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CNP ASSURANCES

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CNP Assurances : Open CNP invests in MiTrust, a European solution for the portability of personal data

10/20/2021 | 10:51am EST

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Press Release

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Paris, 20 October 2021

Open CNP invests in MiTrust, a European solution for the portability of personal data

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[footnoteRef:2] personal data. [2: Minimisation: the principle that personal data must be adequate, relevant and limited to what is necessary in relation to the purposes for which it is processed (source: CNIL)]

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[footnoteRef:3] 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. [3: KYC: Know-Your-Customer / KYB: Know-Your-Business ]

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.

"Without trust, no transaction is possible, and this is even more true in the digital space! Our mission is to facilitate digital relationships by reconciling security and simplicity through responsible sharing of personal data. We are particularly pleased with this investment by Open CNP, which in addition to the financial side, brings added validation to this vision", says Xavier Drilhon, president and co-founder of MiTrust.

"After only a few weeks of discussion with MiTrust, we identified many use cases in our various businesses. This financial investment made all the more sense given our shared values around digital moderation, responsible sharing of personal data and our common vision on simplifying customer journeys", explains Hervé Thoumyre, Head of Customer Experience & IT at CNP Assurances and a member of the executive committee.

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.

About CNP Assurances

A leading player in the French personal insurance market, CNP Assurances operates in 19 countries in Europe, notably in Italy, and in Latin America, where it is very active in Brazil, its second largest market.

As an insurance, coinsurance, and reinsurance provider, CNP Assurances designs innovative personal risk/protection and savings/retirement solutions. The company has more than 36 million insured in personal risk/protection insurance worldwide and more than 12 million in savings/retirement. In accordance with its business model, its solutions are distributed by multiple partners and adapt to their physical or digital distribution method as well as to the needs of customers in each country in relation to their protection and making their lives easier.

CNP Assurances has been listed on the Paris Stock Exchange since October 1998, and is a subsidiary of La Banque Postale.

The Company reported net income of €1.,350 million in 2020.

About MiTrust

MiTrust, a trusted intermediary for sharing personal and business data, launched commercially in 2019. The solution allows users to share reliable data directly from eligible service providers (banks, telecom operators, government services, etc.) with just a few clicks, in real time and under their strict control. The company is registered with the ACPR (an administrative authority attached to the Banque de France) as an Account Information Service Provider (AISP) under the identification code 17368 (CIB). Its solution is used in three countries (France, Germany and the Netherlands) and in five industries (financial services, human resources, the collaborative economy, vendor compliance, and online gaming and betting).

CNP Assurances

Florence de Montmarin +33(01) 42 18 86 51

Tamara Bernard +33(01) 42 18 86 19

Caroline Ceintrey +33(01) 42 18 85 73

servicepresse@cnp.fr

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MiTrust

Martin Colomb +33(01) 46 05 38 99

contact@m-itrust.com

More information at: https://m-itrust.com/

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Disclaimer

CNP Assurances SA published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 14:50:03 UTC.


© Publicnow 2021
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