As May 2018 approaches the EU General Data Protection Regulation (EU GDPR) is moving quickly up the agenda of most businesses. It’s also establishing an increasing presence in the mainstream media as consumers become more tuned in to what it means for them.
Wherever you are in your GDPR journey, an absolute must is having a good appreciation of the basic elements of the regulation so that you can plan accordingly. As a useful summary I’ve listed six important elements below, extracted from our whitepaper ‘Defining the data powered future’. I’ve also included some important areas of consideration for each which may help to focus your planning. Of course, it’s by no means exhaustive and we’d always recommend referring to the ICO for more detail.
Innovation isn’t anything new to Experian, in fact we’ve been listed in Forbes Magazine’s Top 100 “World’s Most Innovative Companies” for the past four years. I must admit however to being slightly sceptical when the idea of introducing a ‘robot’ into our team came up. Here’s some insight into what we learnt.
Banks and Financial Institutions are by now well versed with submissions to regulators both national regulators and to European Central Bank. However the launch of Anacredit regulations, brings a new dawn to the granular level of submissions to the regulators. In a nutshell, Anacredit is applicable for all institutions which has more than EUR25,000 credit risk exposure to a counterparty. No other regulation by ECB has mandated such a granular level of data requirement by financial institutions.
Performance may mean different things to different organisations but essentially it’s a measure of success that needs to be monitored, maintained and improved. In my role as Sales Operations Manager I spend a lot of time thinking about how we can improve our own performance. In my case that’s about how well our solutions help our customers to meet their requirements and in turn deliver for their own customers. When it comes to driving better performance, I would go as far to say that I am obsessed with it. I read blogs, books, am top mates with TED and even have my own website dedicated to it.