Data Privacy in Banking Market Research Report 2022 – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Data Privacy in the Banking Sector – Thematic Research” report has been added to from ResearchAndMarkets.com offer.

Data underpins and enriches all aspects of retail banking, whether it’s optimizing channel interactions, personalizing risk assessment, or helping customers make better financial decisions. . Data is also essential to the development of transformative new technologies such as artificial intelligence, big data and the Internet of Things. This report examines the impact that the topic of data privacy will have on the retail banking industry.

Whichever consumers trust their data the most, they are more likely to allow additional data and engage with it more frequently overall. Provided the necessary technological changes are made, incumbent banks can capitalize on this advantage to provide more personalized contextual digital services in the face of the onslaught of new entrants.

To do this, forward-looking IT teams will need to balance the value of collecting, storing, and processing large volumes of data against pressing privacy, security, and compliance requirements. Different customers often have different opinions about what data to share, when to share it, and how. The same customers may feel differently depending on what they’re getting back, the provider, or the sensitivity of the data.

Engaging in a personalized way will increase the chances of conversion (or consent). Incumbent providers need segmentation models for privacy that recognize that data permissions and consent are a constant trade-off between what customers want to reveal and what they want to retrieve.

Scope

  • Since the introduction of GDPR in 2018, more than 60 jurisdictions around the world have enacted or proposed privacy or data protection legislation, including Brazil, Japan, Thailand, and various states in the United States. These regulatory initiatives are both a manifestation of, and a driver of, consumer concerns about data.

  • The more consumers feel comfortable sharing personal data with companies, the more likely they are to use their products and services. Providers can increase comfort levels by segmenting customers based on their privacy preferences rather than adopting a single policy.

  • Various types of privacy-enhancing technologies – such as encryption, anonymization, and pseudonymization – can enable data mining without violating data privacy, thus not requiring explicit customer consent.

Reasons to buy

  • Understand the key technological, macroeconomic and regulatory trends impacting the topic of data privacy.

  • Identify priority application areas for privacy-enhancing technologies, as well as vendors and banks offering these experiences to end users.

  • Access enterprise-level information on key players in data privacy.

Main topics covered:

  • Summary

  • Players

  • Thematic briefing

  • Tendencies

  • Industry analysis

  • Value chain

  • Companies

  • Sector dashboards

  • Glossary

Companies cited

  • Amazon

  • Google

  • Facebook/Meta

  • Apple

  • Alphabet

  • Tinkoff Bank

  • BAI

  • Capital one

  • WeBank

  • My bank

  • Monzo

  • NatWest/RBS

  • Danske Bank

  • DBS

  • TSB

  • BBVA

  • Citibank

  • mBank

  • Revolution

  • Agricultural credit

  • Barclays

  • Credit scale

  • NovaCredit

  • Experian

  • Equifax

  • Trans Union

  • Tink

  • Bud

  • Plaid

  • TrueLayer

  • Cornami

  • off center

  • Immuta

  • Inpher

  • static

For more information on this report, visit https://www.researchandmarkets.com/r/fzcep5

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