How to meet the challenge of EU data and privacy protection regulations with us.
General Data Protection Regulation (GDPR) & ePrivacy Regulation (ePR)
The EU’s General Data Protection Regulation (GDPR), in force as of 25 May 2018, is designed to give natural persons residing in the EU greater control of their personal data. The ePR, together with the GDPR, is one of the pillars of the EU’s digital single market strategy and consists of rules regarding the principle of confidentiality for protecting electronic communication. Knowledge Lab offers to support customers technically and professionally in implementing these complex requirements.
Insight & Action
Both GDPR and ePR stipulate that data belongs to the client along with all corresponding rights including the right to erasure, amendment, receipt or transfer. Financial institutions will have to analyze existing processes in relation to the collection and processing of personal data of clients, employees or any other data subject and/or in case of the ePR, extend the scope of such analysis to all processes involving any kind of electronic communication. Data identification, transfer and/or deletion across complex system landscapes is a major challenge, technically and processual.
Knowledge Lab has conducted an analysis of the GDPR and ePR and offers its customers advice on how to meet these regulatory requirements. An analysis of the processes and the system landscape in the context of a fact finding creates a common understanding and results in clarification and decision points, which subsequently define the project. The implementation project results in functional support and concrete technical implementation in the core banking system with possible extension to peripheral systems.