Omnisient Wins Fast Company’s 2023 ‘Next Big Things In Tech’ For Social Good
Omnisient Wins Fast Company’s 2023 ‘Next Big Things In Tech’ For Social Good. South African privacy-preserving data collaboration platform recognised in Fast Company’s list of tech breakthroughs that promise to transform the future.
Omnisient, privacy-preserving data collaboration platform and World Economic Forum Tech Pioneer, has announced that it has been named as Winner for Social Good in Fast Company’s third annual Next Big Things in Tech list, honouring technology breakthroughs that promise to shape the future of industries — from healthcare, banking, and security to artificial intelligence and data.
This year, 119 technologies developed by established companies, startups, or research teams are highlighted for their cutting-edge advancements and potential to impact consumers, businesses, and society overall. A panel of 18 Fast Company editors and writers selected this year’s winners, featuring both industry titans and fledgling brands.
Omnisient was selected from three honorees as the winner of the Social Good category for the impact its privacy-preserving data collaboration platform is having on growing financial inclusion. By protecting consumer privacy and removing the risks traditionally associated with data collaboration, Omnisient is enabling banks and financial services institutions (BFSIs) to collaborate with consumer businesses – such as retailers, telcos, and health & wellness business – to identify behaviour patterns within their consumer data that can inform risk decisions on premiums, underwriting, and credit offers for new clients, especially those previously excluded because they lack data footprints within conventional data sources.
To date, through collaboration on the Omnisient platform with a leading retail grocer, banks have analysed the shopping behavior of eight million people who previously lacked a credit score due to lack of credit history. Of these, 3.2 million individuals who would have historically been denied credit, now qualify for life-changing credit.
“Fast Company’s editors and writers spend every day thinking and writing about innovation and leadership, so their selection of Omnisient as a “Next big thing in Tech” is truly validating for us,” says Jon Jacobson, CEO and co-founder of Omnisient. “This recognition validates the innovative nature of our technology and the methodology we use to discover the kind of ground-breaking insights from consumer data that can lead to transformative change in people’s lives.”
“The Next Big Things in Tech is not just a look around the corner—it’s a look around the corner after that,” says Brendan Vaughan, editor-in-chief of Fast Company. “These are the products and ideas that will define technological innovation for the rest of this decade and beyond—and solve some of the world’s most pressing issues. Each reflects fresh thinking and cutting-edge technology in ways that impressed us.”
