How can GDPR Improve Your Customer Experience?

How can GDPR Improve Your Customer Experience?

Maria Nordgren

VP, Sales, Security Services at Tieto

Views 606

How can GDPR Improve Your Customer Experience?

24.04.2017 08:30 am

Imagine it’s the summer of 2018. The GDPR is fully enforced, and thanks to the regulation, you are beating your competition by making your customers happier than ever. How could that happen?

Typically, the General Data Protection Regulation, or GDPR, is considered a burden imposed upon us by the EU. Yes, implementing it is indeed a considerable challenge for every organization that handles personal data. But that is not the whole truth.

It is more useful and encouraging to look at the implications of GDPR as a business opportunity. This way your scope will not be limited to seeing just a pile of tasks that must be done in order to comply. Instead, with each step towards compliance you should constantly keep the customer in your focus: How can I improve the customer experience through the things I do?

1. Empower and build trust

Currently, you may still have a less than perfect way to inform your customers how you collect, handle, and store their personal data. Under GDPR, you are required to ask for explicit consent and clarify how you use the customers’ data and make sure it always remains secure.

On top of that, you should let customers review their data anytime they like, ask for updates of their data and even allow full erasure upon request.

Turn these tough requirements into new strengths.  

Empower your customers by proving them that they truly have ownership of their personal data. They will feel happy about your transparency.  

Compare this to the present situation: Way too often it is hard for the customer to even realize when their consent is asked or when they make a binding contract concerning their sensitive data and what will happen to it.

In this context, if your competitor appears obscure and vague, and gives the impression of being hideous, while you are transparent and empowering: isn’t it obvious which one of you will shine in the eyes of the customer?

Another thing to consider is trust. Each step you take to be compliant, including all the improvements you make to the security of personal data, helps you build trust. Communicating your compliance allows you to emphasize your trustworthiness as a partner.  

And reliability is the basis of all lasting relationships. By implementing GDPR your “trust ranking” may climb higher than ever before.

2. A full view of each customer

The preparation for GDPR may force you to upgrade major IT systems that are obsolete or about to become such. This will be a blow for your budget in the short term, but in the long run it will do you good. Quite probably, your renewed IT will bring along plenty of ways to offer new solutions and services that benefit you and your customers.

Just think of the potential of consolidating data from deep silos into a uniform platform. This will enable a full 360 degree view of each customer. Visibility enables you to serve them better, to respond to their requests, to engage them in ways they prefer, to pinpoint their needs in one moment of time – and to be aware of any warning signals of churn.

Another aspect that is rarely mentioned is data portability. The GDPR demands that each customer must have the right to transfer their data anywhere they like (EU’s pdf about data portability).

Even this can be turned into a business benefit. OK, you are forced to create data assets that enable data portability. Whatever technical methods you choose to use, the result will be a more agile and future-proof system, even if no-one ever wishes to move their data.

And we should not forget this important bonus: You become ready to receive data transferred from a competitor and get the data histories of your new customers!

Excel in GDPR, and it will not take long before new customers are flocking on your doorstep.

This article originally appeared on

Latest blogs

n/a n/a

How COVID-19 Is Ushering In a New Era of Cashless Technology

  Image source:   Cashless technology isn't a completely fresh concept. People have been using credit cards for decades, and the market for fintech services has been Read more »

Jean Shin tyntec

Using WhatsApp for 2FA is the Future of Banking

From user authentication and password resets to transaction verification, two-factor authentication (2FA) offers basic but useful protection for consumers. The 2FA process typically sends an SMS sent to the customer with a one-time password (OTP). Read more »

Amir Ghodrati App Annie

The Role of Fintech Apps in Navigating This Period of Financial Insecurity

Economic instability has been ricocheting throughout the stock market in the wake of the global coronavirus pandemic. Its effects have been felt across all industries, with winners and losers’ across different sectors. So, how has fintech Read more »

n/a n/a

How to Choose a VPN for Digital Privacy & Security

In a world where almost everything is connected, and where hackers and other malicious people are roaming the internet, it is always advisable that you take every precaution that you can to enhance your data security and privacy protections. Using a Read more »

Ben Slater Instaclustr

The Case for Adopting Open Source – Own Rather Than Rent the Foundations of Your Business

For some time open source was seen as something that only the biggest companies could use and play with. But with the modern, increasingly fast business environment, the use cases for open source are in everything and the technology is increasingly Read more »

Related Blogs

Gary Williams Spitch

Why Speech Speaks Volumes in Banking Fraud Prevention

While many consumers have migrated to digital banking for everyday transactions, there are instances where a person is required to phone their bank or credit card provider to deal with urgent or complex enquiries. Similarly, there may be cause for a Read more »

Dmytro Volkov CEX.IO

Security Basics: 5 Signs of Phishing

A recent WatchGuard Technologies survey showed that 86% of UK companies expect an increase in cyberattacks in the next 12 months. One big threat in particular is phishing attacks linked to COVID-19, which have recently been gaining popularity among Read more »

Fraser King Vodafone Business

Protecting the End-user at All Costs: How to Stop Cyber Fraud on Mobile

In an age of large-scale data breaches and advanced social engineering tactics, it’s clear that the fight against cybercrime never stops. This has only been amplified by the coronavirus pandemic, which has provided fertile ground for cybercriminals Read more »

Tom Kellermann VMware Carbon Black

Modern Bank Heist: from smash and grab to hostage situation as cyberthieves evolve

The financial sector is historically one of the most secure industries in the world. It needs to earn trust and convince customers that their hard-earned money is safe. Nevertheless, the fact that banks are guardians of the one thing cyber criminals Read more »

Mikkel Stegmann Fingerprints

Convenience + Security: The Maths of Multi-Modal Authentication

For today’s efficiency-loving consumers, convenience is more important than ever. When it comes to unlocking our smartphones, for example, the hassle of having to remember PINs and passwords has been long discarded in favour of quick and easy Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel