PROFILE
quite a significant impact on us. Obviously,
Brexit has had an effect simply because
the rules surrounding data housing will
potentially change. Although our industry is
not likely to be impacted as much as others,
the location of physical assets and the
regulatory requirements around that may
change so we are very focused on planning
for different scenarios.
Another significant factor is GDPR. We’ve
always been a highly-regulated industry,
so we are used to working in this kind of
environment. The final significant factor
that I think has enormous potential
globally but which the UK is leading the
charge on, is open banking. Open banking
is a fascinating concept for us – this is a
real game-changer for companies and
consumers. This ability to share information
across banking institutions more easily is
hugely impactful for our industry and for us
as a company.
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INTELLIGENTCIO
On whether European
businesses are doing well to
combat potential cyber-risks understanding of where some of the
security risks are that may not have
been considered.
Security is a huge deal and has an impact
on everything. Financial institutions in
Europe that I’ve spoken with, particularly
in the UK, are all very focused on ensuring
they can meet the regulatory requirements.
I think there’s some concern out there – I
was in Australia several months ago giving
a presentation on open banking in the UK
compared with open banking in Australia
and the common theme I heard in both
countries is that we can’t sacrifice security
under any circumstances. However, I believe that right now, every
organisation I’ve spoken with on this topic
understands the critical nature of getting it
right and moving at a pace that allows the
security components to be handled at the
same time as the regulatory requirements.
At Experian, security is our top priority and
part of our culture. The systems, people and
processes that we have in place to protect
data are under constant review to ensure
they remain best-in-class.
Security has to be top of mind at the same
time that we need to meet regulatory
requirements around open banking. I
think that the emphasis is there and as
we continue to roll this out in the UK and
in places like Australia, we’ll get a better
The evolving technology landscape
and its ongoing development
I think there’s a lot of interesting forces at
play currently – we’re seeing a huge push
and aggressive migration towards the cloud.
We’re now seeing large financial institutions,
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