About Mydex CIC
Mission
To empower individuals to manage their lives more effectively through convenient, trustworthy access and control of their personal data and how it is used by them and others.
Vision
The emergence of a world where individuals are in greater control of their lives with the freedom to choose how and what personal data to share in order to have a balanced relationship with each other, society as a whole, governments and organisations.
Values
Individuals own their own data, and proof of identity. They have a right to choose privacy, assert proof of claims and to invoke the level of sharing they wish. Basic human rights extend to the digital realm.
Strategy
To create, evolve and maintain a secure, trustworthy and convenient open personal data ecosystem that achieves our mission, realises our vision and aligns with our values.
The Foundations of Trust:
Security, Transparency & Control
When Mydex came into being in 2007, its founders made a number of important decisions. These decisions are what make Mydex remain unique even in today's blossoming personal data ecosystem. It had to be free to individuals for life, the data had to be under their control, and Mydex as a company had to be self-sustaining and protect its core values. These prerequisites guided the evolution of Mydex: a Community Interest Company, a Social Enterprise and its range of trust platform services for citizen controlled storage and exchange of personal data, identity and engagement, in a safe, secure and easy manner. We are working to improve outcomes for individuals and organisations alike.
Sustainability
It was vital to us that a Mydex Personal Data Store and MydexID could be with you for life. This meant putting safeguards in place to preserve the integrity of the company, and ensure that the business model could sustain itself. This led us logically to create Mydex as a Community Interest Company the 'CIC' in our name. The most important elements of being a CIC are as follows:
- The company has a dividend cap: we must reinvest 65% of our profits back into the company.
- We are asset locked we cannot be bought by a company which is not similarly asset locked, and which does not share our stated social purpose.
To see more about our business model and how we sustain ourselves, read our page 'Sustaining Mydex'.
Our Community Interest Statement
As a community interest company, we must provide a statement about the benefits we provide to the community we serve. Ours can be found below:
"We, the undersigned, declare that the company will carry on its activities for the benefit of the community we serve, which is made up of individuals in all contexts of their lives. The company’s activities will provide benefit to individuals seeking to better manage their personal data by helping them assert greater control over how this data is used by organisations and realise the potential value of this data. Mydex CIC provides personal data management services and a safe, secure and convenient means for individuals to electronically share information with chosen organisations."