GDPR

Technology can help an organization scale internationally and help finance departments shift their focus from managing the details of supplier payment processing to delivering valuable guidance to the business, writes Chen Amit, CEO of Tipalti.

A lack of standardization increases costs and complexity at each bank, opens the door to insecure solutions and hinders adoption by software developers that only have bandwidth to write to one or two open APIs, according to Steve Kirsch, CEO and founder of Token.

International banks are also having to adapt to a raft of regional payment and data regulations that impact their operations in certain territories significantly but in others only negligibly, according to Russell Bennett, chief technology officer of Fraedom.

The rules are a chance for card issuers to update their data management, which would be helpful in sales and cross-selling, according to Michael Hiskey, head of strategy at Semarchy.

Protecting customer data should have always been a priority for companies. With GDPR, they now have a framework for teams across the organization to adopt and protect their customer data, writes Shanthala Balagopal, a product marketing executive at Helpshift.

There are forward-looking regulations that govern the landscape of how personal data gets collected, processed, analyzed, stored, retained, monetized, and accessed by any organization that collects data in the EU. Its goal is the protection of individual privacy and will require a multi-year strategy, according to Bassim Alkhafaji, a partner at Andra Capital.

We need to rethink how we acquire and manage consumer data, and any business using enterprise software needs to be accountable for how information is being processed, transported or shared, writes Chris Wong, CEO of LifeSite.