IDfy rolls out ‘Privy’ a privacy and compliance suite for companies in India
By Gloria Mathias
IDfy, Asia’s Integrated Identity platform, has launched Privy, a suite of privacy and compliance solutions designed to assist organizations across industries in achieving full compliance with the DPDP Act.
The Digital Personal Data Protection Act was passed in 2023 to protect Indian citizens from misuse of their personal data. In light of DPDPA, operating without privacy governance controls is not only a reputational and commercial risk but also a snub to the rights of digital customers and end-users.
Privy addresses the critical need for businesses to manage and govern consent effectively under the DPDP Act regulations. With Privy, companies can streamline the process of collecting, managing, and auditing user consents across various touchpoints, ensuring adherence to regulatory requirements and bolstering customer trust.
Ashok Hariharan, CEO and Co-Founder of IDfy, said, “The landmark DPDP Act has given power back to the citizens of the country. Fiduciaries have to now be careful about how they get customer consent and use their customers’ data. We are excited to launch Privy, our governance platform, which helps fiduciaries ensure they are abiding by the law and empowers Data Protection Officers to be fully compliant with the guidelines.”
The consumer-focused DPDP Act states various norms that companies need to adopt to ensure that their platform securely manages users’ personal data. These include aspects such as obtaining consent in 22 languages, verifying parental consent for users under the age of 18 and integrating with existing sectoral regulations.
Privy bridges these significant gaps in consent governance and management and addresses these key issues. Any platform that collects users’ personal data can be integrated with Privy to comply with the DPDP Act.
Supratim Chakraborty, Partner at Khaitan & Co, shared, “The launch of a platform like this is an important landmark for Data Privacy in India. Apart from covering critical aspects relating to data privacy, I understand that the platform is a completely home-grown product made by India for the world.”
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