The General Data Protection Regulation (GDPR), which is called one of the biggest reforms in the last 20 years to protect the privacy rights of EU citizens, entered into force on 25 May 2017. With data security at the top of the global technology agenda, the goal of GDPR is to ensure that personal data of EU citizens is appropriately handled.
What does “appropriately handled” mean?
As stated in Article 32 of GDPR, the whole processing of personal data must be secured by means of appropriate technical and organizational measures. Measures such as pseudonymization and encryption have to be considered as well as measures to ensure the confidentiality, integrity and availability of personal data. GDPR does not clearly define the level of security which is appropriate to the risks presented by processing. On this basis, the European Union Agency for Network and Information Security (ENISA) created guidelines on how to adopt security measures for the protection of personal data according to a risk-based approach. Furthermore, ENISA’s recommendation comprises two-factor authentication and mobile or web application security. Download our whitepaper to achieve best results in customer protection and data security with KOBIL regarding to GDPR and ENISA’s recommendations.
The revised Payment Services Directive (PSD2) is triggering a new era for banking. The directive is set to reshape banks’ positionig and is creating great opportunities for new business models. Three primary strategic roles are available for banks to comply with PSD2: Comply, Engage, Build. KOBIL helps organizations to fulfil these strategic roles and to comply with Regulatory Technical Standards (RTS) and General Data Protection Regulation (GDPR) by adding trust to digital processes.