The General Data Protection Regulation
What you need to know about GDPR
1. This is the biggest change in UK data privacy laws in 20 years
As technology continues to advance, the amount of personal data being generated and stored is increasing rapidly. Whenever you shop online, ‘like’ a picture on Facebook or Instagram or send out a tweet you are generating data which is why the law needs updating to better protect people.
As part of the GDPR (General Data Protection Regulation) all companies have to review how they manage personal data – from customer email addresses to employee’s bank details and ensure they’re GDPR ready by the 25th May 2018.
2. It gives you more control over your personal data
The purpose of GDPR is to give you more control on how your personal data is used. You have greater visibility and control over the personal data that organisations hold about you – this could be something as simple as your name or as sensitive as medical information. GDPR ensures that you can be confident that information about you is accurate, up to date and stored and managed correctly.
3. You choose who contacts you and how
Over the coming weeks and months you will notice lots more organisations asking for your consent, or to re-confirm your consent, so that they can continue to market to you about offers, products or services that they think you may be interested in or find useful. In order to comply with GDPR these requests must be clear and straightforward. You get to choose who contacts you and how, for example by email, social media or phone.
4. You can change your mind at any time
Just because you gave an organisation permission to contact you doesn’t mean that you can’t change your mind in the future. Under GDPR it will be easier for you to update your preferences on what you want to receive and how.
5. Your data will be better protected
GDPR aims to make sure that all organisations that hold personal data have the correct processes in place to protect it. Organisations that fail to meet this standards face hefty fines and penalties.
What happens next
As a user of a Warwick Financial Services website we may contact you (where necessary)and ask how you would like to receive information and be contacted by us.
Your personal data is safe with Warwick Financial Services.
We do: Use some personal data to ensure we are able to provide an excellent customer experience, which includes tailoring the information we share with you to help ensure it is relevant, useful and timely.
We do: Take the use of your personal information extremely seriously and we respect your privacy and work hard to ensure that we meet strict regulatory requirements.
We do not: Sell your personal data to third parties
If you have any questions or queries please contact us at any time.