Q2 Holdings said on Wednesday (May 15) that it has launched Q2 TrustView, billed as technology for data governance and protection focused on banking and lending.
The company said in a press release that Q2 TrustView is powered by ALTR, a blockchain-based data security provider, and that the solution is an enhancement to Q2’s multi-layered data management and protection approach, which controls individuals’ access to data. The company added that Q2 TrustView delivers “detailed data intelligence and reporting, and protects critical data assets at rest.”
Q2 Holdings cited research from Javelin Strategy & Research that has shown “retail banks will increasingly view privacy as more than just a regulatory hurdle.” Safe and compliant storage of information has become ever more critical, said the firm.
The new offering mitigates breaches in real time, and fragments personally identifiable information across a private, low-latency blockchain network.
“By leveraging the append-only architecture inherent in blockchain technology, Q2 TrustView also provides a comprehensive, immutable view of who accesses valuable data, when they access it and how often,” the firm said.
The ALTR platform is integrated as a core technology within Q2 TrustView, the companies said. ALTR, for its part, is stated as the developer of the first software solution designed to harness blockchain’s virtually inviolable structure and apply it to data security.
“Great financial experiences are built on a foundational confidence and trust that an account holder’s data will be protected,” said Adam Blue, CTO at Q2. “With Q2 TrustView, we are strengthening our data management approach to ensure that protections are in place for our customers and their users at every step of the data journey.”