Spring Labs is the force behind the spring protocol, a network that empowers participants like financial institutions to exchange information about data, such as credit and identity data, without the need to disclose the actual underlying data. By enabling direct information sharing among institutions, Spring Labs facilitates identity verification and fraud reduction while safeguarding consumer data. Employing an attestation-based approach, Spring Labs mitigates the risk and impact of data breaches for both financial institutions and consumers. With the Spring Protocol, data ownership and data value are decoupled, enabling competitively-sensitive parties to engage in direct and innovative information exchange.
$30M • 2021 • Series B
They allow institutions to directly share information among themselves to verify identities and reduce fraud all while protecting consumer data.
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