XOR Data Exchange, Inc.

XOR Data Exchange, Inc. operates as a permission-based data exchange, aggregation, and analytics firm, founded in 2014 by Mike Cook. Cook, serving as CEO, brought extensive experience to the venture from previous senior roles at ID Analytics, Innovis, Experian, and American Express, deeply embedding the company's DNA with expertise in fraud analytics and credit risk management. The Austin-based company was established to address the challenge of sharing proprietary data for mutual benefit without relinquishing control.

The firm's core business revolves around a platform that facilitates secure, cross-industry data sharing with granular, permission-based controls and a full audit trail. This allows data owners to specify precisely who can access their data and for what purpose, aiming to enhance credit and fraud risk management, authentication, and marketing efforts. Clients are primarily in the financial services, telecommunications, retail, and utilities sectors, who use the service to monetize their proprietary data and mitigate risk. The business model is structured as Data as a Service (DaaS), helping organizations optimize and monetize their data assets by combining them with information from other companies.

A key product developed by the company was the Compromised Identity Exchange, launched in May 2016. This platform synthesizes data from breaches with ongoing fraud analysis to provide banks and lenders insight into accounts carrying a higher risk of fraud. To bolster this service, XOR also deployed a patent-pending platform called Lumen, which scrapes the Dark Web and other internet marketplaces for stolen personally identifiable information to proactively identify and prevent fraud. In August 2018, XOR Data Exchange was acquired, marking a significant milestone in its journey.

Keywords: permission-based data exchange, data aggregation, fraud analytics, credit risk management, Compromised Identity Exchange, data monetization, cross-industry data sharing, Mike Cook, secure data sharing, data controls, audit trail, financial services data, telecom data security, Dark Web intelligence, identity theft prevention, data as a service, DaaS, second-party data, predictive data, risk mitigation