Author: N/A
Publisher: KPMG International
Publication Year: 2019
Summary: The following article is written by KPMG Digital and Technology Department employees. It touches on financial institutions’ principles, policies, and data ethics guidelines. The report points out how the financial industry should be transparent about what data it collects and utilizes. The authors also talk about how the General Data Protection Regulation (GDPR) should be implemented in the financial sector and what risk and management frameworks should be used to address potential problems that might arise during data collection and utilization. The authors also point out that with ubiquitous data collection, many companies are now running serious reputational risks if found negligent with personal data usage.