From Mandate to Business Value: The Future of Managing Privacy & Data Protection
23 May 2019
The development of virtual banking in Hong Kong will be underpinned by the Policy Objectives of promoting fintech development, new customer experience and financial inclusion. In other markets, we see digital banking being delivered on the basis of personalised products and services. The crux of this is data wealth. In fact, it is said that with 2.5 quintillion bytes of data being created every day, "people are being defined by how they travel, surf the internet, eat and live their lives". However, in recent years, we have seen an upward trajectory in Data Privacy requirements as well as the rightful expectations of customers that their data is being protected. So how can Business and Technology work in harmony to meet these competing challenges? In 2019, Data may be the New Oil but Trust is the New Gold.