Revolut selects Metomic for data security across its SaaS applications

This partnership will improve Revolut’s data security management and ensure compliance, mitigating risks and protecting sensitive data within its SaaS and cloud-based environments.

Details on the partnership

As it operates in the highly regulated, rapidly expanding financial sector, Revolut needed a data security solution that aligned with its rapid operations and could scale with its growth.

For this purpose, the company undertook an evaluation process of data security solutions to ensure the selected platform could meet complex requirements for data classification, discovery mapping, and real-time risk mitigation. The company chosen was Metomic, as its capabilities in real-time data discovery, powerful data classification, and automated remediation workflows can enable Revolut’s teams with immediate awareness and control of sensitive data risks.

Metomic’s data loss prevention solutions

According to uktech.news, SaaS app usage increased by 18% in 2022 as businesses used, on average, more than 130 SaaS tools across their organisations. The challenge comes from the lack of visibility and control that companies have over what data is uploaded in SaaS apps, and whom it is shared with.

This results in PII (personally identifiable information), confidential information, and security credentials being stored and exposed unnecessarily and unintentionally. This presents a real risk for organisations that rely on the productivity benefits of SaaS but need to control and protect their sensitive data.

Metomic’s data security for GenAI, cloud and SaaS aims to provide an application that solves this problem for lenders. According to the same source, Metomic’s automated platform has prevented more than two million data leak threats in SaaS ecosystems from August 2021 to January 2023. It has also detected hundreds of millions of sensitive data points within SaaS applications and found that 99% of the sensitive data does not need to be there or is accessible to people who shouldn’t have access.