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Spring Labs helps businesses securely store and share sensitive data without revealing any personally identifiable information (PII) with patented, ultra secure cryptography and tokenization solutions.

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Sensitive Data Protection: Encryption vs Tokenization

April 24, 2023

In today’s data-driven world, protecting sensitive information is paramount. Organizations must ensure that their data is secure from both...

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Spring Labs helps businesses securely store and share sensitive data without revealing any personally identifiable information (PII) with patented, ultra secure cryptography and tokenization solutions.

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Read Our Latest Blog

Sensitive Data Protection: Encryption vs Tokenization

April 24, 2023

In today’s data-driven world, protecting sensitive information is paramount. Organizations must ensure that their data is secure from both...

Read Blog →

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Spring Labs helps businesses securely store and share sensitive data without revealing any personally identifiable information (PII) with patented, ultra secure cryptography and tokenization solutions.

Read Our Latest Blog

Sensitive Data Protection: Encryption vs Tokenization

April 24, 2023

In today’s data-driven world, protecting sensitive information is paramount. Organizations must ensure that their data is secure from both...

Read Blog →

American Banker: TransUnion, Spring Labs to provide credit scores to blockchain apps

TransUnion and Spring Labs are collaborating to let consumers share their credit score information with decentralized finance lenders.

The intent is to let consumers leverage their credit reputations to get better terms from decentralized finance (DeFi) lenders than they typically do today. Many crypto lenders do what’s called “over-collateralized lending,” where in order to borrow $1 worth of digital currency, a user has to post and maintain $1.25 worth of collateral. If consumers can prove they are creditworthy, the reasoning goes, they can borrow much more affordably.

The new credit data offering, which is delivered through a Spring Labs spinoff called Quadrata, will let decentralized applications use the compliance mechanisms traditional financial applications have to use, according to Matt Smith, chief technology officer at Spring Labs. It will let them add identity verification, anti-money laundering checks and know-your-customer checks, “making all of that verifiable so you can satisfy your compliance requirements as a regulated company and still interact with this new model,” he said in an interview.

 

View original story on American Banker →