SAN FRANCISCO, June 7, 2017 /PRNewswire/ -- TRUSTe, the data privacy management company, announced today the company has changed its name to TrustArc to reflect its evolution from a privacy certification company into a global provider of technology-powered privacy compliance and risk management solutions. The name change also coincides with the company's 20th anniversary of delivering innovative privacy solutions. The name change was announced at the Privacy Risk Summit in San Francisco, the company's annual conference bringing together clients, partners, and industry experts to discuss market trends, best practices, and cutting edge solutions to address emerging privacy challenges.
Scott Taylor, AVP and CPO for Merck said, "Privacy continues to be a top priority for Merck and we use the TrustArc platform along with TRUSTe certifications across our business to manage privacy accountability, global interoperability and compliance. The name change to TrustArc is a great reflection of the broad range of solutions they offer and that we've benefited from for a number of years."
Founded in 1997, TRUSTe is best known for the iconic green seal displayed on thousands of sites and apps worldwide over the past 20 years. While certifications are still an important component of many privacy programs, managing compliance and risk has become increasingly complex due to new regulations such as the GDPR, cyber security concerns and increasing volumes of personal data collection. Businesses now need a wide range of technology solutions and consulting services to help them design, implement, and manage their enterprise privacy programs.
Trevor Hughes, IAPP President and CEO said, "TRUSTe has had a strong history in the privacy field for the past two decades. Our field continues to grow and mature, and the change to TrustArc reflects another step forward for a valued partner. We look forward to TrustArc advancing solutions that help organizations manage privacy in ever more efficient and effective ways."
Chris Babel, TrustArc CEO said, "TRUSTe has been at the forefront of the data privacy management market for two decades and we are just as committed to the market as we were on day one. Today's move to the TrustArc brand is a natural next step in our ongoing evolution as an innovator and industry partner to the thousands of customers and partners worldwide that rely on us for their privacy compliance needs. With TrustArc's next-generation cloud platform, we will continue to power the solutions the market needs today and tomorrow."
TrustArc will become the new corporate name and used for technology products and consulting services; the TRUSTe brand will continue to be used for Certification offerings.
In conjunction with the Privacy Risk Summit, TrustArc released the results of a survey of 204 privacy professionals, examining their perceived challenges and need for resources. Fielded in May 2017 with Dimensional Research, the survey results reveal that a vast majority of the respondents find that managing data privacy is increasingly important (96%), and increasingly complex (98%). 95 percent have a growing need for technology solutions to manage data privacy. 83 percent expect to make at least a six-figure investment to manage privacy compliance with the GDPR, while nearly one fourth of respondents plan to spend more than $1M on privacy solutions to comply with the GDPR. The survey data validates the growing market demand TrustArc has experienced for new technology solutions and consulting services to help businesses address global privacy compliance and risk management challenges.
To learn more and download the complete survey report, please see here.
For additional information on the TRUSTe transition to TrustArc, please see our blog post.
TrustArc powers privacy compliance and risk management with integrated technology, consulting and TRUSTe certification solutions – addressing all phases of privacy program management. The foundation for our solutions is the TrustArc Privacy Platform which provides a flexible, scalable, and secure way to manage privacy. Our technology platform, fortified through six years of operating experience across a wide range of industries and client use cases, along with our services, leverage deep privacy expertise and proven methodologies which we have continuously enhanced through thousands of client projects over the past two decades. Headquartered in San Francisco, and backed by a global team, we help over 1,000 clients worldwide demonstrate compliance, minimize risk, and build trust. For more information, visit www.trustarc.com.
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