Citisoft's Steve Young discuss GDPR in Global Investor. Steve emphasized that the upcoming General Data Protection Regulation (GDPR) will have a major impact on investment managers and the ecosystems regardless of geography. He notes that he sees two typical approaches to compliance: quick and superficial and process-driven.
"As with all regulation that impacts the industry there are two distinct approaches to becoming compliant. First, and sadly the most common approach, is to take the regulation and ensure that each aspect is addressed in the simplest and quickest manner. The second approach looks at the overarching principals of the regulation, finds the client and business benefits, and then amends processes to support this change. Perhaps with GDPR the variance in these approaches will be most apparent."
For Steve's thoughts on the biggest impact of GDPR, read the full article.
