Organizations struggle to achieve and maintain transparency essential for regulatory compliance and risk management. It is easy to become overwhelmed by the mountains of information stored across your organization in various states of data quality.
The stakes are high: failure to manage risk and comply with regulations can result in increasingly harsh penalties and fines, customer attrition, higher operational costs, and damaged business reputations.
Total GDPR fines FTSE 100 companies would have incurred for customer data breaches that occurred in 2012 thru 2016, if GDPR had been in effect during that time
- Oliver Wyman
of participants in a May 2017 survey said their organizations had not yet started the process of GDPR implementation.
Total fines levied globally on banks for regulatory noncompliance in 2016 alone.
- Boston Consulting Group
Trillium data quality metrics, tightly integrated with leading data governance/data management tools such as ASG Data Intelligence, help you achieve regulatory compliance and minimize risk with confidence.
The Trillium/ASG integrated solution lets you visualize zero-gap data lineage, correlated with data quality scoring, so data stewards, analysts and business users can:
GDPR Compliance: Data Quality is Critical
Effective May 25, 2018, the General Data Protection Regulation (GDPR) will mandate strict new personal data protections required of all organizations operating within the European Union (including the UK), or anywhere in the world that holds and processes data on EU/UK residents. Noncompliance can lead to severe financial penalties.
Customers will have new, strong controls over their personal data. Organizations will have to promptly respond to customer requests to access, review, correct and limit the use of their personal data, including deleting their data entirely (the “right to be forgotten”).
Trillium’s industry-leading data profiling, matching, merging, linking and other quality processing helps your organization achieve an integrated 360-degree view of the customer. Doing so is essential to ensure each customer request under GDPR is applied to that customer’s data in full – with no personal data left behind.
Organizations will also have to prove their GDPR compliance, including documenting what data processing was performed and ensuring it was done correctly.
The Trillium/ASG integrated solution helps prove GDPR compliance is being followed, through auditable, visual data quality and data lineage showing your customer and other personal data is being processed accurately and completely, as intended, through each step the data processing.