We live outside the tick-box and breathe imagination. We deliver cutting-edge training, intuitive software and unparalleled expertise. VinciWorks has been reimagining compliance since 2004, leaping forward so you’re always one step ahead.
IT meltdown causes issues for customers
We live outside the tick-box and breathe imagination. We deliver cutting-edge training, intuitive software and unparalleled expertise. VinciWorks has been reimagining compliance since 2004, leaping forward so you’re always one step ahead.
Spending time looking for your parcel around the neighbourhood is a thing of the past. That’s a promise.
Spending time looking for your parcel around the neighbourhood is a thing of the past. That’s a promise.
TSB customers have been locked out of their accounts after TSB migrated their customer data to a new IT system. Despite TSB being told their new platform was ready for the transfer, the system had not been tested sufficiently, according to IBM, who were called in to help with the crisis.
This led to many customers being locked out of their accounts, with others being given access to customers’ confidential records.
The IT meltdown cost TSB £176.4 million and around 26,000 customer accounts, with unhappy customers having migrated to other banks. Which? money expert, Gareth Shaw, said: “Customers can incur fines, penalties and fees when they’re not able to access their finances, so the bank must offer compensation to all those affected.”
Though the company has, in fact, offered compensation of up to £100 to some of those affected, many customers feel as though the bank should be doing more to help them recover from the crisis.
As a result of the ongoing IT fiasco still affecting customers today, Paul Pester has resigned after working as TSB’s Chief Executive for 7 years. Richard Meddings – the bank’s chairman – has since taken over the role, claiming that “whilst there is still work to do to achieve full stability for customers, TSB’s systems and services are much improved since the bank’s IT migration earlier this year.”
By implementing ISO 27001, you can help ensure that both you and your customers’ data remains secure. The standard provides thorough guidance on complying to regulatory and contractual requirements regarding data security, privacy, and IT governance. For more information click here.
How are you managing your GDPR compliance requirements?
GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.
GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.
“In a world older and more complete than ours they move finished and complete, gifted with extensions of the senses we have lost or never attained, living by voices we shall never hear.”
James
VinciWorks CEO, VInciWorks
Spending time looking for your parcel around the neighbourhood is a thing of the past. That’s a promise.
How are you managing your GDPR compliance requirements?
GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.
GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.
How are you managing your GDPR compliance requirements?
GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.
GDPR added a significant compliance burden on DPOs and data processors. Data breaches must be reported to the authorities within 72 hours, each new data processing activity needs to be documented and Data Protection Impact Assessments (DPIA) must be carried out for processing that is likely to result in a high risk to individuals. Penalties for breaching GDPR can reach into the tens of millions of Euros.