Tokenization platform turns sensitive data into non-sensitive data called tokens to increase data protection and reduce fraud risks in financial transactions. The original data is then safely stored in a centralized location for subsequent reference while businesses utilize these tokens to carry out their business activities. In addition, the tokenization platform enables merchants to adhere to industry and governmental regulations like GDPR, CCPA, PCI DSS, and HIPAA with minimum liability and security expenses. The typical users of the technology are financial institutions, real estate, banks, retailers, healthcare providers, insurance, and e-commerce companies. These businesses deploy tokenization to protect the personal information of their users, including credit card numbers, PANs, PII, and PHI.