Tascet teams with Secured2 to launch Algo5 data security offering
Identification technology company Tascet is partnering with Secured2 to launch a new data security offering. The product, Algo5, aims to protect data against both internal and external breaches, hacks, and disasters, reports Julie Muhn at Finovate (Banking Technology‘s sister company).
The new data storage solution combines Tascet’s SuperToken, which verifies a user’s identity, with Secured2’s Beyond Encryption, which protects data from the origination of a document to an endpoint of cloud, local, or hybrid storage. Algo5 offers “cost savings by shrinking, shredding, and dispersing data to numerous locations, each with its own encryption”. To retrieve the data, users must be authorised and verified through SuperToken.
Daren Klum, CEO of Secured2, says: “Algo5 brings together two technologies – identification and data security at the file level – that are changing the way companies store, access, and retrieve data.”
“Algo5 provides all of the crucial components necessary to secure data in today’s high risk environment,” adds Tascet CEO Larry Aubol. “This includes the identification of users, which ensures that access is allowed only by users who are known. This step is nonexistent in approaches that rely on authentication.”
In June of this year, Tascet announced a partnership with Mobility Exchange to bring SuperToken to Mobility Exchange’s clients. Tascet was founded in 2005. It is headquartered in Madison, Wisconsin and has raised just over $13 million.