Financial institutions generate large amounts of diverse data, daily. Sensitivity and privacy force organisations to comply with internal and external requirements around security and governance. For instance, a bank that needs to operate the credit data of its clients will be limited by privacy and confidentiality concerns. In such a scenario, collaborating with third parties (e.g. data scientists) would be challenging, many times prohibitive, raising a barrier to innovative solutions like consumer behaviour analysis.
Pryml provides the technology that makes innovation possible on confidential data. By generating a synthetic version of the private data sets, third parties are free to implement their solutions in less restrictive environments. Through the Pryml platform, organisations retain full control of their data while exploiting their full potential. This, in turn, accelerates the pace of innovation, providing data scientists with the right tools to manipulate confidential data.
While the platform has been designed around the use case of financial services, Pryml’s technology is applicable across domains, where large amounts of confidential data are involved.
- Francesco Gadaleta - CEO
- Daan Gerits - CTO
Q and A with Francesco Gadaleta, Co-founder and CEO, Pryml
What inspired you to go away and solve the problem you are addressing?
Both me and my co-founder Daan have experienced the pain of not being able to share data internally in both small and large organisations. Secure data access is a problem that has been slowing down the entire process of innovation and that’s why we knew we had to do something about it.
What tips would you give an aspiring entrepreneur?
If you feel a pain of some sort and can build something that solves it, just do it! We waited too long before deciding to jump on the Pryml train. Of course we are not too late, but acting fast is key. Hesitating will kill you and your idea.
What's the hardest part of being a founder?
Overall it is fun. Although I will say that if you are a technical founder (who's used to building stuff), the hardest part is delegating the coding to someone else and focusing on strategy, fundraising, financials, product and all the other vital aspects of the company you are building.
If you weren't building your startup, what would you be doing?
Building someone else's startup.
What gets you out of bed in the morning?
What’s a bed? All jokes apart, building a startup from scratch is tedious, time consuming and it just sucks all your energy. Love is what gets me out of bed. The love I have for what I do. You gotta love what you do. Or what you do will destroy you before you actually do it.