August 4, 2022
NachoNacho Taps Skyflow to Help Put Privacy First
NachoNacho is building the world's first and largest true B2B marketplace for SaaS subscriptions. In this post, we’ll look at why they chose Skyflow to protect sensitive customer data and help inspire customer trust.
NachoNacho is creating a central hub that harnesses the power of network effects for both SaaS buyers and sellers, making it easy for companies to manage their SaaS subscriptions, discover new ones, and get substantial discounts, all while sellers reach potential customers at a much lower customer acquisition cost (CAC).
The team at NachoNacho knew that building their own privacy infrastructure from scratch would be complex and resource-intensive, so they turned to Skyflow as a comprehensive solution for their privacy, security, and compliance needs.
“NachoNacho is building a marketplace, and to be successful, we need buy-in from SaaS vendors and users alike. They need to trust us. So we knew early on that we needed to prioritize privacy and have robust systems in place that could scale alongside us,” said Sanjay Goel, co-founder and CEO of NachoNacho. “Not only did Skyflow have the most comprehensive privacy and security solution, but they also had great implementation and product teams that helped set us up for success from start to finish.”
How Does NachoNacho work?
In order to purchase and maintain SaaS subscriptions for customers, NachoNacho handles customers’ sensitive financial data.
SaaS buyers configure their NachoNacho account to bill all subscription charges against a secure payment source. Buyers connect their payment source to their NachoNacho account using financial data and generate one secure virtual credit card per SaaS subscription. They can migrate all existing subscriptions to NachoNacho by changing the cards on file to virtual cards generated by NachoNacho.
Once set up, buyers can browse the NachoNacho Marketplace and choose from hundreds of SaaS products from the most trusted vendors. Buyers can pay any vendor they want upfront or with a pay-as-you-go model, using virtual credits with built-in charge limit protections. Most importantly, each of the carefully selected SaaS vendors listed on NachoNacho typically offers considerable savings: up to 30% lifetime savings in many cases.
The convenience and savings for SaaS buyers and improved reach for SaaS service providers is compelling for both parties. But to retain buyers’ trust, protecting the privacy of their customer financial data is essential.
Where Does Skyflow Fit In?
Skyflow Fintech Data Privacy Vault is designed to allow the secure use of sensitive data across systems and downstream applications. It helps fintech companies worry less about privacy, build better apps and systems more quickly, and enables the highest levels of data privacy and security. Skyflow also allows for granular governance controls along with in-depth data auditing and logging, making it a great choice to ease the burden of compliance with various data protection regulations like PCI DSS, GDPR, and HIPAA.
NachoNacho knows how important financial data privacy is to their business model, so they worked with Skyflow to isolate, protect, and manage sensitive customer financial data. But they also needed to ensure that while safeguarding this data, they could still use it. For example, the NachoNacho team needs to be able to share a given customer’s financial information with a financial institution to draw funds and complete subscription payments. Encrypting financial data at rest and in transit helps reduce the chance of a leak, but it can potentially limit data utility if encryption isn’t coupled with data protection techniques like tokenization.
Skyflow Fintech Vault lets NachoNacho initiate money movement transfers using tokens. Because NachoNacho can use tokens to exchange information with payment processors and debit user's payment sources securely, they can isolate financial data from their backend systems without losing functionality.
Getting Started with Skyflow
NachoNacho chose Skyflow because it has a developer-friendly API that was easy to implement. The process went smoothly – in fact, according to Alan Szternberg, co-founder and CTO of NachoNacho, “Getting up and running with Skyflow was easy, which meant we could focus engineering resources back on our core product.”
He continued, “NachoNacho’s marketplace is powered by fintech, and we needed a partner that understood and worked within the fintech ecosystem to ensure privacy is built into every transaction. Skyflow offered out-of-the-box proxied connections with fintech partners and the ability for us to create our own, ensuring that the solution fits seamlessly alongside existing architectures.” You can see a diagram of the resulting solution below:
To learn more about how Skyflow Data Privacy Vault can help your organization prioritize privacy, give Skyflow a try.