InCountry Launches First-Ever Solution Enabling SaaS and Multi-National Companies to Comply with Global Health, Finance and Payment Data Residency Regulations

SAN FRANCISCO -- InCountry, the data residency-as-a-service platform, today announced the launch of a first-of-its-kind product offering that will handle, process and store health, finance and payment data in more than 60 countries. In order to help businesses expand globally amidst country-specific data regulations within these verticals, InCountry prioritized demonstrated compliance with three security standards needed to safeguard user information beyond profile data in less than one year from launch.

The rise of General Data Protection Regulation (GDPR) and other data regulations have sent enterprises into a frenzy in the last year. In 2019, fines for violating various regulations totaled more than $1.45 billion. As governments across the globe continue implementing specific laws protecting regulated consumer health, finance and payment data, it leaves many companies unprepared and non-compliant, lacking the technology and resources to handle each country-specific regulation. 

Furthering their mission, InCountry has now expanded their services to include, health, finance and payment data solutions by obtaining key compliance certifications including SOC 2 Type 2 Examination, SOC 3, Payment Card Industry Data Security Standard (PCI-DSS), and Health Insurance Portability and Accountability Act (HIPAA/HiTech). The completion of these certifications in tandem with their respective products enables enterprises that process these forms of data to remain compliant while focusing on unlocking global expansion and dealmaking. These services allow compliance to be woven into a company’s core business model - a clear indication of a commitment to the privacy, security and data protection requirements of consumers.

“Credit card transactions represent the vast majority of payments globally,’’ said Peter Yared, Founder and CEO at InCountry. “With the increase in the amount of sensitive patient data stored, plus the strict regulations for securing electronic protected health information (ePHI) data, it’s no wonder that data protection and compliance is a big concern for organizations around the world.”

As payment breaches reach tipping points, making sure companies meet PCI-DSS requirements is necessary for preventing financial loss and reputational damage. With InCountry’s achievement of PCI-DSS-as-a-service provider, customers can now use InCountry’s services and still meet their own compliance obligations regarding the handling of payment card data. 

“We’ve done rigorous and intense work to obtain these examinations and certifications at record time,” elaborates Renné Devasia, Chief Compliance and Security Officer at InCountry. “Getting these certifications and examinations with no exceptions indicates our security and compliance strategy and gives our customers a vote of confidence with our vision.”

HIPAA compliance supports efforts to protect constituents’ medical records and breaks down procedures and policies for companies that handle, process or store ePHI. It’s a critical part of data security and privacy for hospitals, healthcare companies or any organization that handles sensitive patient data. To avoid HIPAA violations, it’s imperative to oblige by the policies and avoid massive fines, or worse, disclosing private health records to the public. 

About InCountry
InCountry is a Data Residency-as-a-Service platform that securely stores, processes, and regulates data in its country of origin. The company helps multinational companies scale amidst an era where global data compliance regulations are changing constantly and unpredictably. InCountry is backed by Caffeinated Capital, Felicis Ventures, Ridge Ventures, Bloomberg Beta, Charles River Ventures, Global Founders Capital, Parade Ventures, and MState. The company is headquartered in San Francisco, CA with offices in Singapore, Sydney and Minsk. To learn more, visit www.incountry.com. 
 

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