Today is Data Privacy Day! As companies are striving to provide the highest quality User Experience for customers, this day could be unsettling. The need to provide the most personalized experience is that much higher today. How are we safeguarding the exhilarating challenges of digital data privacy in 2021, we will tell you how.
Our CEO Ofer Tziperman offered his insights in a recent Retail Touchpoints article, “Balancing Consumer Privacy with Personalized Offers,” and discussed the challenges retailers face in reaching consumers with viable offers, as data privacy pressures mount.
Banks understand plenty about their retail customers’ financial behaviors and risk tolerances – but that’s far from the entire picture. Knowing customers beyond their direct interactions with their bank – through their day-to-day activities – will help financial institutions provide better services and gain an edge over competitors.
Businesses must review how data is collected, where it’s stored and how it’s processed, to determine whether they can get the same value out of information once it is anonymized to comply with GDPR and U.S. state regulations.