The General Data Protection Regulation (GDPR), which enters into force on 25th of May 2018, aims to increase in all EU’s companies the privacy rights and obligations to protect personal data. Whereas most organizations see the new regulation as a burden, very few see an opportunity to seize to turn their data into assets, and step into the digital revolution.
GDPR is not just a regulation that sets ground rules to protect individual’s personal data. It sets a common ground to “All” to operate and make usage of the data effective in a consistent and responsible way. All industries will have to invest that way, and here is the opportunity! Implementing GDPR should not just be a one-off exercise driven by regulatory purposes only; it should be part of a broader strategic program to transition your organization toward digital and recalibrate your interactions with your customers. In other words, operating a Digital Transformation.
While success of a Digital Transformation is tightly linked to the ability to leverage and fully exploit your data capital, related data management programs are designed to protect, secure and enhance these assets. GDPR requires you to better manage your customer’s data, to ensure adequate data quality, moreover to rethink the way IT designs and stores customer’s data; GDPR is a first step toward governing you company data assets.
New Access, as a leading player in the Banking Software Industry strives to support its customers toward better data driven approaches. We are strongly convinced that establishing such data governance and data driven strategies will put our clients in a competitive position. New Access is partnering with consulting firm Wavestone for its regulatory market screening and digital innovation consulting to ensure future releases are set to unlock the potential of your data, while ensuring compliance with Data Privacy regulations.