Are your Mobile Financial Services Apps GDPR-ready?
All companies now need to ask themselves: are our apps GDPR ready? The requirements to protect personal data that GDPR puts on companies is somewhat clear for many. Still, most have forgotten that mobile applications put data exactly where GDPR does not want it to be: in the clear outside of the IT firewalls.
While GDPR is generic legislation that affects everyone, PSD2 is focused on the payments industry. It is designed to shake the payments ecosystem and open services to new players.
With the right approaches, organisations can meet the increased security requirements while improving the user experience. The necessity of adapting to these new regulations can be turned into an opportunity to improve user convenience. The organisations that understand mobile and use it to their advantage - rather than just reacting to new requirements - will be the ones that win.
This paper highlights the risks to be avoided and the competitive advantages to be gained by remembering to focus on mobile.