UK’s Nationwide invests in AI regtech Hazy
Hazy, a London-based online regtech platform, has received Nationwide Building Society’s second investment as part of a £50 million Venturing Fund designed to create long-term partnerships.
Hazy says it uses artificial intelligence (AI) in its solutions to seek out and anonymise personal data, “supporting businesses in ensuing customer data is private and secure”.
Harry Keen, CEO of Hazy, says: “Consumers are now acutely aware of the importance of data security and, with the presence of GDPR legislation, businesses rightly now consider safe data-handling as mission-critical.”
Keen also says Hazy has been built to require zero technical integration, or any technical expertise, to allow companies to become fully GDPR-compliant.
The Venturing Fund launched in June to invest and partner with early stage start-ups exploring products to help the society’s members.
Hazy has attracted investment by a range of investment in the 18 months it has been active. The company is already working with clients including start-ups, international banks and the British government.