In a statement, the company said the Senate Matching technology was a more secure, decentralised alternative to hashing and encryption methods which relied on some form of personally identifiable information being present or referenced.
It is currently available to select partners and customers and more companies will be added to the network over the next few months.
Using Senate Matching, datasets could be de-identified and matched, without PII having to leave an organisation's secured IT environment.
"With the launch of this new technology, we’re hoping to set a new standard for PII management in data matching and sharing; customer PII should never, in any form, leave your organisation.”
After the de-identification of datasets, Senate Matching allows matching to be performed using decentralised tokens to confirm a match, in place of PII. The decentralised network is claimed to significantly reduce the risk of customer re-identification or data breaches.
The company's statement said Senate Matching would be used in conjunction with Data Republic’s existing legal framework and governance platform for data sharing.
"Customer consent for matching is required and data owners retain complete control of shared datasets, match requests, permitted-uses, licensing terms, and audit logs for all matched analytics activity," it added.
Data Republic co-founder and chief executive Paul McCarney said: “Protecting customer privacy has always been central to Data Republic’s technology mandate. This is the next big step in our journey to take PII out of the data economy.”
Data Republic is a Sydney-based start-up backed by Westpac, Qantas Loyalty, NAB, Qualgro and ANZ.