The need for systems to support compliance
Organisations face a range of compliance challenges – some universal like GDPR, some industry-specific like MiFID II. Is your data infrastructure up to the required standards?
Regulatory compliance management is one of the most important activities in organisations today. Your organisation faces an ever-increasing range of regulations relating to issues such as management, storage and usage of personal and sensitive data – and communications between your organisation, and your customers and partners. Failure to comply may lead to regulatory fines and other penalties.
How can your organisation manage its regulatory obligations? Compliance demands a strong infrastructure, the right compliance monitoring software and tools to manage data, and the strategic expertise to implement this. Organisations are increasingly turning to an experienced partner for help with implementing secure data infrastructure and compliant communications solutions.
GDPR compliance affects every organisation
The introduction of the new General Data Protection Regulation (GDPR) in May 2018 demands a new standard of data privacy compliance from all organisations, as well as good data governance practices.
For your organisation to be compliant for GDPR, you need to identify, analyse, understand, manage and control privacy-related data – and be ready for any Subject Access Request.
An expert compliance partner can conduct a GDPR readiness assessment to educate your key stakeholders – and identify areas of risk to help your business prepare and plan for compliance. They can also help you with digital rights management (DRM) and encryption solutions to help classify and protect your data in line with GDPR.
MiFID II compliance for the financial sector
In addition, the financial sector must be compliant to FCA rules and the new MiFID II regulations for trading and transactions, requiring an efficient data and communication infrastructure that supports this. As a financial sector firm, you can turn to an expert data compliance partner to bring your networks and systems up to a compliant level for MiFID II.
The MiFID II requirement for recording financial transaction information also extends to voice communications. Your organisation can meet this challenge with the latest compliant communications solutions that meet MiFiD II voice call recording requirements across fixed and mobile environments.