Design Challenges for GDPR RegTech

Paul Ryan, Martin Crane, Rob Brennan

Abstract

The Accountability Principle of the GDPR requires that an organisation can demonstrate compliance with the regulations. A survey of GDPR compliance software solutions shows significant gaps in their ability to demonstrate compliance. In contrast, RegTech has recently brought great success to financial compliance, resulting in reduced risk, cost saving and enhanced financial regulatory compliance. It is shown that many GDPR solutions lack interoperability features such as standard APIs, meta-data or reports and they are not supported by published methodologies or evidence to support their validity or even utility. A proof of concept prototype was explored using a regulator based self-assessment checklist to establish if RegTech best practice could improve the demonstration of GDPR compliance. The application of a RegTech approach provides opportunities for demonstrable and validated GDPR compliance, notwithstanding the risk reductions and cost savings that RegTech can deliver. This paper demonstrates a RegTech approach to GDPR compliance can facilitate an organisation meeting its accountability obligations.

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Paper Citation


in Harvard Style

Ryan P., Crane M. and Brennan R. (2020). Design Challenges for GDPR RegTech.In Proceedings of the 22nd International Conference on Enterprise Information Systems - Volume 2: ICEIS, ISBN 978-989-758-423-7, pages 787-795. DOI: 10.5220/0009464507870795


in Bibtex Style

@conference{iceis20,
author={Paul Ryan and Martin Crane and Rob Brennan},
title={Design Challenges for GDPR RegTech},
booktitle={Proceedings of the 22nd International Conference on Enterprise Information Systems - Volume 2: ICEIS,},
year={2020},
pages={787-795},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0009464507870795},
isbn={978-989-758-423-7},
}


in EndNote Style

TY - CONF

JO - Proceedings of the 22nd International Conference on Enterprise Information Systems - Volume 2: ICEIS,
TI - Design Challenges for GDPR RegTech
SN - 978-989-758-423-7
AU - Ryan P.
AU - Crane M.
AU - Brennan R.
PY - 2020
SP - 787
EP - 795
DO - 10.5220/0009464507870795