Capital One’s software team has rolled out a powerful tool to help IT departments enhance data security through data tokenization. Their Databolt software is now available on two major platforms: Databricks and Snowflake.
So what does data tokenization actually do? It replaces sensitive information with a digital token, which has no connection to the original data. This process allows businesses to keep their sensitive data safe while still using it for analytics and application development. In a blog post, Capital One explained that tokenization helps protect data by using random substitutes instead of the original sensitive data.
Businesses can use tokenization in various areas, like securing corporate data during AI training or safeguarding personal information to comply with regulations such as the GDPR and PCI DSS. Unlike traditional encryption, tokenization is usually easier to integrate into current IT systems, allowing cybersecurity teams to minimize their data footprint and reduce risks from potential breaches.
One of the standout benefits is that tokenization keeps the original data’s length and format intact. This feature enables organizations to plug it into existing systems without disrupting their workflows. McKinsey predicts that the market capitalization of tokenized assets could hit around $2 trillion by 2030, largely driven by financial asset tokenization. Tokenization is also a key component for large language models, converting text into numerical values for processing.
With Databolt, companies can tokenize sensitive data directly within Databricks and Snowflake, making it simpler to secure this data at its source. This integration allows IT leaders to strengthen security measures without hindering innovation.
Desikan Madhvanur, Capital One’s senior vice-president and chief technology officer, emphasized the importance of this integration for businesses managing data across diverse ecosystems. It allows them to build applications and deploy AI models with greater confidence in their data’s protection.
Through Databricks’ Unity Catalog, Databolt offers capabilities for setting tokenization policies, managing user access, and configuring workflows. The solution is also available on the Snowflake Marketplace, leveraging Snowpark Container Services for seamless integration. This means sensitive data can remain within the Snowflake environment, enhancing security and efficiency.
By integrating Databolt on the Snowflake platform, companies can deploy their tokenization engines directly within their Snowflake setups, define tokenization access based on existing roles, and use custom functions for added convenience.