Data privacy

International banks are also having to adapt to a raft of regional payment and data regulations that impact their operations in certain territories significantly but in others only negligibly, according to Russell Bennett, chief technology officer of Fraedom.

The GDPR doesn’t mandate how data requests should be made, but it does say that organizations handling personal data should be prepared to handle the requests. One would be right to wonder whether companies are as prepared as they should be.

Whatever the reason that Plaid, a prominent data aggregator, can no longer access data from Capital One, the situation demonstrates how fragile fintechs are when they lose banking access.

As Nvoicepay expands, the payment automation company is keeping an eye on how it may fall under European data rules that have a knack for requiring compliance even from companies that should be exempt.

Whatever the reason that Plaid, a prominent data aggregator, can no longer access data from Capital One, the situation demonstrates how fragile fintechs are when they lose banking access.

The measure, which has been compared to the EU’s new consumer privacy rules, grants Californians new rights over how companies collect and use their personal data.

Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.

A ballot initiative that taps into the public's anger about online data abuses has qualified for the November ballot. But lawmakers are considering whether to head off the statewide vote by passing a measure that may be more amenable to the financial industry.

The rules are a chance for card issuers to update their data management, which would be helpful in sales and cross-selling, according to Michael Hiskey, head of strategy at Semarchy.

Protecting customer data should have always been a priority for companies. With GDPR, they now have a framework for teams across the organization to adopt and protect their customer data, writes Shanthala Balagopal, a product marketing executive at Helpshift.