23 May 2018

Association of German Banks presents position paper on use of customer data

  • Use digitisation for the benefit of customers
  • Maintain customers’ trust in data protection
  • GDPR mustn’t make customer information less comprehensible

Digitisation generates a wealth of data that both banks and fintechs aim to use for the benefit of their customers. The Association of German Banks presented a paper on this today. “A key success factor here is maintaining customers’ trust in protection of their data. To this end, they need to retain control over their data – data sovereignty is the name of the game,” said Andreas Krautscheid, the association’s chief executive. At the same time, user-friendly applications ensuring this had to be developed.


The new European General Data Protection Regulation (GDPR) now harmonised the general conditions for using customer data. The new legal framework gave banks and their customers the chance to develop and obtain new, innovative services based on data sovereignty and transparency. “Data protection mustn’t act as a brake but instead be a condition for the success of our future business models,” Mr Krautscheid added.

The financial services industry was undergoing a sweeping transformation affecting retail business in particular. Mr Krautscheid stressed: “We foster cooperation between banks and fintechs and therefore play a proactive role in shaping the digital transformation.” The Association of German Banks’ joint Digital Banking Project Committee was instrumental in ensuring that common positions can be found.

The position paper “Use of data: balancing added value for customers and data protection” can be downloaded here. It is the result of intensive cooperation between banks and fintechs within the Association of German Banks’ Digital Banking Project Committee. The Project Committee is a high-level body comprising bank Chief Digital Officers (CDOs) and leading figures from the German fintech scene. For it, the association can now draw on 20 fintech companies as extraordinary members.


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