2nd Edition Operational Challenges for GDPR Implementation in Banks

This marus evans conference will show banks how to design an effective plan to tackle the implementation of GDPR by focusing on how banks are dealing with the most challenging requirements of the GDPR through set-up, practises, and system solutions. The conference will then relate this back to the impact the GDPR will have on banks as well as take a look at the GDPR within the wider framework of banking regulations.

In an endeavour to improve the protection of consumer data, the EU is passing a new regulation called the General Data Protection Regulation (GDPR). There has been little thought into how the GDPR fits in alongside the wider landscape of banking regulations as it is a one size fits all regulation for every type of institution, but more pressing of an issue is the gruelling task of meeting the requirements by the May 2018 deadline. The GDPR will fundamentally change the way banks capture, manage and store information and in order to comply banks may need to completely overhaul legacy systems and current practices. Addressing this regulation immediately is a must for banks as it is expected that banks will be the first to receive penalties for non-compliance and with severe penalties - up to 2% of global turnover - banks will want to leave no margin for error.