October 20, 2022 – Prime Factors, the leader in application-level data protection, has been recognized for the second year in a row as a Sample Vendor in Gartner Hype Cycle for Data Security, 2022.
Prime Factors, the leader in application-level data protection, has been recognized for the second year in a row as a Sample Vendor in Gartner Hype Cycle for Data Security, 2022. This year Gartner named Prime Factors under two categories—Data Security Platforms and Format-Preserving Encryption.
Stating the importance of Data Security Platforms (DSP) the Hype Cycle report mentions, “traditionally, data security has been delivered by disparate products, which has resulted in operational inefficiencies and an inability to support, for example, data risk assessments, open data, commercial data, and internal innovations and collaborations involving data. Especially in cloud-based data stores, a DSP reduces integration cost, manual work and friction by connecting previously disparate data security controls and capabilities.” Gartner pointed out that, “DSPs aggregate individually-mature technologies, but the integration of these technologies is immature and still emerging.”
“More than a decade ago, Prime Factors realized the old way of delivering fragmented data security products would no longer suffice, which led us to create EncryptRIGHT,” said Justin Teitt. “We developed our platform from the ground up to streamline broad-spectrum data security by incorporating a variety of data protection capabilities into a single code base to more comprehensively define and enforce modern data protection and privacy. We are confident EncryptRIGHT is uniquely positioned to help simplify protecting data wherever it is used, moved, or stored.”
In the DSP Innovation Insight, Gartner states, “DSPs provide consolidated security and protection capabilities for data. They aggregate formerly siloed capabilities under a common policy instrument, considerably streamlining data security.” The Hype Cycle for Data Security further states, “especially in cloud-based data stores, a data security platform can reduce integration cost, manual work and friction by connecting previously disparate data security controls and capabilities.”
“Leveraging more than 40 years of experience securing sensitive data for many of the world’s largest enterprises and financial services institutions, Prime Factors built EncryptRIGHT into one of the world’s first data security platforms, and the platform provider of choice, as a result of our ability to adapt to the emerging digital transformation,” said Henry Cheli, CEO of Prime Factors. “Studies, surveys and reports such as Gartner Hype Cycle and Innovation Insight report, which includes DSPs, to us affirms the Prime Factors’ approach to data security, simplifying what has become enormously complex, and providing an elegant solution to a global customer base.”
If you are a Gartner client, you can access the full report here: https://www.gartner.com/en/documents/4017216
*Gartner, “Hype Cycle for Data Security, 2022”, Brian Lowans, August 4, 2022.
**Gartner, “Innovation Insight for Data Security Platforms”, Joerg Fritsch, May 20, 2022.
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About Prime Factors
Prime Factors is a global leader in applied data protection software, helping to secure an open and collaborative digital world. Data has never been more plentiful or more valuable, and the protection of sensitive data has never been more complex. With a focus on application-level data protection, software solutions from Prime Factors help to simplify the complexities associated with protecting sensitive information where it is most at risk. For 40 years, Prime Factors has served more than 1,000 customers across six continents in a variety of industries, including 80% of the top financial institutions in North America, with cryptographic software solutions for payments, information exchange, and general data protection. www.primefactors.com