Finovate always brings together the most exciting FinTech services to demo in 7 minutes each to 800+ finance professionals, journalists and bloggers. No slides are allowed, only a demo of your service. And at 7 minutes, they turn off the lights and your microphone and start with the next presentation, so the pressure is on!
On 13 February 2019, Keepabl was part of the Finovate Europe Spring 2019 cohort: do watch our demo!.
Robert Baugh, our CEO, and Andrea Spataro, Senior Privacy Executive, took a full audience through how Keepabl helps address the Top 3 GDPR Challenges for Financial Services identified by PwC’s excellent December 2018 GDPR survey: Luxembourg Market Status: smooth sailing or hot water?
The 3rd biggest GDPR challenge: experienced by 36% of Luxembourg Financial Service respondents, was ‘Legal comprehension’, in other words, the sheer complexity of GDPR.
The 2nd biggest GDPR challenge: experienced by 38% of respondents, was ‘Staff availability’.
These two challenges repeatedly come up in survey after survey. The recent UK SME Cyber Survey by Aon, also December 2018, revealed that 50% of UK SMEs are still confused about GDPR a good 6 months on. And the February 2019 GDPR Financial Services survey released by RSM UK revealed that, nearly 9 months on, ‘over 60 per cent of financial services firms lack confidence in having the right levels of resource in place to manage ongoing obligations. Additionally, only half of firms were fully confident in the skills of their resource.’
So any GDPR solution must be simple – and not bring that complexity with it into its design and usability – and help limited resources get the GDPR job done.
The top GDPR challenge: experienced by a whopping 68% of respondents, was ‘Mapping all personal data processing activities’.
So we focussed our demo on how easily you can create your Data Map using Keepabl’s Activities. And how Keepabl instantly and automatically creates and updates your Risk Map, your Article 30 Records (Controller and Processor), automated Activity Analysis, your interactive Processor Register and more.
We had great feedback straight after the demo and are excited about taking forward our discussions from the event.
And you’ll be glad to know that we managed to include a trot through a chunk of this before neatly wrapping up right before the 7 minute marker!
Contact us about our holistic solution: the SaaS platform and the 30+ document Policy Pack, which has been through the mill at over 60 financial institutions.