London-based automation services company Symphony Ventures, in collaboration with information security firm IT Governance, has launched a new automated solution focused on helping clients comply with the General Data Protection Regulation (GDPR).
The announcement comes in the lead-up to the May 25 compliance deadline for the European Union regulation and promotes an “intelligent automation” offering that pledges to add speed and efficiency to the process.
The genesis of GDPR dates back more than four years, and the European Union warns that “organizations in non-compliance may face heavy fines.” According to the EU compliance guidance website, the new regulation, which effectively replaces the Data Protection Directive 95/46/EC, “was designed to harmonize data privacy laws across Europe, to protect and empower all EU citizens data privacy and to reshape the way organizations across the region approach data privacy.”
In addition to IT Governance, Symphony said that it is also working in this area with other compliance, security, and technology organizations in planning for and implementing a “complete compliance support service.” The regtech solution centers around offering a team specialized in data protection, information security, and document management.
“Rather than hiring an army of data administrators, organizations can use digital solutions that deliver greater accuracy, assurance, and reliability,” said Chris Gayner, head of the Symphony Labs division of Symphony Ventures. “We’re eager to roll out our GDPR initiative and bring our automation expertise and implementation capabilities to bear.”
Alan Calder, founder and chief executive officer of IT Governance, highlighted the urgency to comply with a regulation deadline that many firms are likely to miss. “The imminent compliance deadline, fines incurred for data breaches, and continuously evolving cyber threats mean organizations can no longer risk delaying compliance,” said Calder.
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