NATIONWIDE Vehicle Contracts, the number one leasing broker in the LBF T30, says it is targeting GDPR compliance is one of it’s major priorities as the award-winning brokerage heads into 2018.
GDPR, the new General Data Protection Regulation which comes into force in May 2018, is designed to protect consumers from unwanted phone calls and direct marketing. Failure to comply can leave companies exposed to potentially huge fines.
“For us achieving GDPR compliance is crucial. Everyone has until May 25 to get everything in place,” commented Keith Hawes, executive director at Nationwide and responsible for GDPR implementation at the brokerage.
“For example If brokers cannot provide tangeable proof that customers have ‘opted in’ to marketing and/or in life vehicle information then they have until the middle of May to be able to re-solicit their ‘opt in’. After that date it will be illegal to use existing data to communicate directly with them. Full stop.”
GDPR was one of the key topics tackled at the recent Leasing Broker Conference. David Topping, cyber and information security expert and British Standards author told delegates that while GDPR was happening, it was not such a big deal if they were already compliant with the Data Protection Act. It was, essentially, the next step up.
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But he warned brokers:
“Once technology takes a hold it happens much faster than anyone ever expects. There is plenty of demand out there for your services, cars and vans. So it’s essential to be properly prepared for GDPR.”
Keith Hawes added: “Any broker who has not yet started the process to implement the new rules it’s probably touch and go as to whether they will make the deadline comfortably.”
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