GDPR - Data protection in the digital era

18-04-10 12:48 | Digital banking | The Digital Hub

From 25 May, the new General Data Protection Regulation (GDPR) will apply and put increased focus on individuals’ right to be in charge of their own personal data. 

When the existing EU directive regarding data protection was introduced in 1995, there were no social media platforms and no gigantic search engines – two areas that probably process more data than anything else today. Tomorrow we won’t be talking about just social media and search engines, we’ll be talking about practically everything in our private and professional environments.
In short, our online behaviour creates an enormous flow of personal data that needs to be protected.
The new GDPR replaces the existing EU Data Protection Directive. The purpose is both to strengthen individuals’ rights to their own data and to create an even stronger regulatory framework within the EU when it comes to data protection. 

Nordea appointed a Group Data Protection Officer

I was appointed Nordeas Group Data Protection Officer (DPO) and my role is to ensure that Nordea lives according to the rules set out in GDPR. Europe's data protection rules are undergoing their biggest changes in two decades. This is needed to take into account how we all act in the digital age, and of course the changes brought forth by the regulation also affect how Nordea operates.

Gives customers more right to their data

Data protection is nothing new to us. As a bank, data protection has always been crucial. When our customers use our banking services, they share their personal data with us and trust us to keep it safe. Based on the information shared we can provide personalised service and advice based on their individual needs. 

We will continue to focus on protecting the information that customers and employees share with us. The elements in the new legislation which concerns individuals’ right to control their data are not all new, they are however strengthened. We need to be able to explain to our customers for which purposes we use personal data and, at their request, we need to enable them to access, restrict and potentially erase their personal data. This means for instance that we are obliged, on request, to give the customer a copy of his or her own personal data.

/Ellen Pløger, Group Data Protection Officer

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