HACKENSACK, N.J., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Paperclip, Inc. (OTCMKTS:PCPJ) announced the launch of Zero Trust Data Safe, which combines patented Flying Cloud CrowsNest data surveillance technology with Paperclip’s SAFE® searchable encryption (encryption of data-in-use) technologies. Together, they automatically discover, classify, and secure sensitive data to simplify compliance without exposing critical data to risk or compromising performance.

With cyber threats escalating in number and severity, and the average cost of a data breach stands at $4.45 million (IBM Cost of a Data Breach Report 2023). The Zero Trust Data Safe platform significantly reduces the risk of sensitive data loss or damage, helping you avoid the high costs of a breach. At the same time, you can significantly increase protection for all data without having to invest in additional point solutions, upgrades, or management resources.

“Right now, the compliance-mandated data discovery and classification process often introduces sensitive data to unintended risk," said William Weiss, CEO of Paperclip Inc. "This collaboration brings together two critical technologies in the first solution of its kind. Zero Trust Data Safe will transform data security as we know it, combining data discovery, classification, and searchable encryption in one powerful solution.”

Paperclip SAFE® as a Privacy Enhancing Technology (PET) platform leverages searchable symmetric encryption, NIST AES 256 encryption algorithms, patented shredding protocols and Privacy Enhancing Computation (PEC) to go beyond existing data encryption technology. SAFE’s next-generation encryption combined with CrowsNest patented technology creates the Zero Trust Data Safe.

Flying Cloud CrowsNest automatically discovers and fingerprints every type of data running over the network or residing in applications, desktops, clouds, and device streams—without touching files. By analyzing data movement and usage in real time, CrowsNest also creates a rolling baseline of normal data behavior in your network. Once classified, sensitive data is automatically deposited into a quarantine powered by Paperclip SAFE.

In the Paperclip SAFE environment, data is shredded and each shred is encrypted using AES 256 encryption. Data always stays shredded and encrypted for maximum security. Users can query data, with queries also being shredded and encrypted to create highly secure encryption-on-encryption searches. No data is decrypted for use, and only data relevant to the query is exposed to an authorized end user—elevating data security like never before.

"For the first time, organizations can account for—and secure—every piece of data," said Brian Christian, CEO of Flying Cloud Technology. "Once data is known, they can make appropriate decisions about its use, apply detailed policies, and automatically enforce those policies. Data accountability is fundamental to an organization's security, strategies, and operations—regardless of whether the data is regulated, sensitive, or operational."

Together, Flying Cloud and Paperclip have partnered with Premier Federal, Inc., a SBA 8(a) certified WS)B/EDWOSB, GSA MAS, and GSA 8(a) STARS III designated company based in Atlanta, GA.

“Premier Federal has extensive experience bringing solutions to key Federal agencies,” said Chad Walter, Paperclip CRO. “Their expertise is essential to meeting Federal demands for better data discovery, classification, use and security platforms.”

With the combined solutions, users can discover and classify critical data and gain time to decide how it should be handled. Meanwhile, the data is maintained within an encrypted searchable quarantine without being at risk. The Zero Trust Data Safe solution is available through a strategic partnership with Premier Federal, which specializes in custom solutions, services, and support to Federal, State/Local, and commercial customers.

About Paperclip Inc.
With over three decades of customer-centric innovation, Paperclip is a proven strategic partner that continues to revolutionize data security, content supply chain, and document management for Fortune 1000 companies worldwide. Every second of every day, Paperclip solutions securely process, transcribe, store, and communicate our client’s most sensitive content, such as PII, PHI, NPI, and corporate IP. Paperclip enables enterprises to harness the power of their data without ever sacrificing security. As a trusted leader, Paperclip continues to innovate, adapt and excel within a rapidly changing digital world. Learn more at www.paperclip.com.

About Paperclip SAFE®
Paperclip’s proprietary SAFE® searchable encryption solution builds upon an established foundation of trust and collaboration earned from over three decades of consistent performance. Paperclip SAFE utilizes our team’s in-depth knowledge of the data supply chain to ensure that private, sensitive, and controlled data is encrypted and removed from risk of data theft and ransom. Originally developed as an internal solution, Paperclip has operationalized SAFE for more than three years to protect the critical data behind our active customer base, including nine of the top 10 life insurance and annuity enterprises. With Paperclip SAFE, critical data assets are always encrypted, always available, and always ahead of evolving risk. For more information, visit https://paperclip.com/safe.

About Flying Cloud Technology
Flying Cloud provides foundational data accountability solutions that drive enterprise cloud, security, AI, and operational strategies. Launched in 2014, the company has 12 patents for data surveillance technology. Flying Cloud partners with industry leaders in cloud, cybersecurity, and system integration to address the broadest range of data accountability and data security use cases. For more information, visit https://www.flyingcloudtech.com.

About Premier Federal, Inc.
Premier Federal (CAGE: 4QGZ7, UEID: NPT2EC4L9277) based in Atlanta, GA is a SBA certified 8(a), minority woman- owned small business (WOSB/EDWOSB) with GSA MAS, 8(a) STARS III, and NIWC LANT 8(a) Program participant.
Premier Federal specializes in 24x7 managed Cybersecurity, Data Modernization, AI/ML, and Predictive Analytics solutions and services. Premier Federal offers custom solutions, services, and support to the Federal, State/Local, and commercial customers.
https://www.premfed.com

CONTACT
Megan Brandow, Director of Marketing
Paperclip, Inc.
(585) 727-0983
mbrandow@paperclip.com