Open CNP, CNP Assurances’ Corporate Venture Fund, announces that it has taken a minority stake in MiTrust, a trusted European intermediary for sharing and minimising personal data.
Launched commercially in 2019, this startup, which specialises in the portability of personal data, leverages its expertise to build confidence in online exchanges, both for consumers and for businesses. Its service revolutionises customer registration, membership and/or KYC/KYB processes by allowing users to share their qualified personal or business data directly from eligible data sources (such as energy suppliers, banks, telecom operators, government services, etc.) using a simple, fast, secure and 100% online process. No account creation is necessary, and MiTrust does not store any data.
MiTrust is already used by customers in France, Germany and the Netherlands, in sectors as diverse as financial services, HR software, vendor compliance, online betting and the collaborative economy. The solution is also online in Spain, Italy and the United Kingdom.
For users, MiTrust saves precious time, without having to download documents or fill out forms. With this 100% digital experience, they can share their data in real time with total control and transparency, while transmitting only what is necessary.
For businesses, the platform facilitates increased conversion rates, reduced costs and optimisation of KYC and anti-fraud processes.
Registered with the French Prudential Supervision and Resolution Authority (ACPR) as an account information service provider, MiTrust implements fundamental principles of the General Data Protection Regulation (GDPR), such as the right of access (art. 15), the principle of minimisation (art. 8) and the right to data portability (art. 20).
With this transaction, CNP Assurances is pursuing its investment and partnership objectives with innovative start-ups via Open CNP, its Corporate Venture programme. Created in 2016, its objective is to financially support the growth of innovative start-ups while working with them to develop advanced solutions in promising fields (Fintech, insurance, e-health and other technologies), allowing it to better serve its customers. Its previous investments include companies like Alan, Lydia, October, Paylead, Tehtris, YesWeHack and Moneybox.