A Financial Institutions' Guide to Consent Management
Download this eBook to:
- Learn more about the basics of consent management
- Understand relevant laws and regulations for financial institutions
- Take a closer look at the steps needed to implement a consent management program
- Define the metrics for measuring success
Change in the financial services sector is being driven at rapid pace due to the proliferation of AI tools, new cyber threats, and increased regulation. The significance of consent has therefore escalated, driven by stringent data privacy laws and heightened consumer expectations.
Laws such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act, as amended (CCPA, as amended) require financial institutions obtain explicit consent from individuals before collecting, processing, or sharing their personal data.
Non-compliance can lead to substantial penalties and erode consumer trust. Consequently, consent management programs have become central for financial organizations aiming to navigate this complex regulatory environment.
