Join us Sept. 14-16 in Miami to connect with top publishing leaders
The race is on for banks to comply with the GDPR, the European Union’s landmark data privacy regulation.
On May 25, EU companies will no longer be able to collect and use personal data without the individual’s consent, under the General Data Protection Regulation. U.S.-headquartered banks and fintech companies with global operations are anxiously preparing to comply with the new rules, anticipating a time when U.S. customers will demand the same protections from their home institutions.
GDPR applies to any organization operating within the EU, as well as those located outside of the EU which offer goods or services to customers or businesses in the EU. “Personal data” can include basic personal identifiers like a name, photo, email address or bank details, as well as things like posts on social networking websites, medical information or computer IP addresses. Customers have the right to a copy of the data institutions keep about them, as well as the right to be forgotten, or demand those institutions delete that data.
For U.S.-based banks with a global reach, it opens up questions about how to handle EU customer data and make sure they obtain customers’ consent to collect and hold their personal information.
More in Marketing
Future of Marketing: Brands want creators who can win over humans and machines at once
Why creator briefs are starting to look like a map of AI search queries.
Ace Hardware adds weather-triggered programmatic ads to retail media strategy
Almost one year into its existence, Ace Hardware’s retail media network, RedVest Media, just announced a slate of new features for advertisers as part of an upfront event last week.
How every major platform pays creators
Every platform monetizes creators differently, with varying requirements and audience thresholds, and a propensity for change.