European Supervisory Authorities Issue Joint Discussion Paper on The Use of Big Data By Financial Institutions

ESMA, EBA and EIOPA – Joint Committee Discussion Paper on The Use of Big Data By Financial Institutions

Under the forthcoming GDPR, organisations will need to acknowledge the wide range of rights that will be afforded to consumers by implementing mechanisms to comply with a request for human intervention in profiling, and objection to a decision based on profiling, or profiling for direct marketing purposes; financial institutions must implement appropriate technical and organisational measures at the time the processing system is designed, and during the data processing.

https://www.esma.europa.eu/sites/default/files/library/jc-2016-86_discussion_paper_big_data.pdf

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