The importance of GDPR and PSD2

Privacy is Loyall's highest focus. Learn more about how we handle GDPR and PSD2 directives.

What is GDPR?

The GDPR is a law designed to protect EU citizens from illegal, unreliable and inconsistent processing and use of personal data.

The legislation applies to companies that process data for citizens of the European Union (EU) and the European Economic Area (EEA/EØS), which process personal data. The regulations give businesses a number of duties in addition to give the user a number of rights.

Data processing must be based on a valid treatment basis, such as active consent where the purpose of the treatment is clear and relevant. Companies also have a requirement to incorporate privacy by design and be transparent about how they process data. They also must facilitate all user rights, as well as  create and maintain a range of actions to protect privacy and document.

Some User Rights

Transparent

Companies that process data must be clear and transparent about the purpose of data processing.

Delete

Also known as the right of being forgotten, gives the user the right to delete their data.

Unsubscribe

Users have the right to unsubscribe from some or all lists of communications.

Complain

In certain circumstances, users have the right to object their data processing.

Data Portability

A user has the right to retain and reuse their personal data for other purposes.

Profiling

Users must give explicit consent for companies to profile their data.

Insight

Users have the right to know exactly what information is held about them and how it's processed.

Restrict

Users have the right to block or limit processing of their personal data.

How Loyall handles GDPR

Privacy is one of Loyall's highest focuses, where our values reflect good ethics, relevance and always on the guest's own terms.

User rights are up to date, and we always strive to create solutions with incorporated privacy in design, and help companies meet their privacy needs to be able to communicate relevant, to the right person, at the right time.

With Loyall, you can safely capture data without being concerned about staying compliant.

Want to learn more about how to create unique customer experiences with GDPR?

What is PSD2?

PSD2 is the second Payment Services Directive, designed by the countries of the European Union.


It could revolutionise the payments industry, affecting everything from the way we pay online, to what information we see when making a payment.

The purpose of PSD2 is to enable third parties to create new Financial Services through open APIs to customers' bank accounts.

Before PSD2

After PSD2

How PSD2 improves Loyall

PSD2 is a drastic change in the way that banks control accounts.

For approved third parties, such as Loyall, this provides the opportunity to collect data and exercise services such as viewing transaction history and making payments, which were previously reserved for banks.

Want to learn more about how to create unique customer experiences with the opportunities PSD2 provides?

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