Exclusive: Leverate Joins Forces with Data Protection Provider LPS

Leverate, a brokerage technology provider, announced today that it has partnered with Leads Protection System (LPS), a data protection provider, to provide its clients with a technology solution that offers a high level of security.

The LPS system, which is powered by Payneteasy, is designed to protect leads and sensitive data. This is achieved by securing all communication channels using PCI DSS security practices, encryption and Tokenization Tokenization Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Read this Term methodology. Under the new partnership, Leverate will integrate the LPS system with the back-office solutions it offers to brokerages. The first brokerage to utilise the LPS system is Leverate’s LFS (Leverate Financial Services).

Commenting on the partnership, Boaz Gam, CEO of LPS, said: "We're very pleased that Leverate takes all precautions when it comes to their clients’ brokerages. Like any other platform provider, they want to do their utmost to ensure the success of their partners, and in this industry, lead protection is crucial to that."

Protecting client information

For brokers in online Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, one of the most valuable assets they have is their databases. As a result, hackers, ransomware and even employees of the broker can seek to compromise their database. General Data Protection Regulation (GDPR) in the European Union (EU) also demands that brokers adhere to strict standards in order to protect client information.

Because of this, brokers need to ensure that they have all the necessary measures in place to protect their clients’ information. With LPS, sensitive data from Leverate’s traders will be passed through their own private Amazon cloud which is securely encrypted. By doing this, only traders have access to their data and even LPS vendors cannot access the information, the statement said.

Speaking to Finance Magnates, Pantelis Christou, General Manager of Leverate Financial Services, said: “The LPS system is the most suitable solution we’ve seen in terms of protecting our traders’ data and fully addressing the new GDPR demands.”

Natalia Vizir, Chief of Revenue in Leverate, added: "We chose LPS because the system truly is all-encompassing in terms of protecting our client's leads," says Natalia Vizir, Chief of Revenue in Leverate. "It seems that LPS thoroughly understands the challenges that are present in the online brokerage business, and have tackled each one of them successfully.”