In December 2024, SITRA, the Finnish Innovation Fund, honored Prifina as one of the most innovative consumer data companies. We are thrilled to receive this recognition and remain dedicated to reshaping the personal data economy for the better.
Below is the English translation of a special article about Prifina which appeared on SITRA's webpage on December 11, 2023.
Prifina returns consumer data from major corporations back into people's control.
Prifina has built a solution where individuals manage their personal health and fitness data, for example, through their own data clouds. At the same time, it offers opportunities for all companies to build applications where they don't have to manage user data but instead access users' personal data clouds.
Prifina's goal is nothing less than a revolution in personal data management. For instance, when a person goes for a run wearing a heart rate monitor, producing personal data, currently, that workout information typically remains in the ownership of the software company providing the health app.
In Prifina's vision, the data doesn't remain with the app provider but is stored in the user's personal data cloud. So, the running app only comes to work and, once the workout is done, it leaves the measurement results to the customer. Prifina offers a place for this data as a service.
"The architectures, features, and pricing of major cloud services have evolved so much that it is possible to build infrastructure where people retain and manage their data. Applications simply use the data stored in people's personal data clouds," says Valto Loikkanen, Co-founder and Platform and Usability Architect at Prifina.
Prifina: Back to the Future
"Before, applications primarily ran on our computers, and we managed the associated data ourselves. Then the data moved to user accounts on the internet. An assumption arose that software companies owned user account data and used it in their business as they pleased."
Things can be different, and many would benefit from it. According to Loikkanen, many companies would gladly relinquish data management during tightening data protection regulations and data breaches, focusing on their core business.
Many people are also concerned that their personal health or driving data ends up with international data giants. The opportunity to control it is appealing.
Real-time and comprehensive insights into one's well-being
"We want consumers to derive value from their data primarily for themselves. Only after that comes data-driven business," says V. Loikkanen from Prifina.
Value can be generated in many different ways. Health and fitness data collected, for example, through location information and sensors can offer a comprehensive view of a person's activities, such as their well-being. Other types of data and use cases from various life areas, such as an automatic diary, can also be integrated into the solution, as discussed below.
Prifina's AI connected to the data cloud can provide recommendations based on the data to improve well-being or achieve fitness goals, for example. The more Prifina knows about its owner, the more detailed recommendations the user receives.
Prifina encourages third-party developers to create new services using individuals' data that operate privately within users' data clouds. If they wish, data cloud owners can share their data for free or for a fee outside their own data cloud for the use of companies or researchers if it makes sense to them.
The data ownership revolution begins in 2024
If in the future, apps visit the data, app marketplaces will also change. In Prifina's app store, consumers can buy apps built on their personal data.
Consumers pay Prifina for the use of their own data cloud and for the apps to their developers, as they do today. Of course, there are also free apps available. The app provider, in turn, pays Prifina a commission for using the marketplace.
"There are so many opportunities associated with personal data ownership and utilization in software development that we cannot and do not want to come up with all of them ourselves. That's why it is essential that anyone can build and publish various services on top of Prifina's data clouds," says V. Loikkanen.
So when will the data ownership revolution become visible and audible to consumers?
According to Loikkanen, Prifina has been prepared determinedly but without haste.
At the turn of the year, Prifina will launch a diary app that automatically writes diary entries based on phone location data, pictures, and the calendar, which the owner can then enrich.
In the initial stage, the diary app's data will remain on the phone, but gradually Prifina will start offering data cloud as a location for the data. The goal is that people understand the benefits of the service and become interested in other apps developed around the idea of data ownership.
So, the diary app is the first directly consumer-focused step in Prifina's revolution. In other respects, Prifina has been developed in cooperation with various app developers and companies for a long time. The plan is to launch the service as a whole when there are more apps available that illustrate the use of personal data between different apps.
Prifina aims for a data ownership revolution
Prifina, soon to be launched on the market, is a solution that offers consumers data clouds. With these, they can manage their personal data. Prifina enables individuals to combine various data sources, such as health and fitness data, to gain a more comprehensive picture of their well-being.
Additionally, Prifina offers a marketplace for software companies where they can sell applications that do not store people's data on company servers but use individuals' own data clouds in their operations. Consumers can purchase these apps for their use.
What they're saying about Prifina's solution
"We want to offer our users a unique user experience where our skiing products, such as boots, have sensors that, based on their data, allow us to provide, for example, digital skiing instruction and improve safety on the slopes. Through collaboration with Prifina, we avoid significant investments and costs related to data management. With Prifina's help, we can demonstrate that we respect our customers' privacy." -Hans-Martin Heierling, Founder, Swiss skiing brand Heierling"