With less than 200 days until the deadline to comply with GDPR, Brickendon takes a look at how the legislation will affect the financial services industry.
GDPR aims to create a standardised framework that will govern the way organisations handle data. The deadline for complying with the legislation is May 25, 2018.
Amid growing concerns surrounding the safety of personal data from identity theft, cyberattacks, hacking or unethical usage, the EU has introduced new legislation to safeguard its citizens. The EU General Data Protection Regulation (GDPR) aims to standardise data privacy laws and mechanisms across industries, regardless of the nature or type of operations.
So, what does the introduction of GDPR actually mean for financial institutions, and which areas should they be focusing on? Brickendon’s data experts take a look at five key areas of the GDPR legislation that will have the biggest impact on the sector.