London Fintech Podcast: Unlocking data privacy and financial crime

The London Fintech Podcast episode focuses on Privacy Enhancing Technologies (PETs) and its potential to combat financial crime. The host, Tony Clark, interviews Ellison Anne Williams, founder and CEO of Enveil, a company specializing in PETs.

Williams explains that PETs, particularly homomorphic encryption, allows data to be securely accessed and utilized across various entities and jurisdictions. This is particularly relevant in the fight against financial crime, where information silos between banks and regulatory bodies hinder progress.

Williams outlines that the UK's Financial Conduct Authority (FCA) has been pushing for wider adoption of PETs through initiatives like sandboxes for testing data sharing within regulatory boundaries. She believes that the biggest barrier to wider adoption isn't the technology itself, but a lack of understanding around its potential benefits for businesses and a lack of investment in large-scale operational pilots.

The episode concludes with a call to action for institutions to engage with PETs and explore its potential to combat financial crime and enhance data security.

Check out the episode on the London Fintech Podcast site.