Gospel Technology, a leader in business focused enterprise Blockchain solutions, enabling trusted data collaboration and inter-enterprise data governance, has announced that it is working with NGA Human Resources to secure PII data of its employees and clients.
NGA HR’s products and services innovation team has been piloting Gospel Technology’s Enterprise Secure Data Platform, with a view to integrating this into its architecture to further strengthen its chain of data trust.
This first project, which will continue to run until March, enables the proof-of-value (PoV) to be established by NGA HR, with the potential to add the platform as the unprecedented infrastructure layer of data access and security to NGA HR’s BPO payroll services.
In July 2018, Ponemon Institute LLC published an update to its ‘Cost of a Data Breach Study’, highlighting continual growth in the costs associated with data breach incidents. Respondents to the study are incurring an average cost of US$3.86 million per breach, coupled with a 27.9% likelihood of a recurring material breach over the next two years.
“The risks of a data breach can be very costly, if not financially catastrophic for an organisation that fails to protect the data they manage. At NGA HR, we believe that traditional methods of data encryption and reactive security solutions don’t meet today’s requirement.
“We believe that Blockchain offers very secure encryption of data with the added advantage of giving the people whose data is being managed much more consensus control over it,” said Stuart Curley, CTO at NGA Human Resources.
In response Reuben Thompson, VP Technology at Gospel Technology highlighted: “In today’s world of complex compliance challenges and myriad of threats to data security, there’s a huge competitive advantage to companies adopting cutting edge technology like that which we’re building here at Gospel Technology.”
The trust layer architected within the Gospel Technology solution will address the requirements of a growing number of organisations already stipulating unlimited liability for data breaches from data controllers and processors in their supply chains. Andy Monshaw CEO of NGA Human Resources, predicts this requirement will steadily rise in 2019.
“We are really excited by this partnership with NGA HR and believe the results will demonstrate the business efficiencies, operating cost reductions and future proofing that the Gospel Technology solution brings to the business world. The engagement with NGA HR moves Blockchain into enterprise use and demonstrates the real-world capability of the technology across differing vertical markets and use cases,” added Ian Smith, CEO and Founder Gospel Technology.
Built using its own consensus driven distributed ledger (Blockchain) technology, the Gospel Technology Enterprise Secure Data Platform ensures contextual access to Personal Identifiable Information (PII). Data can only be accessed by people authorised to view it and only in the context of the relevant fields of information required to complete a process.
This is proven to increase service efficiencies and reduce the possibility of human error. NGA HR is also looking at how this can enhance the experience of employees, in particularly those in heavy volume data processing roles, such as help desks and call centres.
“[Gospel Technology] puts NGA HR back in control of our data. We can decide who accesses it, when and for how long. Data owners and authorised processors and controllers can manage the security of PII data, and they can always see who has done what with the data. Compliance and audit trails are irrefutable,” said Stuart Curley
“NGA HR’s commitment to putting the Gospel Technology platform at the core of its complex, cross-company, PII-driven processes have really highlighted the benefits that we can bring to the diverse stakeholders in that process – employers, employees, payment providers and NGA HR themselves. Everyone benefits from tight integration with their existing systems and processes, total transparency in how data is used and the assurance as to who can and has read that data, when and why,” explained Reuben Thompson.
“The architectures of today are no longer fit for purpose, as regular high-profile security breaches demonstrate. At Gospel Technology, our vision is to secure key enterprise and personal data to build a future where trusted data collaboration and inter-enterprise data governance is the norm. We see a huge opportunity for NGA HR as an employer, and also as a controller and processor of data,” added Ian Smith.
