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Privacy Lock Receives Funding from Bankers Helping Bankers Fund to Bring Privacy Compliance to Financial Institutions

Privacy Lock: Privacy solutions for banks and fintechs.

BHB: The Bankers Helping Bankers Fund's (BHB Fund) mission is to generate top quartile venture capital returns by supporting and enhancing community banks' competitiveness and growth.

Privacy Lock, a leader in privacy compliance solutions, announced the initial closing of an investment round led by the Bankers Helping Bankers Fund.

Privacy Lock is the first complete privacy compliance solution purpose-built for banks and fintech companies.”
— Richard Leggett
DENVER, COLORADO, UNITED STATES OF AMERICA, February 5, 2024 /EINPresswire.com/ -- Privacy Lock (www.myprivacylock.io), a leader in privacy compliance solutions for financial institutions, announced today the initial closing of an investment round led by the Bankers Helping Bankers Fund (www.bhbfundvc.com). Privacy Lock’s proprietary technology allows banks and financial companies to automate compliance with state and federal data privacy regulations in a scalable and cost-effective manner, without ever collecting the institution’s customer data. Recognizing the importance of privacy protections for financial consumers, the BHB Fund led an investment into Privacy Lock. BHB Fund Managing Partner, Richard Leggett, will be joining the Privacy Lock Board of Directors.

BHB’s investment in Privacy Lock underscores the importance of privacy compliance for community banks, fintechs, and other financial companies in the face of new state and federal privacy regulations and the incoming enforcement of Section 1033 of the Consumer Financial Protection Act by the Consumer Financial Protection Bureau (CFPB).

“Privacy Lock is the first complete privacy compliance solution purpose-built for banks and fintech companies,” explains BHB Managing Partner, Richard Leggett. “Implementing new compliance programs given the current and pending wave of regulation can be complex and time-consuming for community financial institutions and other companies in the financial technology ecosystem. Privacy Lock solves this problem with a scalable, cost-effective, and modern compliance tool that not only addresses privacy compliance, but also enhances consumer trust in their financial institution.”

Privacy Lock CEO, David Ritter, notes, “We are very excited to be working with the BHB Fund to offer privacy solutions to banks and financial companies. The future of financial data processing is processing with privacy. Privacy regulations are transforming the way banks need to collect and manage consumer financial data. The BHB Fund provides Privacy Lock with a unique combination of capital, access to its financial institution ecosystem, and deep operational expertise.”

About Privacy Lock:
Privacy Lock helps banks and financial companies automate compliance with data privacy laws. By offering one solution to cover compliance obligations across state, federal, and international jurisdictions, Privacy Lock reduces the risks and costs of implementing expensive compliance processes in multiple markets. Privacy Lock is the only privacy solution that never collects customer data. Find out how Privacy Lock can be your partner in privacy.

Click here to learn more: https://www.myprivacylock.io

About The Bankers Helping Bankers Fund:
The Bankers Helping Bankers Fund's mission is to generate top quartile venture capital returns by supporting and enhancing community banks competitiveness and growth. Community banks play a critically important role in our national economy and the BHB Fund seeks to invest in technology companies that help community banks enhance their value-proposition to their Main Street customers, expand their breadth of product and services, and increase their operational efficiency.

Click here to learn more: https://www.bhbfundvc.com/

David Ritter
Privacy Lock
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Privacy Lock at Finovate 2022