Fintechs & privacy

Disruption of financial services and privacy...

FinTechs use of technology to better deliver financial products and services to individuals may make domestic and international privacy laws apply to them.  Yet early to mid-stage organizations often do not even know that these laws may be applicable to them, and if they are familiar with these laws, organizations are not ready to invest in a full-time privacy expert or the hourly services of a privacy lawyer.  Trying to find these laws, figure out what laws might apply, and determine how these laws might apply can be time consuming and confusing for organizations.  The lack of knowledge or the inability to find the information and apply it often leads organizations to fail to seek guidance.  This inaction can expose organizations to regulatory fines, damage claims, and reputational harm.  A cost effective solution is available – Indicium, whose founder Lynn Goldstein has worked as a litigator, credit card lawyer and chief privacy officer for some of the nation’s largest banks.  On Indicium’s website, the most frequently asked questions have been answered about the most common privacy laws applicable to FinTechs.  No more trying to find the laws.  No more guessing what laws might apply.  No more trying to figure out how the laws might apply.  For a small fee, each FinTech shares in access to this information.  If this basic level of service is not enough, for an additional fee, Indicium’s customized services through an experienced privacy professional are available.