Can I use the Parashift IDP Platform to process sensitive business documents?

When dealing with confidential information, security and compliance are non-negotiable. Parashift IDP Platform is already trusted by leading banks and insurance companies—organizations known for handling highly sensitive documents. You might wonder: how the Parashift IDP platform securely manage such delicate information?

Let’s explore how we ensure top-notch security and compliance.

1. Proven experience with sensitive Data

Parashift IDP Platform has a strong track record in handling sensitive data, earning the trust of some of the most prominent banks, insurance companies, and healthcare providers (Raiffeisen, BLKB, AXA, SWICA and many others)—industries known for their rigorous data protection needs.

• Banking Sector: Banks manage extensive personal and transactional data. Parashift’s robust security measures have been rigorously tested in this demanding environment, ensuring that sensitive financial information is processed with the utmost security and efficiency.
  
  

  

• Insurance Industry: Insurance companies deal with sensitive personal and medical data, requiring stringent data protection protocols. Parashift IDP Platform is engineered to meet these high standards, making it a trusted choice for processing insurance-related documents.
  
  

  

• Healthcare Providers: With strict regulations surrounding patient data, healthcare providers rely on Parashift IDP Platform to handle medical records and sensitive information with exceptional care and security.

2. Security-First approach

Parashift was designed with a security-first approach, enabling companies to process sensitive customer data securely in the cloud. This commitment to security is why leading banks, insurance companies, and healthcare providers trust Parashift.

• Comprehensive certifications: Parashift holds a range of certifications that reflect our dedication to data security and compliance:
  
  • ISO 27017 (Cloud Security)
  • ISO 27110 (Information Security Management)
  • ISO 27018 (Protection of Personal Data)
  • SOC 1/2/3 (Service Organization Controls)
  • HIPAA (Health Insurance Portability and Accountability Act)
  • PCI DSS (Payment Card Industry Data Security Standard)
  • CSA STAR (Cloud Security Alliance Security, Trust & Assurance Registry)
  • C5:2020 (Cloud Computing Compliance Controls Catalogue)
    
    
    
• Innovative Data Training: We’ve developed a unique training data format that represents the data without allowing any conclusions to be drawn about the original information. This allows you to process documents containing Customer Identifiable Data (CID) while minimizing exposure and ensuring data is not in the cloud longer than necessary.

3. Advanced security features

Parashift offers a comprehensive suite of security features designed to protect your data:

• IP Whitelisting: Restrict access to your tenant by specifying an IP range, ensuring that only users within your network can log in to Parashift.
  
  
• OpenID Integration: Seamlessly integrate your OpenID-based identity provider to centralize identity management and provide a smooth user authentication experience.
  
  
• Authentication Methods:
  • Password-Based Authentication: Requires a password for logging in, used by both clients and Parashift employees.
    
    
  • Multi-Factor Authentication (2FA): Enhances security with two-factor authentication. This is mandatory for Parashift employees and optional for other users.
    
    
  • API Communication: All API communications use HTTPS, ensuring confidentiality, authenticity, and integrity while preventing mixed content issues.
    
    
  • HTTP Basic Authentication: Utilized for webhooks that do not contain sensitive information.
    
    
  • API Access Tokens: Secure and manageable access through API keys, ideal for applications with multiple users.
    
    
• Data Encryption: Data is encrypted both in transit and at rest, accessible only by authorized roles with verified access to encryption keys.
  
  
• Regular Penetration Testing: Parashift conducts annual penetration tests by a neutral company to identify and address vulnerabilities.
  
  
• Formal Security Policies: Our comprehensive policies cover IT/Engineering functions, including vulnerability management, system monitoring, and security monitoring.
  
  

4. Compliance with Industry Standards

Adhering to data protection regulations is crucial. Parashift IDP Platform is designed to comply with major industry standards:

• GDPR Compliance: Parashift supports GDPR requirements, such as data minimization and managing data subject requests for businesses operating in the EU.
  
  
• HIPAA Compliance: For healthcare-related documents, Parashift adheres to HIPAA guidelines, ensuring the secure processing of Protected Health Information (PHI).
  
  
• Other Regulations: Whether handling financial or other sensitive data, Parashift helps meet various industry-specific regulatory requirements. Check our Compliance page.

Conclusion

Parashift is not only equipped with strong security features but also has extensive experience and a commitment to safeguarding sensitive data. With its security-first approach, comprehensive certifications, and advanced security features, Parashift offers a reliable and secure solution for processing sensitive business documents.

If you’re looking to enhance your document processing while maintaining the highest security standards, Parashift IDP Platform is a powerful choice. For more information or to schedule a demonstration, please reach out to us.

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