>> See overall ESBG position on data protection
>> New: Digitisation stance in 'ESBG Positions' document [.pdf]
>> Position on Digitisation and Innovation
Common EU rules have been established to ensure that personal data enjoys a high standard of protection everywhere in the EU as this is considered a fundamental right.
New data protection rules aim to ensure a data subject receives clear, understandable information when their personal data is processed. When consent is required, it will have to be given explicitly before a company will be able to process personal data. It will strengthen peoples' rights in a practical way, recognizing "right to be forgotten", data processors responsibility, and easier access by data subject to their related data.
There is a worrying tendency, however, to adopt light-touch regulation for new digital competitors in financial services, whilst leaving incumbent savings and retail banks burdened by heavy regulation.
>> WSBI World Congress: Main Street Banking in a Digitised World