With SIA and OneTrust, ABANCA has become one of the banks that most strives to guarantee the protection of its customers' data as a means of offering them service excellence
The technology implemented by SIA and OneTrust automates processes and improves efficiency. The regulatory compliance bolsters the bank's cybersecurity strategy
SIA, an Indra company leading the cybersecurity market, and OneTrust, a top management platform for privacy, security and data governance, have provided ABANCA with the most advanced solution to safeguard its users' data and guarantee its customers the best possible service.
The new privacy management solution facilitates stricter compliance with the General Data Protection Regulation (GDPR) and ensures the highest level of privacy for the personal data customers provide to the bank.
Such data is particularly sensitive in the financial sector and requires the support of highly specialized cybersecurity companies such as SIA to ensure its protection. The massive use of new technologies, the growing importance of electronic banking in the business, increasingly demanding legislation and the exponential increase in cyber-attacks are factors making this a highly complex venture.
In this scenario, the SIA and OneTrust solution provides ABANCA with the capacity it needs to automate and set up all the operations it requires to comply with privacy regulations, thereby reducing the level of risk to which it is exposed.
The system streamlines process management and relieves professionals of repetitive administrative tasks. It also provides the flexibility that the organization needs to scale and adapt its privacy management needs at any given moment.
The upshot of all this is better service, which the user perceives as an improved experience, increasing the user's confidence in the entity and bringing the bank greater competitiveness and commercial appeal.
For Roberto Baratta, Director of Loss Prevention, Business Continuity and Security & DPO at ABANCA, "the regulatory and legislative environment is a complex one and requires in-depth knowledge of the subject. In this case, it was crucial to have leading specialists in this field."
Jaime Martínez, Head of Cyber Risk & Compliance at SIA, adds that "we have provided ABANCA with all our experience in implementing this type of solution in organizations of its size and complexity. SIA accompanied and advised the entity throughout the process to help define the best strategy to implement, always adapting to the compliance processes followed by the group".
The solution implemented by SIA and OneTrust also provides new functionalities to the bank; for example, allowing the user to manage browser cookie consent across the group's 25 domains. It also allows the bank to make a complete inventory of the various existing personal data processing, to evaluate the impact of each on the customer's privacy and be able to certify with proof its compliance with the proactive responsibility in its management (PIA/DPIA Automation). SIA has also supported the training and awareness of ABANCA employees on privacy issues.
Indra (www.indracompany.com) is one of the leading global technology and consulting companies and the technological partner for core business operations of its customers world-wide. It's a world-leader in providing proprietary solutions in specific segments in the Transport and Defence markets and a leading firm in Digital Transformation Consultancy and Information Technologies in Spain and Latin America through its affiliate Minsait. Its business model is based on a comprehensive range of proprietary products, with a high-value, end-to-end focus and a high innovation component. In the 2020 financial year, Indra achieved revenue totaling 3.043 billion euros and had nearly 48,000 employees, a local presence in 46 countries and business operations in over 140 countries.
SIA is the Indra company leading the cybersecurity sector in Spain and Portugal, both in terms of turnover and expert talent, with more than 1,400 specialists. Its value proposition is based on the specific responses it offers organizations to meet the challenges and threats posed by the four forces of digitalization: regulatory pressure, connected infrastructures, the transformation of IT architectures and the growing digital interaction of people; responses articulated through a set of specific measures and plans to minimize risk and maximize the protection of their businesses. As a member of the Indra Group, one of the leading global technology and consultancy companies with business operations in 140 countries, SIA benefits from an in-depth knowledge of the sector as well as a solid worldwide presence. More information at: www.sia.es
ABANCA is the leading financial entity northwestern Spain. It has 681 offices in 11 countries in Europe and the Americas, 6,080 employees and a turnover of over €107 billion. The combination of personal services and operations using digital and remote channels make its product offer unique. ABANCA bases its activity on knowledge of customer needs and on a catalog of simple, innovative and transparent products and services. Specialization, internationalization and sustainability are the other hallmarks of a financial institution that is among the most solvent in the sector in Spain. More information: www.abanca.com.
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