What is ‘privacy by design’ and why does it matter?

The rapid expansion of online account usage has made us all a little more sensitive to potential data exposure. According to 2020 BAI research, 38% of consumers across all generations report that their biggest frustration with digital banking remains the fear of fraud and security concerns.

Establishing proactive privacy practices will secure and protect your institutions’ and consumers’ digital data against outside threats, which will in turn strengthen consumer trust and loyalty.

What is ‘Privacy by Design’?

The ‘Privacy by Design’ framework has become a universally -recognized standard for protecting data. Following the methodology outlined in this approach will help to ensure your data remains as secure as possible, in a compliant, consumer-focused way.

The proactive privacy and security methods identified in this framework include the following:

 

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