Oliver Wyman May 22, 2023
Assessing best practice evolution and capitalizing on it
Five years on from the introduction of the General Data Protection Regulation (GDPR), financial institutions continue to face significant data privacy risks.
The challenges aren’t new — the key principles of GDPR still hold true — but they are growing in quantum and complexity, and at pace. Almost all leading European financial institutions have publicly announced strategies to become more data driven. They have seen the customer growth that big tech companies have gotten over the last decade using customer data to design new products, propositions, and experiences and have felt an urgency to invest in their customer data capabilities. But with more data about your customers comes greater data privacy risk,...
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