Avaloq is a global leader in digital banking solutions, core banking software and wealth management technology. More than 150 banks and wealth managers worldwide trust Avaloq for its innovative products and services. Operating in an already heavily regulated industry, ensuring personal data is processed fairly and in compliance with applicable regulations is a top priority for Juhamatti Järvi, Avaloq’s Data Protection Officer for Switzerland and Liechtenstein, which is the company’s home market. As a result, Avaloq sought a tool that would help enhance their privacy research. Since 2018, OneTrust DataGuidance, combined with other tools from the OneTrust suite, has helped Avaloq to streamline its processes and to make privacy a competitive advantage for its state–of–the-art digital banking solutions.
Data protection is one of the many elements of compliance that companies need to navigate in the financial sector and failing to do so can potentially result in reputational damage and substantial fines. Therefore, it is essential for Avaloq to have a source of trustworthy information at hand when conducting day-to-day business and providing back-office support to its clients.