Breaking News
Five Years of GDPR: Reflections and Future Prospects – A Perspective by Colum Lyons
Tomorrow, the world will celebrate the 5-year anniversary of the General Data Protection Regulation (GDPR) – an integral piece of legislation designed to bolster data privacy rights across the globe. Yet, as we reflect on the advancements made thus far, Colum Lyons, the CEO and Founder of ID-Pal, Ireland’s leading ID verification solution, urges us to look beyond the past achievements. Lyons contends that despite considerable progress, there’s still a considerable distance to be covered in the realm of data privacy and protection.
Colum Lyons, CEO and Founder of ID-Pal, comments:
“Five years on from the introduction of GDPR and there is still a long road to go. Even this week, Meta has been hit with a record €1.2 billion fine by the Irish Data Protection Commission (DPC) for violating a GDPR rule, proof that severe consequences are waiting for businesses if the right GDPR-compliant measures are not in place.
“Customers’ personal data must be carefully managed and a lot of organisations still struggle to do this. As more and more industries are being asked to verify their customer identities, this is even more critical to get right when verifying identities as part of Anti-Money laundering (AML) or Know your Customer (KYC) processes. The onus is on the organisation to capture, verify and store their customer’s personal data securely.
“Identity verification processes that use document verification, alongside biometrics and database means a solution meets regulatory guidelines in a more robust way, making the process more complex for fraudsters to outwit but makes the journey seamless for users.”
People In This Post
Companies In This Post
- Bluefin and Basis Theory Partner to Enable Unified Tokenization Across Digital and In-Person Payments Read more
- Invest Bank and AUTON8 Build Partnership to Drive Digital Resilience and Banking Agility Read more
- ING’s AI Roadmap: Platform, People, and Agentic AI Read more
- UK-fintech Provided Over £17.5m in Emergency Wage Advances to More Than 55,000 Employees in the Last Year Read more
- TreviPay Announces AI-Powered Growth Center to Help Enterprises Predict Buyer Behavior and Drive B2B Sales Read more
Invest Bank and AUTON8 Build Partnership to Drive Digital Resilience and Banking Agility
Invest Bank today announced the successful outcomes of its strategic partnership with AUTON8, a global leader in intelligent automation. The collaboration marks a milestone in strengthening regulatory resilience, operational efficiency, and customer-centric agility across both core and digital banking landscapes.
AYU Alternative Investment Network Launches Direct Capital Matching Service
AYU, the global private members' community for family offices and alternative investment funds, is launching AYU Capital, a matching service connecting funds and founders with verified family office investors.
Arab National Bank Leverages Intellect’s eMACH.ai Wholesale Banking Platform to Accelerate Digital Innovation
Arab National Bank (ANB) has implemented Intellect’s eMACH.ai Digital Transaction Banking solution to enhance its digital capabilities
Mortgage Magic™ Launches Integrated Remote KYC to Verify Clients Without the Paperwork
Mortgage Magic has announced the full integration of Electronic ID Verification (e-ID) into its broker workflow
IndusInd Bank Expands Gold Loan Network to 500 Branches Nationwide
IndusInd Bank has announced a significant expansion of its Gold Loan offering to an additional 245 branches, taking the total number of branches providing Gold Loan services to 500 across India. This expansion reinforces the Bank’s commitment to making secured credit more accessible, convenient, and reliable for customers nationwide.
State Bank of Texas Launches New Digital Banking Platform Powered by Alkami
Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a digital sales and service platform provider for financial institutions in the U.S., today announced that State Bank of Texas (SBT) has successfully gone live on Alkami’s Digital Banking Platform (Platform), delivering a modern and intuitive experience for both retail and business banking customers.
Synechron Partners with Cognition to Bring Autonomous AI Engineering to Global Financial Institutions
Synechron, a leading digital transformation consulting firm, and Cognition today announced a strategic partnership to help global financial institutions modernize critical software faster using AI-assisted engineering.
Bluefin and Basis Theory Partner to Enable Unified Tokenization Across Digital and In-Person Payments
Bluefin, the global leader in payment and data security infrastructure and PCI-validated point-to-point encryption (P2PE), today announced a strategic partnership with Basis Theory, a modern, API-driven tokenization and vaulting platform. Together, the companies enable enterprises to implement a unified token strategy across in-store, call center, online, and backend payment environments without expanding PCI scope or introducing new integration complexity.
Invest Bank and AUTON8 Build Partnership to Drive Digital Resilience and Banking Agility
Invest Bank today announced the successful outcomes of its strategic partnership with AUTON8, a global leader in intelligent automation. The collaboration marks a milestone in strengthening regulatory resilience, operational efficiency, and customer-centric agility across both core and digital banking landscapes.
ING’s AI Roadmap: Platform, People, and Agentic AI
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
UK-fintech Provided Over £17.5m in Emergency Wage Advances to More Than 55,000 Employees in the Last Year
PayCaptain, the world’s first B Corp-certified payroll solution, reports a landmark year of growth, with a 73% increase in new customers for 2025 and an average of 70% YoY revenue growth in the last two years. As the cost-of-living crisis deepens, PayCaptain has provided financial agility for 55,000 employees across 260 forward-thinking brands including TGI Fridays, Dishoom, Roadchef, NEOM, Charlie Bigham’s and Monica Vinader dedicated to combining efficient payroll with tools to support the financial health of staff.
TreviPay Announces AI-Powered Growth Center to Help Enterprises Predict Buyer Behavior and Drive B2B Sales
TreviPay, a fully managed B2B payments platform, today announced the availability of the Growth Center, a set of capabilities within the TreviPay Client Portal to help identify buyer growth opportunities more strategically and build stronger, longer-lasting supplier relationships. With its advanced features, the new Growth Center enables businesses to explore buyer needs, spot trends and optimize key steps in the order-to-cash (O2C) process. Integrated into TreviPay’s global payments network, the customizable add-ons will help businesses use their O2C programs to deepen buyer relationships and drive lasting engagement.
AYU Alternative Investment Network Launches Direct Capital Matching Service
AYU, the global private members' community for family offices and alternative investment funds, is launching AYU Capital, a matching service connecting funds and founders with verified family office investors.
Chubb Appoints Scott Henck Global Chief Actuary
Chubb announced that Scott Henck, Executive Vice President and Chief Actuary, North America, has been appointed Senior Vice President, Chubb Group and Chief Actuary