The new normal has thrown up a pandora’s box of complex challenges and risks for organisations suddenly having to think differently about customer data and how they handle it – this includes getting to grips with what data they hold, where they hold it, when it was collected, and for what purpose.

At Trunomi, we have taken a unique approach to developing customer data management Platform. We do not need to see, store or make a copy of any data. Our patented technology removes the main risks associated with customer data management, by giving organisations a global view of all the customer data they store while keeping that data safe, secure, and private always. In fact, it’s risk-free. In this blog we explain why.

The new normal of customer data

So, what exactly has changed? What does the new normal look like? Well, two things that have changed:

  1. Customers care what you do with their data

    First, a significant shift in mindset towards privacy and data protection in wider society – consumers care about what companies do with their data. This is forcing organisations to make a big shift too. Traditionally, a CEO’s priorities were simply profit and growth. Now it is about corporate social responsibility (CSR). If an organisation wants to succeed it needs to be actively looking out for its customers and contributing positively to the community.

    When it comes to customer data, trust is crucial – you need your customers to trust you have their best interests at heart and that their data is safe in your hands. Customers care, and you need to win their trust if you are going to keep their business – the truth is that profit and growth will suffer without it.

  2. New data protection laws

    The second big change is the legal implementation of what we have just described. This can be seen by the recent and ongoing introduction of data protection regulations across the globe. Think of the GDPR in Europe, the LGPD in Brazil, and the CCPA in California to name a few – no doubt more will follow. Not only do you risk losing your customer base by failing to take data protection seriously, but serious fines wait for failing to comply with these new regulations. Large organisations earn enough revenue to dismiss these fines as a minor inconvenience, but the reputational cost will be much harder to sweep under the carpet. Today, trust is everything.

What’s more, these changes have been swift and seismic, leaving some organisations scrambling to adapt.

We can help by introducing our customer data management software. Trunomi addresses the issues around global data security, privacy and protection in a risk-free way. We can help you protect customer data, comply with data protection laws and, ultimately, build trust.

A risk-free approach with Trunomi

Baker McKenzie, the international legal firm, analysed the Trunomi platform to assess the risks of falling foul of several data protections laws around the world. The conclusion was that Trunomi is risk-free. Baker McKenzie referred to our customer data management software as a “highly privacy-protective system”.

Here’s why:

  • Trunomi does not collect, store or disclose any personal data in relation to your customers.
  • Trunomi does not require you to transfer or disclose or make a copy of any personal data for the Trunomi platform to work.
  • Using our patented TruCert and TruID technology, all relevant information about personal data is automatically recorded and cross referenced with the relevant laws of any jurisdiction.

How our customer data management software works

Only metadata passes through the Trunomi platform, in the form of TruCert™ records and TruIDs, which are cryptographically hashed to National Security Agency (NSA) standards. This means we don’t see, process, or have any access to your sensitive personal data.

This is achieved through a two-step process:

  • TruID – A TruID is created for each of your customers that you are proposing to retain data on. This is a unique identifier and is subjected to a strong cryptographic hashing process (irreversible in fact). Importantly, this process is undertaken by the customer on a "black box" basis, meaning that Trunomi does not see, store or collect any of the underlying source data or have any means by which it could identify the individual.
  • TruCert – A TruCert is created for each relevant item and event that is processed through the Trunomi platform and is associated with a TruID – for example when a customer gives consent to receive a weekly newsletter. As with the TruID, TruCerts are also subjected to a cryptographic hashing process. TruCerts relating to a customer are then attached or associated with the TruID for that customer through the Trunomi platform.

This process is risk-free because customer data is not personally identifiable. Even if Trunomi was hacked, the data can be traced back only to a TruID, and no identifiable data would be obtainable.

What’s more, this applies and is maintained across all jurisdictions. For instance, data practices must be compliant under the jurisdiction the data was collected in, the jurisdiction the company is based in, as well as wherever the person it was collected from was a citizen in. It must also be compliant under the local laws of whatever country any data is moved into.

So, in a world where trust is paramount, you can trust Trunomi to help you manage customer data.

To find out more about how our customer data management software can help you get a handle on past, present and future data challenges, get in touch with the Trunomi team today.

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