How does Mydex CIC make its money?

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If a Mydex PDS is free to members, how does Mydex CIC make money?

Thu, 20/11/2014 - 12:04

Anonymous (not verified)

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Short Answer

We operate a simple pay as you go model. Organisations pay a low cost initial connection fee per service they connect to the Mydex Platform and then pay per customer they connect to whether for personal data or identity services.
That initial connection fee then becomes an ongoing annual support fee from year 2 onwards of about 4 pence per year per customer which when you consider the price of stamp is an amazingly low figure. If an organisation either charges the individual for their service or pays an individual for their data we charge the organisation a small % transaction fee as well, but we never charge our members, as they are the community we serve.

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Thu, 20/11/2014 - 12:04

MydexCIC

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More Details

Mydex CIC has no data rights or access to the data, it is a zero knowledge platform. We are the exception that proves the rule oft quoted by others that “if you are not paying, you are the product”. Our members are not the product, they are the community we serve. As a CIC we are asset locked, we cannot be sold and there is no trade sale or flotation in our future, we are here for the long term. We don’t do consultancy or develop apps or chargeable services, we just operate the Platform and Trust Framework.

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Thu, 20/11/2014 - 12:04

MydexCIC

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