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  • Regulatory system 2018f. - High point of the regulatory wave sets standards for the financial industry

    Extensive regulatory requirements for financial service providers and FinTechs in field of data protection, money laundering regulation (AML), risk management and supervisory architecture. From a regulatory point of view, 2018 is marked by a wealth of innovations and changes that have rarely been the case so far. However, the outlook for 2019 is expected to ease only slightly. The much-cited "regulatory wave" is not coming to an end; on the contrary, it sees its peak so far in 2018. Although the regulatory agenda of European and national supervisory authorities proves that the important framework parameters have now been withdrawn, the finishing touches have yet to be applied.

    Meanwhile, with increasing automation and data automation of business processes, the proportion of necessary technological transformations is also increasing exponentially.

    Solution approaches for ensuring the transparency of machine decisions in order to be able to provide accountability in a comprehensible and traceable manner

    Use of deep learning on higher dimensional data and their combination in order to satisfy the complexity of the real world

    In the following article we provide an overview in sense of first guidance on these topics.

     

  • Opt-In – Priority Regulation GDPR Puts Pressure on Industries with a High Proportion of P&L within Third-Party Marketing of User Data

    With the upcoming introduction of the new GDPR regulations, businesses such as the media enterprises and marketers are facing new challenges. The new regulations require the consent of users via opt-in, in order to use and process personal data. Hence, these rules might have significant influence on business models and the way data is being stored. Especially for media companies, the use of personal data has become a key driver for its business. Thus, the current changes are expected to create a decrease of roughly 30% in revenues, caused by the fact that the consent of personal data use has to be requested again. Based on the provided insights, three solutions are being proposed, in order to showcase how to apply these in the business setting, highlighting that none of these fully comply with regulatory requirements. As a result, the creation of personalised content is at risk. In the near future it has become of utmost importance for companies to re-formulate new solutions, in order to be able to elevate, process and pass on personal data.

     

  • VERIMI Security White Paper

    Ensuring safe ID management is essential for data protection compliance and online business transactions. VERIMI, together with Fraunhofer AISEC and COREengineering, is publishing a white paper which is transparently outlining their security set-up and contributing to the public discourse of security and data protection.