Berchem/Leuven, August 13, 2024 - GraydonCreditsafe and Datavillage are excited to announce their collaboration in developing innovative market solutions to address significant industry challenges through community-driven data collaboration.
GraydonCreditsafe, the market leader in business information, is set to enhance its existing fraud risk and compliance solutions by leveraging insights derived from data shared by their customers. This will lead to a substantial improvement in the efficiency of fraud prevention, detection and risk management processes.
Datavillage, renowned for its trusted data collaboration platform applied for financial crime detection and prevention, will empower industry participants to share data confidentially and securely, all while maintaining full control over their information.
This strategic partnership is poised to deliver immense value by combining the best of both worlds: top-tier company information sourced from public records and authentic behavioural data from within the industries. Stay tuned for the announcement of the first solutions arising from this powerful collaboration, coming soon…
Peter Gazelle, Managing Director @GraydonCreditsafe:
"Companies have the same challenges in different domains. But they need to step outside their silo and rely on community data for the sake of efficiency, to increase performance and make better assessments. The technology available to Datavillage allows different parties to share data securely, completely anonymously and confidentially. That is the future. The data in the data collaboration platform is encrypted so that neither GraydonCreditsafe, Datavillage nor the actors know where that data comes from. GraydonCreditsafe is as a third party only the supplier of the algorithms, where we borrow the data and convert it into insights for all participants. Each party gets the same insights, by the way, so no player is favoured."
Frederic Lebeau, CEO @Datavillage:
“Datavillage is thrilled to collaborate with GraydonCreditsafe to tackle shared industry challenges, such as fraud prevention, through secure data and AI collaboration. We are empowering data and AI collaboration solutions in Europe and beyond to solve huge societal and industry challenges where trust is key in confidentiality and security. This alliance combines our cutting-edge technology for secure and confidential data sharing with GraydonCreditsafe's data insights solutions and expertise. Together, we empower organisations to enhance efficiency, performance, and decision-making by providing higher-quality insights, all while maintaining full control over their data and without disclosing any sensitive or proprietary information.”
GraydonCreditsafe's current Fraud Indicator predicts 75% of fraud cases. To close the gap of the remaining 25%, companies need to step out of their data silos and collaborate by sharing information. If companies can detect or predict an additional 10-20% of fraud cases, they could win hundreds of thousands of euros.
About GraydonCreditsafe
GraydonCreditsafe combines knowledge, confidence and data. As the global market leader, we deliver cutting-edge business intelligence. We have an unrivalled international network, as well as in-depth local insights. In doing so, we change the way companies do business and implement data intelligence at the heart of every company, including through integrations with strong partners.
GraydonCreditsafe is part of the Creditsafe Group, the world's leading provider of online credit reports. The group is present in 16 countries with its own offices. Information on as many as 365 million companies is permanently available online. Some 500,000 users at 115,000 customers requested some 270 million company reports last year.
About Datavillage
Datavillage is a company based in Belgium serving global clients by leveraging Confidential Computing, a technology that encrypts and protects data during processing, which is increasingly adopted by companies, especially through major cloud providers, with an expected adoption rate of up to 60% in the coming years. Datavillage utilises this technology to pioneer Confidential AI, allowing organisations to train and apply AI algorithms to sensitive data without compromising confidentiality or privacy. This innovation enables businesses to leverage AI's potential while ensuring high security levels, transforming data utilisation without the risk of privacy breaches or data leaks. For example, financial institutions can enhance transaction monitoring, reduce false positives, and increase detection rates by fine-tuning AI models and collaborating to improve system accuracy.