Temenos Customer Data Protection
Privacy by design is fundamental to implementing banking solutions that provide customers with more control of personal data and how it is processed.
Why Temenos Customer Data Protection ?
Since the arrival of the General Data Protection Regulation (GDPR), it is more important than ever to plan for the impact of data protection legislation by designing an efficient response.
With huge fines and irreversible reputational damage on the line for data breaches, data protection cannot be ignored.
Using our experience and expertise, Temenos provide assistance for Data Protection within Temenos Products; assisting clients to meet regulatory obligations with limited disruption to your business.
By developing and implementing data protection solutions at various banks across the globe, Temenos assists financial institutions with Data Protection by providing a Toolkit which can help you:
Manage Personal Data
Take control of the personal data you process* using our personal data definition.
(*within Temenos products)
Data Access and Portability
The provision of configurable personal data reports to assist with requirements related to the Right to Access and the Right to Data Portability.
Data Erasure and Obsfuscation
An erasure process which removes and anonymises personal data after defined timeframes, Related to the Right to be Forgotten.
Banks can anonymise personal data how and when they require.
Manage Customer Consent
Our consent framework enables you to record consent from your customers in a granular and unambiguous way and enables your customers to easily opt in and out of specific processing..
Temenos clients have reduced their administration time for Personal Data reports from 6 hours to 0.1 hours.
Related Insights
Explaining Explainable AI in Financial Crime Mitigation
According to a global survey conducted by the Economist Intelligence Unit (EIU) on behalf of Temenos, two-thirds of banking executives believe that new technologies such as AI, machine learning will continue to have the greatest impact on the global banking sector in the next five years. AI can deliver huge benefits in financial services, particularly in the area of combatting financial crime and assisting with alert evaluation where it can deliver a significant return on investment. In acknowledgment of this, regulators are encouraging innovation, including harnessing new technologies, however, with caution that decisions need to be explainable and auditable. Join Professor in AI Hani Hagras, and Adam Gable in this session to learn why there does not need to be a trade-off between the accuracy of predictions and the ability to explain them. Find out how you can use Temenos Financial Crime Mitigation as a “plug in” service to offer real-time fraud, AML and sanctions screening to your payment and product offerings, helping you to better protect your organization in the digital age and reduce timely and costly overheads, powered by Temenos’ industry-leading Explainable AI platform.
Key Challenges and Opportunities of ISO 20022
Over the coming years, some of the key payments rails in North America will undergo radical transformations to ISO 20022 based standards and transaction services. Affecting both domestic and cross border flows, these changes will impact many areas of processing, from payment order intake to transaction orchestration and execution, to clearing and settlement, to customer reporting, etc. In this discussion, we will highlight some of the key challenges and opportunities to be addressed based on learnings and insights gained from other markets around the world where similar transformations have taken place. What are the key capabilities required to address these challenges and thus reduce the risks and impact on your business?
Regulatory Compliance: Managing Risk While Maximizing Rewards
The Temenos Compliance Advisory Team will be joined by Jessica Phillips, Compliance Officer at Peoples Bank of Alabama to discuss the most pressing compliance risks concerns for financial institutions as we navigate ever-changing policies. This session is focused on TRID updates, mortgage servicing challenges, and flood.