London, 16 January 2018 – The new General Data Protection Regulation will become effective on May 25, 2018. The GDPR’s objectives are to bring European Union law in line with the technology revolution that has fundamentally changed data processing and to further harmonize data protection regulation in EU member states. Now that the deadline of GDPR implementation is approaching, the industry must understand the regulation and its implications.
This Impact Note responds to this need and provides an overview of the GDPR with a focus on the new elements and business impacts of the regulation. It is based on conversations with banks, companies, and industry experts, complemented with research of the vast amount of publicly available material on the GDPR.
This 22-page Impact Note contains three figures and one table. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.