Data governance, risk, and privacy management
New regulations challenge the financial industry on an almost daily basis, due to national and regional legislation, competition concerns, and consumer demand. Human error accounts for the loss of hundreds of millions of dollars in transactions every year, while governments regularly levy multi-million-dollar fines for non-compliance with privacy laws.
Today, FSPs are tasked with adopting stringent data processes and standards to scale data governance operationally across the enterprise, while reducing the costs, and inefficiencies, associated with managing siloed data. K2View Data Governance enables financial institutions to implement policies and procedures controlling the management of data – quickly, securely, and at scale.
The incessant demand for new financial products and services, combined with the introduction of new customer interaction channels, has led to the tremendous growth in financial applications of all kinds. However, with customer data fragmented across so many systems, maintaining data privacy has become more difficult than ever.
For financial institutions, privacy compliance has become an especially urgent concern. K2view Data Privacy Management provides FSPs with a market-leading solution for automating customer data access requests, with its complete integration with any source data, and flexible DSAR automation workflows.