We’re on our way to Frankfurt for KuppingerCole Digital Finance World 2018! It's an event that attracts many of the world’s brightest banking professionals and digital innovators, coming together to discuss the ongoing transformation of financial services. Thursday March 1st will be a particularly busy day for the ForgeRock team at the event. At noon I’m speaking on the “Impact of GDPR on CIAM” panel alongside iWelcome and Ddaas. And just a few hours later at 3 pm, I’ll be discussing “PSD2 and the Identity Problem” with Know Your Customer and WSO2. Through the experiences of ForgeRock's multiple financial services customers, I'm hoping to bring perspective on the role of identity and how the ForgeRock Identity Platform can help to address these significant business issues.
PSD2 & GDPR = A Big Year for Financial Services
2018 is a big year for financial services from a regulatory perspective. PSD2 and GDPR are set to have a major impact on businesses and consumers. The PSD2 regulations, which went into effect in January, are meant to drive innovation and give non-bank organizations the chance the compete in the financial services industry. GDPR, coming in May, is one of the world’s most comprehensive data privacy laws, giving consumers greater control and protections over their personal data. While PSD2 builds a secure bridge for data sharing, GDPR is there to ensure consumers can manage what data is being shared. This creates tough challenges but also lucrative business opportunities for fintech and banking institutions. Customer identity and access management (CIAM) is one way organizations can build trusted relationships with their customers and comply with regulation around privacy and consent.
If you’re going to the conference, make sure you check out both panels on March 1st to learn how you can use identity to meet these regulations and give yourself a competitive advantage. I’m looking forward to meeting all of you who will be in attendance, and sharing ideas on the best way in which we can navigate the digital banking revolution! For more information, check out our PSD2 infographic, or visit our Financial Services solutions page to learn more about how your organization can benefit from digital identity.