Fortifying Compliance and Data Security in Digital Banking with Redtag

Salesforce solution provides the highest safety standards for customer data at digital bank, ensuring full compliance with strict GDPR requirements

The client is a digital bank focused on serving business owners, offering loans to entrepreneurs, and connecting them with lending partners. As a financial entity operating within the EU, the bank is obligated to adhere to the General Data Protection Regulation (GDPR). A crucial requirement of GDPR for financial institutions is the establishment of a comprehensive record of personal data. This ensures that customers can, at any moment, retract their permission for data usage. Such withdrawals must be accurately recorded by the bank, and at the same time be straightforward and user-friendly for customers.
Partners since:
Salesforce Financial Services Cloud
Salesforce Service Cloud
Shield Platform Encryption
API Integrations
Salesforce Flow
The challenges

Tackling Challenges in the GDPR Area

Our digital bank faced a unique challenge: transitioning their customer data from their old CRM system. The stakes were high – safeguarding personal data according to GDPR standards while transferring large volumes of customer information.

The task was clear: ensure every update and change in customer data was meticulously tracked and in line with regulatory demands. In this move, Salesforce was to become the primary data repository.

The solution

Shifting Data to Salesforce with GDPR in Mind

From the outset, Redtag was deeply involved in the bank's GDPR solution design process. The focus was on integrating Salesforce's standard features to strike a balance between robustness and manageability. Platform Shield Encryption was chosen to secure sensitive customer data.

This meant that even in breach scenarios, the data remained encrypted and safe. Additionally, Salesforce Field Tracking History was implemented, creating a precise log of all data changes. This step ensured every adjustment corresponded to GDPR's tracking requirements.


A New Benchmark in Data Security and Compliance

The bank's adoption of Salesforce, guided by Redtag's expertise, led to a significant leap in GDPR compliance and data security. The enhanced protocols put in place fortified the bank against data breaches, ensuring they could grapple with incidents effectively, maintain customer trust, and recover rapidly. This progress in safeguarding customer data privacy was acknowledged throughout the bank departments, demonstrating a substantial improvement in their approach to data security.

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