Connect with us

News

GDPR HASN’T CHANGED HOW MORE THAN A THIRD OF UK WORKERS HANDLE SENSITIVE DATA

New insider threat survey highlights what employees really think about privacy regulations, revealing how non-compliance could be putting their employers’ data at risk

One year since the introduction of GDPR, more than a third (34.5 per cent) of British workers admit they still haven’t changed how they handle sensitive data, despite 84 per cent saying that they know what their data protection compliance responsibilities are. This is according to new survey findings announced today by ObserveIT, the leading insider threat management platform with more than 1,900 customers around the world.

Mike McKee

The survey of 1,000 full-time UK employees reveals that the introduction of GDPR has had an impact on day-to-day work processes, with 83 per cent of respondents confirming that their employers have adopted new data security policies and technology solutions over the past year. Insiders – employees, partners and contractors – can be an organisation’s strongest defence for protecting sensitive information, but to do so, they need the right knowledge and continued training and support. The key UK findings reflect this:  

  • Over a third (34.5%) of British workers say they are not handling data any differently since the introduction of GDPR
  • Almost a third (27%) of British workers believe they never handle valuable customer or sensitive/proprietary data at all
  • Only 22 per cent believe their personal information is safer with third-parties because of new regulations
  • Just half of UK organisations recognise that a mix of technology, security training and technology usage policies must be used to combat data breaches.  

Employees in the United States were also polled to establish a comparison between the two markets. Key differences highlighted are that:  

  • In the U.S, one-third of respondents say they aren’t aware of any privacy policies their organisation abides by, while in the UK only 17 per cent of people say they are unaware of privacy laws that affect their employer
  • 44 per cent of U.S. employees aren’t very confident their organisation is taking the proper steps to protect their own personal information, compared to 61% in the UK who are confident 
  • 67 per cent of employees in the UK feel they have ample training to ensure that customer data is protected in line with new regulations versus 47% of employees in the U.S.

“Privacy regulations aren’t going away any time soon. In fact, over the next several years, we’ll likely see more regional policies go into effect as consumers demand more transparency around how their information is being used,” said Mike McKee, CEO of ObserveIT. “We’re committed to helping organisations navigate this privacy-centric business environment by providing deep understanding of user activity and tools to support employee behaviour change – ensuring the information of their customers and employees remains secure.”

To learn more about how ObserveIT is helping organisations ensure the security of customer and user privacy data and comply with GDPR and other compliance standards, by ensuring organisations have full visibility into data activity across all endpoints and cloud environments, visit here.

To learn more about ObserveIT’s survey visit here. For more information on how ObserveIT empowers security teams to proactively detect insider threats, streamline the investigation process and enable rapid response, visit here. For a free trial of ObserveIT 7.7, visit here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

EIS LAUNCHES IN THE UK AS INSURANCE COMPANIES LOOK BEYOND PROTECTION TO DELIVER MORE VALUE TO CONSUMERS

Leading digital insurance platform expands global footprint to meet UK insurance market demands

EIS, a core and digital platform provider for insurers, today announces its entry to the UK market. The San Francisco-based insurtech has launched its coretech platform in the UK to help insurers offer a new generation of insurance products and services, in response to changing consumer habits and an evolving regulatory landscape.

“For the Insurance company of the future, providing the right cover and good service to policyholders are table stakes,” says Tony Grosso, Head of Marketing at EIS, “The real winners will be those who can move beyond protection and operate in an ecosystem of value with other, non-insurance providers.”

In fact, a recent EIS poll of UK insurance providers and insurtechs showed that 1 in 3 respondents identified “moving beyond protection to deliver more value to customers” as the most important objective for the insurer of the future.

In response to the wave of innovation in the UK insurance sector, 75% of insurers are leaving legacy technology behind in favour of more dynamic and flexible ‘as a service’ models. EIS aims to help UK carriers with the introduction of its coretech platform, which unlike modern legacy technology, allows insurers to rapidly create and deploy new and innovative products and services via open APIs. This new, flexible platform allows insurance companies to operate seamlessly with insurtechs and other providers to deliver lifestyle solutions beyond protection to consumers.

With customers at the heart of the EIS platform, insurers globally can now take a personalised approach to their customer experience by recognising and engaging customers as a whole, across all their insurance needs, rather than individual policy numbers.

“The agility and flexibility of the platform will be invaluable to UK insurers as they look to adapt to and sync regulatory changes post-Brexit and the demands of the market,” says Tony. EIS is already helping forward-thinking insurance businesses in EMEA, North America and APAC.

“As we enter the UK market we see high demand for innovative approaches to insurance. More so than other markets, in fact,” said Olivier Vayesse, Senior Vice President, EMEA at EIS. “EIS been resourceful in responding to this demand. One example is a local initiative where we are  developing an intelligent digital ecosystem  to enable insurers  to take a more radical approach to transformation, offering a greenfield platform for transitioning away from legacy technology.”

“EIS is committed to expansion in the UK market, creating jobs and revenue opportunities, in conjunction with our partner program,” Olivier continued.

 

Continue Reading

News

TINK TECHNOLOGY ENABLES MULTI-BANKING FOR NORDEA’S NORDIC APP CUSTOMERS

Tink’s account aggregation, data enrichment and personal financial management technologies have been integrated into Nordea’s mobile banking app to deliver a personalised financial overview for the bank’s customers in Sweden, Norway, Finland and Denmark. The new app features will be rolled out gradually by Nordea in the Nordic markets — starting with Sweden, today.

 

Open banking platform Tink and the leading Nordic bank Nordea have worked together to add new multi-banking features to Nordea’s mobile banking app. The new features will make it possible for Nordea’s app users to get a comprehensive overview of their finances in one place, including mortgage, savings, loans and current account — even from other banks.

From today, these new features will be available to customers in Sweden using Nordea’s app, with the same capabilities due to launch in Norway, Finland and Denmark in the coming months. Additional features based on Tink’s open banking technologies — including the possibility for Nordea’s app users to categorise costs, analyse their spending and set budgets— will be added to the app later this year.

 

Anders Nicander, Head of One Digital, Nordea, said: “Nordea is dedicated to providing great digital experiences, and we want to be seen as a relevant partner to our customers. As part of that, Nordea is happy to see that our customer experience in the Nordea Mobile App is improved through our collaboration with Tink. Providing Swedish customers with a more complete financial overview is our first delivery together with Tink. Now we look forward to bringing this to our other markets and at the same time develop other exciting functionalities based on Tink technology.”

 

Daniel Kjellén, co-founder and CEO of Tink, added: “Our open banking technology has already helped millions of bank customers across Europe to get a better overview and understanding of their finances. We are very proud to now make our technology available to almost 11 million bank customers in Sweden, Norway, Finland and Denmark through our partnership with Nordea.”

Since launching in Sweden in 2012, Tink has been dedicated to enabling banks, fintechs and startups to develop data-driven financial services. Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions and build personal finance management tools. Today, Tink has more than 270 employees globally and is Europe’s leading open banking platform — enabling customers to connect to more than 2,500 banks that reach over 250 million bank customers across Europe.

Continue Reading

Magazine

Partner Events

Trending

Finance1 day ago

FIXING THE FLAWS IN FINANCIAL SERVICES’ DATA MANAGEMENT

Simon Cole, CEO at Automated Intelligence, a cloud-based data compliance and governance solutions provider to the financial services sector, warns FS...

Business4 days ago

FROM MANUAL TO MACHINE LEARNING: HOW TO APPROACH THE RECONCILIATION ‘PROBLEM’

By Christian Nentwich, CEO at Duco   At the start of 2020, before the global coronavirus pandemic changed the world,...

Finance4 days ago

5 WAYS TO MAXIMISE THE VALUE OF INSTANT PAYMENTS

Lauren Jones, International Payments Ambassador, Icon Solutions   Instant payments are the ‘new normal’. The last decade saw a ramp-up...

Business4 days ago

THE BEST PATHS TO SECURE AUTO FINANCING IN 2020

The previously flourishing economy has taken some dramatic turns in the last few months due to the health and economic...

Top Stories5 days ago

TIPS FOR BUSINESS EXPANSION

Alan Sutherland, CEO of Kind Consumer   Every successful business had a beginning.  Its founders usually looked for ways to...

Finance5 days ago

THREE QUESTIONS FINANCE LEADERS SHOULD BE ASKING THEMSELVES DURING THE PANDEMIC

Chris Pope, Global VP of Innovation at ServiceNow   We’re living through unprecedented times, dealing with a situation completely out...

Wealth Management5 days ago

HOW WILL COVID-19 IMPACT ESG INVESTING LONG-TERM?

By Kerstin Engler, Senior Wealth Manager, Geneva Management Group.    Sustainability is a trend on the rise in every sector...

News5 days ago

EIS LAUNCHES IN THE UK AS INSURANCE COMPANIES LOOK BEYOND PROTECTION TO DELIVER MORE VALUE TO CONSUMERS

Leading digital insurance platform expands global footprint to meet UK insurance market demands EIS, a core and digital platform provider...

News7 days ago

TINK TECHNOLOGY ENABLES MULTI-BANKING FOR NORDEA’S NORDIC APP CUSTOMERS

Tink’s account aggregation, data enrichment and personal financial management technologies have been integrated into Nordea’s mobile banking app to deliver...

Top Stories7 days ago

BITCOIN COMES OF AGE

Katharine Wooller, Managing Director, UK and Eire, Dacxi   The Bitcoin halving event, which occurred on the 11th May, has...

Finance7 days ago

KEEPING PAYROLL SAFE AND SECURE IN LOCKDOWN” – HOW FINANCE FIRMS’ PAYROLL TEAMS CAN MAKE IT HAPPEN

by Richard Dutton, account director, Symatrix   With companies across the UK switching to remote working since the pandemic took...

News7 days ago

EMERGENCE PARTNERS LAUNCHES TO HELP BUSINESSES NAVIGATE A NEW WORLD OF EMERGING TECHNOLOGY

Consulting firm will partner with clients to transform their businesses using disruptive technologies   Emergence Partners, has today launched to provide strategic counsel...

Technology1 week ago

BEFORE THE INK IS DRY: CORRECTING BIOMETRIC SPOOFING MYTHS

Eric Setterberg, System Design Engineer at Fingerprints Biometric authentication is highly robust, and the latest solutions offer considerably greater security...

Finance1 week ago

DIY SOS: FIXING-UP THE FINANCIAL SERVICES HOUSE

By Edwin Abi, CMO, Modulr   It has been 11 years since the 2008 financial crisis. And in that time,...

Finance1 week ago

ARE WE AT THE TIPPING POINT FOR GLOBAL BIOMETRIC PAYMENT CARD ADOPTION?

By Vince Graziani, CEO of IDEX Biometrics ASA   Following the coronavirus outbreak, consumers are ready to go cashless more...

Wealth Management1 week ago

KEEPING DATA IN THE VAULT: INSIDER BREACH RISK IN FINANCIAL SERVICES

by Tony Pepper, CEO. Egress   Financial services organisations are trusted with far more than just money; they are also responsible...

Top Stories2 weeks ago

MOBILE MONEY MOVED THE NEEDLE ON FINANCIAL INCLUSION – BUT NEEDS SCALED INFRASTRUCTURE TO FULFIL AFRICA’S POTENTIAL

Dare Okoudjou, Founder and CEO, MFS Africa   Africa is gearing up to become of the great success stories of...

News2 weeks ago

WHAT WILL SALES LOOK LIKE IN A POST COVID-19 WORLD?

Max Eaglen, Director at Platform Group, looks at how businesses will need to re-shape their sales techniques in a post COVID...

Business2 weeks ago

HOW HAS THE CORONAVIRUS LOCKDOWN IMPACTED THE MANUFACTURING SECTOR?

As thousands of people have headed back to work, the manufacturing industry will need to have safety guidelines set out...

Technology2 weeks ago

CAN AUTOMATION HELP BUSINESSES GET PAID ON TIME?

By Magali Michel, Director at Yooz   Procurement process costs account for an average of 60% of turnover for most...

Trending