Privacy Compliance for Banking & Financial Services

Data Protection, Privacy & Security Laws, Regulations and mandates for Banking & Financial Services Organizations are stringent across countries. In addition to National & State Laws, various financial sector regulators have their own specific Privacy & Security mandates.

Arrka equips you to implement and manage it all end-to-end.

Integrated Compliance

Arrka’s integrated compliance framework powering the Arrka Platform weaves all the diverse, scattered compliance requirements together. So you can manage your compliance in an integrated manner. And add on new laws & regulations as needed, anytime.

Out-of-the-Box Roll-Out & Management

Arrka’s experience & expertise in operationalising Privacy compliance has been baked into our platform. As a result, you get all that you need readymade. With minimal customization. Just get started. And keep going – as long as you need to remain compliant.

Arrka empowers you throughout your Compliance Lifecycle

Across multiple Banking & Financial Services related Laws, Regulations, Standards and Mandates

Yet to start?

Struggling to get started? The Arrka platform gets you going. Whether one law or multiple ones. In one go.

Somewhere there?

Some Policies & Templates documented. A few implemented. Yet to get going on the others. The Arrka platform streamlines all activities & processes.

All done?

Yayy! Now to ensure you remain compliant. And bring on an additional law or standard if required. The Arrka platform empowers you to do that. Throughout your journey.

All that you need – in one place.

Simplified & Quick Assessments

Gap Assessments, Impact Assessments, Third-Party Risk Assessments, Client Assessments — all out-of-the-box.

Policies, Templates, Workflows & Evidences on tap

Generate your privacy & Security policies, deploy off-the-shelf templates, set up and manage process workflows and build evidences.

Handy Built-in Tools

Asset Register, Personal Data Inventory, Vendor Risk Management, Provisioning/ Deprovisioning and many others to help your Privacy & Security program.

KPIs, Metrics & Dashboards

Leverage preset Privacy & Security KPIs or configure your own to track & measure your programs on a continual basis. Generate Alerts & Reports as required.

FAQs on Compliance for Banking & Financial Services

What is special about Arrka’s Solution for the Banking & Financial Services sector?
  • Arrka has been working with various types and sizes of Banking, Financial Services and Insurance (BFSI) Sector organizations across multiple geographies on their Data Privacy and Infosec Compliance requirements. From Large & Small Banks to NBFCs to Mutual Funds to Fintechs, we have seen the kind of challenges that are faced by organizations in this sector. They not only have to address the requirements of laws and regulations specific to the Privacy/ Security of financial and related data but also look at other sectoral laws, standards and mandates that embed Privacy and Infosec requirements within them.
  • This translates into two core issues these organizations have to deal with:
    • Understand all the laws/regulations/standards/guidelines that are applicable to them in the first place. The more geographies they operate in, the more complex this gets
    • Put them all together and implement a solution that works across these disparate compliance requirements and, furthermore, keep up with the frequent updates and/or new compliance requirements that come up from time to time.
  • It is exactly these two challenges that Arrka’s solution takes head-on and addresses. We have analysed various BFSI related laws & regulations, integrated them onto an underlying robust framework and developed a holistic solution that meets not just the current requirements but also has the ability to take on anything new that comes up on the horizon. What’s more, our team continually scans and adds on new compliance requirements that come up.
  • Our solution comprises our robust frameworks and methodologies, various intelligence engines & repositories as well as separate modules in the form of easy-to-use templates, workflows and dashboards.
  • All of this is baked into the Arrka platform and pushed under the hood – so our clients can simply focus on their business while Arrka works quietly in the background to ensure their Data Privacy and Infosec compliances are taken care of.
We have an Infosec and/or privacy policy and the required documentation already in place. Are we not already compliant? What more is needed?
  • Your policy needs to be translated into reality.
    • For eg, when you state in your policy that you use the Personal Data you collect only for a list of, say, 5 purposes, then you need to ensure that you put the right processes and controls in place to ensure that actually happens in reality. Further, you need to monitor these to ensure they actually work.
    • Similarly, your Infosec policy may state that you have an asset inventory and a password policy of using passwords of a minimum length of 8 characters that needs to be changed every three months. These need to be actually implemented and you need to have evidence of the same.
  • All of this – and more – can be deployed and managed easily and effectively with Arrka’s solution.
We don’t have people who have the time and bandwidth to figure out the Arrka platform and how it needs to be used. Can you just take over and handle everything for us end-to-end?
  • Absolutely! We layer our consulting services on top of the platform to offer you Virtual CISO (Chief Information Security Officer) and Virtual CPO (Chief Privacy Officer) Services. So, in effect, we manage your security and privacy programs for you.
We would like to get some certifications (like ISO 27001/ 27701). Can Arrka do that as well?
  • Our platform provides out-of-the-box readiness for some popular certifications (like ISO 27001/27701). For the rest, our consulting team works with you to help you with some of the highly specialized ones.
We have users and clients across many different countries – each of whom have their own privacy/ security laws and regulations for BFSI. How does the Arrka solution work in this case?
  • The Arrka platform is designed to help you do ‘simultaneous compliance’. Which means you can comply with all the applicable Data Privacy & Security Laws & Standards simultaneously, in one go. Further, you can add on any new law or standard anytime without having to go back to the starting point.
  • This is great news. The Arrka platform perfectly synchronises with the work done by your legal counsel and operationalises all that the legal team does. In other words, we help you bring into practice all the documents that your legal counsel has drafted.
If we use the Arrka solution, will our customer or employee customer data reside on the Arrka platform?
  • Not at all! Your data continues to remain exactly where it is. The Arrka platform only helps you manage the compliance end-to-end, for which we do not need access to the actual data at any point in time.
If we use the Arrka solution, will we need to deploy anything on our servers?
  • Nothing is required to be installed or deployed on your servers
If we need to reach out and talk to a Privacy/ Security expert at any point in time, can Arrka help with that?
  • Yes, Arrka has a pool of Experts who can step in to help you with any queries you have or any assistance you may need.

Complying with multiple laws and standards can be daunting

We understand that your business is complex, probably spread across multiple countries, each with its own privacy and security laws and regulations. With Arrka, you can do it all.