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Digital Identity, Security & Online Fraud

Pontus Vision helps FI meet GDPR compliance with new solution

Wednesday 28 February 2018 | 10:32 AM CET

Pontus Vision, a UK-based regtech company, has launched Pontus Vision GDPR to enable global financial institutions manage their data requirements.

Pontus Vision GDPR is an open source, software-based solution, which enables companies to search for any given customer and quickly access all of the data the business holds about them in a single view, thus helping them comply with the EU General Data Protection Regulation (GDPR) that will come into force on the 25th May 2018. Additionally, the solution offers a ‘self-service’ option allowing organisations to provide their customers with the ability to delete or update their own personal information.

GDPR will impact every business that processes or collects data from EU citizens. Failure to meet the regulatory requirements could result in significant penalties of up to EUR 20 million or 4% of global annual turnover - whichever is higher. The legislation will require companies to adhere to a multitude of new rules governing how their customers’ personal data is handled, processed and secured.

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