GDPR - Market Research

Dear All,

Please can you help with some market research I am performing.

I’m trying to assess whether there is a market pull in the Fintech market for a product that enables automated GDPR compliance and protection of customers personal data.

Firstly, I am not trying to sell anything but I’m after genuine advice.

My question to the forum is to understand whether the Fintech market suffers with a lack of a scalable technological solution that enables GDPR compliance?

Also, is GDPR compliance costly and a drain on finances, or does the Fintech market have GDPR compliance under control?

I recognise that most companies would have invested a significant amount in attaining compliance when the legislation arrived, however I’m trying to assess whether GDPR compliance is an ongoing problem.

Any feedback would be greatly appreciated.

Kind regards

Steve Billett
CEO - Datona Labs

I think Financial Technology probably is one of the more easier to comply with GDPR industries, considering finances have always been pretty private

How do you define GDPR compliance?

GDPR compliance is not just a box you can tick. To actually be GDPR compliant you need to rearchitect your entire product, monetization and marketing strategy.

If you want to pretend to be GDPR compliant (like the majority of companies today do), then you don’t have to do anything else beyond claiming to be compliant, as there is a significant lack of enforcement and the ICO is totally incompetent.