Roxana Ionescu, Partner and Co-head of NNDKP’s Data Protection practice, was a speaker at this year’s edition of ZF Digital Summit organized by Ziarul Financiar between 8-10 November 2022, which brought together the most important leaders in the telecommunications and high-tech industries in Romania.
Roxana joined the discussions in the panel “Digitalization in banking. What do clients want and for what are they willing to pay?” and outlined the challenges posed by digitalization in the financial sector, from a legal perspective.
“As regards the legal framework, this covers more than data protection aspects. It is a well-known fact that banking is one of the most regulated sectors. We should not overlook the legal requirements in place, KYC rules and all requirements and data collected to comply with these rules. Also, there are requirements to ensure access to data, for portability purposes or to comply with PSD 2 requirements. Any product developed by banks or fintech or any other digital industry players entails constant monitoring of the existing legal requirements, not only to identify the don’ts, but, more importantly, to integrate the requirements in the respective products so as not to have any surprise when they are launched”, said Roxana.