GDPR: Data Privacy Laws in Financial Services

Perficient Data & Analytics

My previous blog post addresses the reasons for the regulation and the requirements associated with the New York State Department of Financial Services (NYDFS) 23 NYCRR 500. Data protection must be designed into the development of business processes for products and services.

Embracing new ways of working in financial services


Embracing new ways of working in financial services. In times of crisis, the preservation of key functions and services is critical, regardless of industry. Customer service. One of the key reasons for having a face-to-face meeting is to build trust.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Meet Perficient’s Chief Strategists: Arvind Murali

Perficient Data & Analytics

By focusing on the business outcomes, we can build and implement data solutions that are broad enough to meet clients’ current needs and nimble enough to scale for future iterations. These questions define our approach to creating data governance solutions that meet clients’ specific goals.

MDM 65

Leveraging Blockchain Integration to Meet Information Governance Challenges


Blockchain integration is one of the hottest technology topics in the business world today, with financial services and healthcare sectors leading the way in exploring how to integrate blockchain into their organizations. A Financial Services Roadblock.

NYDFS 500: Why the Regulation?

Perficient Data & Analytics

Previously, I discussed data privacy laws, specifically involving New York State Department of Financial Services (NYDFS) 23 NYCRR 500. All covered entities must adopt a cybersecurity program that meets the following minimum requirements based on the covered entity’s risk assessment.

Pandemic Highlights Mortgage Servicing Rights Ownership Issues


During the Great Recession, the ownership of mortgages and mortgage servicing rights became a problematic issue, due to the common practice of loan originators repackaging and selling loans to servicing firms who, in turn, often sold them again. Meeting the Challenges.

Paper 61

MY TAKE: Identity ‘access’ and ‘governance’ tech converge to meet data protection challenges

The Last Watchdog

Related: Applying ‘zero trust’ to managed security services. Our customers all have the pain point of wanting to have single sign-on for multiple applications, requiring capabilities like self-service and self-registration,” Curcio told Last Watchdog. Meeting compliance. The accelerated use of third-party software development and cloud services only exacerbated this core dilemma.

Access 143

The Most Valuable Benefit of Salesforce Financial Cloud

Perficient Data & Analytics

How familiar is your organization with the flexibility and integration Financial Services Cloud offers? The solution helps improve the customer experience, strengthen client relationships, and drive new business by integrating sales, service, and marketing. Meet Our Panelists.

Cloud 52

Epson Provides Support for Financial Institutions with Reliable Document Scanners to Streamline Workflow

Document Imaging Report

June 18, 2020 – In the current climate, financial institutions must quickly adapt to distance banking practices to ensure employee and customer health and safety. offers cost-efficient document scanning solutions to meet this need. Press Releases financial services scanners

Paper 52

Archives Records 2018 RMS Annual Meeting

The Schedule

Nearly 200 peers came together last Friday in Washington, DC, for the joint meeting of the Acquisitions & Appraisal and Records Management Sections.


Regulatory Update: NAIC Summer 2019 National Meeting

Data Matters

The National Association of Insurance Commissioners (NAIC) held its Summer 2019 National Meeting (Summer Meeting) in New York City from August 3 to 6, 2019. The Summer Meeting was highlighted by the following activities. The New York State Department of Financial Services recently amended its annuity suitability regulation to apply a “best interest” standard in connection with both life insurance and annuity transactions with consumers.

Paper 65

A Look Into One Bank’s Digital Transformation


NatWest is using AI, big data, and chatbots to create new services and meet customer expectations. Financial Services News banking banks Digital transformation NatwestGartner predicts that 80% of traditional banks will go out of business by 2030. One bank is working to make sure it sticks around by starting its digital transformation journey. Learn more here.

Meet Perficient’s Chief Strategists: Christine Livingston

Perficient Data & Analytics

We’re seeing many companies starting to deploy artificial intelligence within customer service functions or on the customer experience side to drive true omnichannel, consistent experiences across all those entry points. For financial services, your financial advisors are the SMEs.

Alliance Bank Improves Customer Experience with Ephesoft’s Intelligent Capture Solution

Document Imaging Report

Ephesoft is able to meet our requirements and is versatile to scale with us as we continue to transform our business processes to deliver faster, simpler and more responsive customer experience to our clients,” said Mr. Joel Kornreich, group chief executive officer of Alliance Bank.

7 Reasons Why Businesses Should Adopt A Modern MDM Platform


A leading pet specialty retailer leveraged data to tackle Amazon Effect and transform into a customer-centric service company. Ankur Gupta, Sr. Product Marketing Manager, Reltio.

MDM 67

Lagging P&C commercial firms bet on analytics, core for digital transformation

Information Management Resources

Commercial lines Insurtech Property and casualty insurance Workers' compensation Insurance technology Financial services Core conversions Customer experience Strategy Meets ActionInnovation teams understand that the connected world is evolving rapidly, and that competition is coming from industry newcomers as well as incumbents.

Improve your data relationships with third parties


Regulators are focusing on the data relationships financial services organizations have with third parties, including how well personal information is being managed. Others are realizing that they need to outsource critical services to specialist service providers. .

Business Process Modeling Use Cases and Definition


Business process modeling helps organizations prove what they are doing to meet compliance requirements and understand how changes to their processes impact compliance efforts (and vice versa). What is business process modeling (BPM)?

Grove Pension Solutions fined £40,000 for PECR violation

IT Governance

The ICO’s d irector of i nvestigations and i ntelligence , Andy White , said : “Spam email uses people ’ s personal data unlawfully, filling up their inboxes and promoting products and services which they don’t necessarily want. . “We

Reltio Cloud – Your Key to a Successful SAP S/4HANA Migration


You can now introduce new applications much more rapidly to meet your changing business needs because you have the data available for all to use in a separate intelligent container. Guy Vorster, Principal Solutions Consultant, Reltio.

Kali Project Encryption and Isolation Using Vagrant and BitLocker

Perficient Data & Analytics

To meet our requirement of “encryption at rest”, we’ll need to apply storage encryption. Imagine that you work on different engagements or projects in which Kali Linux is one of your primary tools.

President Trump Signs Financial Services Regulatory Reform Legislation

Data Matters

The Act makes many significant modifications to the postcrisis financial regulatory framework, although it leaves the core of that framework intact. One major consequence of the Act may be an increased potential for mergers, acquisitions and organic growth among regional and midsize banks, as well as community banks, because of provisions that increase the thresholds that must be met before various financial regulatory requirements apply. Initiating Online Banking Services.

Fujitsu Computer Products of America, Inc. introduces the highly versatile fi-800R, an ultra-compact document scanner designed for today’s scanning challenges all while maximizing workspace

Document Imaging Report

“As the smallest image scanner in its class* 1 , the fi-800R is great for limited workspaces like reception desks and service counters,” said Yasunari Shimizu, President and CEO of FCPA. “To Press Releases financial services healthcare Retail scanners

Identifying E-signature Requirements to Accelerate Digital Adoption and Meet Global Compliance


In a recent AIIM webinar, Craig Le Clair, Forrester VP and Principle Analyst, and Florian Vondal, Allianz Solution Architect, took a closer look at the “esign of the times” and what must be considered when attempting to accelerate e-signature adoption enterprise-wide and meet global compliance.

Is Your Customer Experience Future-Ready?


It is an ongoing activity, constantly responding to the changes in market and customer expectations, new products and services, and technology evolution. Can you discover, validate, and scale innovative use of existing and new data-sets to deploy products and services faster?

Mortgage Records: A Good Time to Review Storage Processes


Paid tax receipts, payments made, late charges, communications regarding any delinquencies, monthly and annual statements, tax documents — these servicing history records and any other collateral material need to be added to the permanent file as they’re generated. Financial Services financial mortgage records record storageDo you know where your customers’ mortgage records are?

Digital Intelligence and the Role of Data in Personalization

Perficient Data & Analytics

We see CXOs – from retail and financial backgrounds – get hired on in healthcare spaces and tasked with digital disruption in Healthcare organizations, and beyond. Organizational Hiring: 4 Things needed for Smarter Organizations to meet and beat their goals.

Need BI? Get Trusted Analytics Advice by Experts, for Experts

Perficient Data & Analytics

MicroStrategy provides a range of tools and capabilities to meet this need head on. When it comes to business intelligence, where do the experts go to learn? The answer is Perficient.

AllianceBernstein’s Mobile App Empowers Sales Teams in Real Time

Perficient Data & Analytics

Meet SIMON (Sales Intelligence Mobile Optimized Network). Cloud Data & Analytics Development Financial Services Integration & IT Modernization MicroStrategy Mobile Salesforce alliancebernstein dreamforce field sales Sales sales app salesforce simon

Sales 54

Streamlining the Manufacturing and Automotive Treasury Function

Perficient Data & Analytics

A comprehensive finance and treasury transformation program can help improve cash and liquidity management, reduce manual processing, automate financial and risk reconciliation, and accelerate financial close.

Reltio Supports Apple CEO Tim Cook’s Clarion Call for Stronger US Customer Data Privacy Laws


Data as a Service with traceability : Drawing from third-party sources is a major benefit, but GDPR compliance requires tracking which attributes came from where. Compliance towards protecting customers’ privacy is a journey not a destination – get the right platform in place today so you can meet any regulation or concern that they might have. Manish Sood, CEO & Founder, Reltio. Apple CEO Tim Cook’s call for a U.S.

6 Best Practices for Your CECL Response Program

Perficient Data & Analytics

Understanding the new current expected credit loss (CECL) regulation, how it impacts an organization, and how to go about implementing and managing a response program will be critical for firms carrying financial assets covered by the accounting standard update. Evaluating where a financial services company stands today and where it needs to be in relation to CECL is of paramount importance in the early phase of the company’s compliance.

Risk 40

Why Reltio is All-in on Salesforce Customer 360, and the Adobe, Microsoft, SAP Open Data Initiative


The single customer 360 ID will enable companies to access customer information through Salesforce’s various applications including Sales Cloud, Service Cloud, Marketing Cloud, and Commerce Cloud. As these numbers are growing by the second, our multi-cloud platform supported on both AWS and GCP provides the elastic and scalable horsepower to meet demanding workloads, and the aggressive growth objectives of global enterprises. Manish Sood, CEO & Founder, Reltio.

MDM 59

Digital Enterprises: Built on Modern MDM


For Aaron, cloud economics is compelling, and the native cloud MDM must keep advancing in the next 2-3 years to meet market expectations while delivering business value. Ankur Gupta, Sr. Product Marketing Manager, Reltio.

MDM 52

Attracting and Cultivating Customers in the Insurance Industry

Perficient Data & Analytics

She said, “Meeting or exceeding our policyholders’ expectations at every touch point” helps “reinforce our strong brand.”. Attracting new customers and cultivating existing relationships by building a great customer experience is a certainly a recipe for growth and profitability. When speaking of customer experience, one typically thinks of the technology customers interact with, be it a website or a mobile app.

These 3 GDPR Requirements You Must Support Today are Nothing Compared With What’s Coming


Personal data includes a wide range of personal identifiers, from addresses and public information, to social profiles, images, IP information, device IDs and medical and financial details. While there are many tools being offered to meet GDPR and other regulatory requirements, companies should use a Modern Data Management platform that supports both offensive (e.g. Ramon Chen, Chief Product Officer, Reltio. On May 25, 2018 GDPR (General Data Protection Regulation) went into effect.


#ModernDataMasters: Tony Saldanha, President, Transformant


Tony Saldanha is the President of Transformant and a globally recognized information technology and shared services executive. I’ve had the great fortune of evolving with the IT and shared service industry across 6 countries and 13 different roles and assignments. Kate Tickner, Reltio.

How to make Puerto Rico your new crypto home

Perficient Data & Analytics

There is a long and nuanced discussion that starts with the preamble to their constitution but, for the purposes of this discussion, American citizens can also be considered bona fide residents of Puerto Rico if they meet the criteria specified in the IRS’s Pub 70. Meet the presence test, Do not have a tax home outside the relevant possession, and. Earned income is pay for personal services performed, such as wages, salaries, or professional fees.

Sales 40

DataStax Advanced Security : Eat your vegetables first

Perficient Data & Analytics

Sarbanes Oxley, Basel II, the Health Insurance Portability and Accountability Act (HIPAA), the General Data Protection Regulation (GDPR), and the Payment Card Industry Data Security Standard (PCI DSS) expose regulated industries to substantial reputational and financial risk. The assumption is that DSE is fast enough, resilient enough and scalable enough to meet your data requirements.

Cybersecurity Standards for the Insurance Sector – A New Patchwork Quilt in the US?

HL Chronicle of Data Protection

For example, the New York Department of Financial Services (‘NYDFS’) in March 2017 issued its Cybersecurity Regulation (23 NYCRR 500) (‘the NYDFS Cybersecurity Regulation’), a groundbreaking and far-reaching regulatory regime focused on financial institutions licensed in New York, including insurance companies.