DP2017: GDPR â an opportunity for transformation?

Director of Information Strategy and Governance at Barclays, Fedelma Good knows a thing or two about data protection. Seeing the GDPR as an opportunity for business transformation, Good spoke at our latest Data Protection event to clear the haze around the laws and spoke about how it could be the driver for change companies have been waiting for.

"How can there be an opportunity in something that is making us all sweat so much?" opens Good.

The ICO

"To begin, we need to look at the key underlining changes that the GDPR will drive" she says, before laying out ICO’s key matters to be focusing on:

1. Awareness
2. Information you hold
3. Communicating privacy information
4. Individuals rights
5. Subject Access Requests
6. Lawful basis for processing personal data
7. Consent
8. Children
9. Data Breaches
10. Data protection by Design and Data Impact Assessments
11. Data Protection Officers
12. International

"You need to be able to say to the ICO ‘we’re in control here’ – they will be looking for the accountability element and that your company has made the right adjustments."

Quoting the ICO, Good says consumers now understand personal data a lot better, "They’re right to expect organisations to keep their information safe, be transparent about its use and for organisations to demonstrate their accountability for their compliance."

They go on to say, "GDPR is essentially about trust. Building trusted relationships with the public will enable you to substantially build your use of data and gain more value."

She continues, "The last ICO survey found that 75% of adults in the UK don’t trust businesses with their personal information. That is shocking and needs to change."

Trust

"The issue of trust keeps resurfacing,’ says Good, ‘The primary objective of the GDPR is to give individuals back control – it will empower individuals to choose how, and whether, businesses use their data. Because fundamentally people buy from people they trust."

"In the Citizens Advice report, published in April 2016, they conclude that 'trust is sorely lacking in the online world. Consumers feel out of control of their information and choices. They feel they have an all-or-nothing choice to make when accepting the terms of the relationship' As a result, Citizens Advice call for a balanced and fair environment, easier ways to make decisions, and to have confidence that companies who overstep the mark will be held to account.” In Good’s own words “To the open-minded organisation the GDPR provides a road map to do just that."

Opportunity

"From boardroom to postroom, this matters", says Good, "GDPR is not simply a challenge for your legal or privacy or compliance teams to tackle; it needs to be addressed as an integrated, organisation-wide transformation programme."

"It’s a simple choice” she says of those struggling to see the positives in the Regulations, instead organisations should "Organisations can view GDPR as a compliance exercise or consider it as an opportunity to transform their business."

Citing an extract from Rebecca Hennessy from Experian’s recent article, which sets out 8 reasons why the GDPR can help boost business, Good highlighted the belief that “Now is the time to create a truly consumer-centric approach to data governance and strategy, and to secure your customer’s place at the heart of your data-powered future.”

Her final words?

"Grab it with both hands – GDPR is an opportunity for transformation."