B2B Navigator’s Post

GDPR requires organisations to not keep personal data any longer than necessary for the purpose(s)s the data is processed for. Sounds simple, doesn’t it? How do we make decisions on how long data should be kept for? 1. Does the law tell us how long to retain certain records? Sometimes there will be a legal or statutory requirement to retain personal data for certain purposes. 2. Are there industry standards, guidelines or known good practice? In regulated sectors such as finance, health and manufacturing there may be agreed industry standards or agreed professional practices which recommend and/or can justify retention periods. 3. What about… everything else? You’ll need to assess what’s necessary, proportionate and reasonable to retain. For example you might take into consideration business drivers for retention, a product lifecycle, a legitimate need to keep data, the ability to handle queries/complaints, the risk to the business of not having this data anymore and so one. Read more on how to assess retention periods ☛ https://lnkd.in/emkwFerE #dataretention #gdpr #dataprotection

With all the changes in GDPR regulations, it's important to use the most effective yet safe tracking methods in your marketing efforts. Swipe through to learn the difference between cookie-tracked data & payment-linked data, and learn which one's the most efficient for your business. #RewardsProgram #GetRewards #OpenBanking

💡3 valuable tips for negotiating a data processing agreement, from GDPR & Compliance Specialist, Helle Dollerup Mortensen. 1️⃣ Use standardised templates as a starting point (either national or European) then the most important points are already covered. 2️⃣ Be as specific as possible in your descriptions, so that the transfer of data takes place in a reassuring manner. 3️⃣ Don't make more demands than necessary. If you want more advice on negotiating the DPA, read: The Battle of the Data Processing Agreement right here: https://lnkd.in/ghs8Kjkz #dataprotection #dataprocessingagreement #vendormanagement

According to article 3 of GDPR ( General Data Protection Regulation ), This Regulation applies to the processing of personal data of data subjects who are in the Union by a controller or processor not established in the Union, where the processing activities are related to: ➡️ the offering of goods or services, irrespective of whether a payment of the data subject is required, to such data subjects in the Union; or ➡️ the monitoring of their behaviour as far as their behaviour takes place within the Union. What does it mean ? 🤔 It only means if your company is not established in the European Union ( EU ), but its activities involve processing personal data of data subjects, all those processing of datas should be complied to GDPR.☑️ Then are you all complied to gdpr?🤔 #gpdr #data

As a #StakeholderEngagement professional in the EU, you're operating as a data controller. Download our guide to: ✔️Understand your role as a data controller ✔️Learn about stakeholders' rights under GDPR ✔️Gain access to the best practices checklist https://hubs.ly/Q02CKs9s0

It's interesting to see the parallel between the introduction of GDPR in May 2018, and the run up to the new ISO20022 payments framework, set for May 2025.   🤔 Is history set to repeat itself?   The release of the GDPR framework in 2018, saw businesses scrambling to become compliant in the last few months of the new mandated regulations; 60% of tech companies said they were unprepared for critical changes.   That issue was, no-one thought GDPR would be relevant to them… we're in the same position with ISO20022.   Payment System Regulators are expecting ISO20022 compliance by 2024, with a final deadline set for May 2025 - Are businesses going to align with the regulators, or are we going to see this same rush to implement last minute change like we did with GDPR? ⌚   Failure to comply with new regulations means that your payments WILL NOT be sent.   How are you preparing for ISO20022? 🗣 #ISO20022 #BankOfEngland #PSR #PayUk

GDPR has disrupted Data Management, demanding innovative solutions. GDPR isn't just about penalties. It's about building trust, nurturing customer relationships, and protecting data. The power now lies with the customers. They decide what information they receive. Transparency is key. Enlightening customers about their data use bolsters credibility. Thorough documentation of data processing isn't optional - it's required, helping to avoid future legal issues. GDPR is more than a momentary challenge, it's a standard to meet. Ready to embrace GDPR? Start now.

The post outlines six key principles for processing personal data. These principles are the foundation for GDPR compliance and are crucial for organizations to embed into their data handling practices.

Today’s session, The Data Mapping Blueprint: Stay GDPR Compliant and Confident, was packed with valuable insights on how to confidently manage your data while staying compliant with GDPR regulations. We focused on building a solid data mapping strategy to help you avoid fines and ensure proper data handling. Here’s a quick recap of the key points: ⏯▶ Understanding Data Mapping: Why it’s essential for GDPR compliance and how it tracks your data flow. ⏯▶ Key Components: The core elements every data map should include to safeguard personal data. ⏯▶ Compliance Benefits: How effective data mapping ensures you meet GDPR requirements and stay audit-ready. ⏯▶ Tools and Techniques: A brief look at the best resources for streamlining your data mapping efforts. ⏯▶ Confidence in Compliance: How a strong data map can simplify compliance and boost trust within your organisation. If you'd like the full slide deck and the recording, type REPLAY in the comments! #GDPR #DataProtection #Compliance #Leadership #BusinessGrowth

As a #StakeholderEngagement professional, you will manage small or large amounts of stakeholder data at some point. If any of your stakeholders are in the EU, you need to understand your role as a data controller and how to comply with GDPR. But don't worry—we've got you covered! Download our free guide to help you ensure GDPR compliance with the stakeholder data you manage. https://hubs.ly/Q02xr4f30