As of May 2018, European organizations must comply with the EU General Data Protection Regulation (GDPR), a set of rules designed to put individuals in control of PII data stored by institutions, and create significant liabilities for non-compliance.
The GDPR introduces additional rights to Data Subjects (end-users) for protecting their personal data and describes the responsibilities of Data Processors and Data Controllers in protecting personal data. Data Controllers are the entity, such as a bank, that determines what personal data is captured and how it is to be used. Avoka functions as a Data Processor, an entity involved in providing services that process, store or transmit the data on behalf of the Data Controller.
GDPR creates requirements for new classes of services and transactions that Controllers must provide for Data Subjects, such as inquiries into the data that a Controller has stored on a Subject, and requests to delete all or portions of the Subject record.
Avoka Transact is a platform for customer engagement, specialized in managing complex customer transactions.
GDPR puts complex burdens on the Customer Experience (CX), requiring a dedicated engagement system to handle the new requirements for consent, access rights, and identity verification to ensure compliance. Avoka Transact is uniquely suited to help institutions rapidly develop, deploy and adapt those customer experiences as demands evolve.