The bad news first: Insurers are required by no later than 25 May 2018 to provide their customers with more extensive information than before about the transfer of their data, even in the case of credit inquiries and as early as the application process. We recommend a one-page information sheet or – if contracts are processed digitally – a link to the required information. The same applies to...
With the revised Payment Services Directive (PSD2) set to come into force in the new year, much has been made of how banks will be nervously looking over their shoulders. And with good reason given that they will be forced to share their customers’ data with a host of new players looking to compete with them across a range of financial products and services.
These include account information...
How did data protection become the words on everyone’s lips?
The concept must have received more attention in the past year than the whole previous decade. Frankly, before the GDPR, the issue of data protection was not given much thought at all in most businesses. So, why the change? Well, the regulation’s draconic maximum fines have surely contributed – up to 20 MEUR or 4% of last...