In a prepared statement, EnfoTrust president and co-founder Nicholas Steele said that the company will use the funds for developing and deploying its technology and products. Via the technology, enfoTrust business and government partners can offer free information accounts to customers. XML stands for extensible markup language, which allows for creating data in common information formats. The data can then be accessed on the Internet, intranets and elsewhere.
Users can access or update their stored information at any time via a personal ID and password.
After completing the application, a pop-up box will ask the customer if they wish to store the information in a secure vault for later use. If the customer chooses to store the data, they can later access the information at other enfoTrust partner sites or for future applications. Could face off with Microsoft Steele said that security is a primary concern for enfoTrust and that no one else, including enfoTrust, will have access to customer information. Steele, however, believes enfoTrust has an advantage in that people may not want a company like Microsoft storing their personal data and would likely choose a neutral or third-party company for such a service. He even left open the possibility of partnering with Microsoft.