A Dutch investor will address the BDAR problem facing companies

Bron: VERSLO ŽINIOS        BDAR = AVG,  Algemene Verordening Gegevensbescherming


Hyarchis Baltic, a business software developer and information technology company, is launching a project to develop a solution for data anonymization using artificial intelligence. The shareholder of the company is VDD Iqware, registered in the Netherlands, working under the Hyarchis brand.

The entry into force last May of the General Data Protection Regulation (BDAR), which imposes extremely stringent requirements on companies regarding the collection, use and protection of personal data, poses many problems for companies and organizations because their archives do not comply with BDAR requirements.

“The solution under development introduces a whole new approach to document management related to BDAR regulation. Unlike the alternatives available on the market, the product will provide fully automated large-scale archival data processing via an artificial neural network and be applicable to a variety of industries and an unlimited number of document types, ”says Hyarchis Baltic. This technology is expected to change current trends in the marketplace and allow businesses to comply with privacy requirements without compromising historical archive
data integrity.

The cost of developing the app is estimated at over $ 1.8 million. EUR 1.1 million Eur is expected to come from the European Union Structural Funds under the Smart FDI Facility, which funds foreign direct investment in research and experimental activities. Israeli company in Lithuania to develop system for catching Internet trolls. The updated Smart FDI invitation is accompanied by objections to changing conditions. GRH LT, a developer of new building materials, has signed a million contract with the LPA Hyarchis Baltic was registered in Lithuania last spring. According to Andre van der Doelen, founder and CEO of Hyarchis, as talent is more difficult to attract in the Netherlands, the search has led to the formation of a team in Lithuania.

“We realized that we can attract the best talent here, which accelerates the pace of our product development. For us and other technology companies, Lithuania, and Kaunas in particular, is an undiscovered technology center, ”said A. van der Doelen’s words in a press release when opening an office in Kaunas.

Headquartered in Eindhoven, The Netherlands, Hyarchis also has an office in Amsterdam. The company develops and markets business communication and document management software used by 90% of financial services providers in the Netherlands. The number
of employees increased from 5 last year to 17 at present.