Regulation and compliance
Getting regulation and privacy right
Banking, insurance and financial services are industries that are heavily regulated, but other sectors too need to comply with regulations such as GDPR. TrustBuilder helps them achieve the right level of compliance, while enhancing customer experience.
TrustBuilder puts you on the safe side of compliance
As our roots are in Europe, TrustBuilder attaches great importance to following directives such as GDRP, PSD2 and our solutions support Open Banking.
Know your Customers (KYC)
In the battle against money laundering, banks and financial institutions are required to make an effort to verify the identity, suitability and risks involved in having a business relationship with individuals or organizations. At the same time, this requirement to Know your Customer (or Know your Client) also enables businesses to better understand their customers and their financial dealings. TrustBuilder provides full support for KYC, thanks to our connections to a multitude of Identity Providers who provide a high Identity Assurance Level. TrustBuilder.io allows identification through a host of Identity Providers, both local and international: itsme, iDin, eHerkenning, DigiD, France Connect, SwissID and many more.
Compliance with GDPR
For consumers it is essential to know that organizations pay special attention to the secure management of their personal data. Stories of high-profile breaches have raised awareness even further. Consumers logging into applications protected by TrustBuilder are invited to have their data recorded and tracked in line with GDPR. What’s more: end-users can give or revoke their consent for sharing personal data with all applications. Thanks to our user self-management capabilities, users can change their personal data, attributes, request new passwords, update/revoke already provided consents, etc.
Support for Open Banking, PSD2
Open banking brings huge opportunities for anyone active in the financial services market. Banks exchange data with each other and with other third parties and build ecosystems of services to complement their own offering. TrustBuilder.io delivers the right connections to Identity Providers and Service Providers to bring new services to market quickly. And our API Security capabilities guarantee security to all the partners involved: the bank itself, partners and customers.
In the battle against terrorism and other criminal activities, financial institutions need to take the necessary measures against anti-money laundering (AML). There are both European and international regulations that financial institutions have to comply with. TrustBuilder integrates through APIs, connecting your risk management system to external systems that deliver the latest up-to-date information on the fly, thus avoiding false positives.
To protect consumer privacy, browsers are gradually phasing out third-party cookies. This has an impact on the way IAM works, as authentication often uses external Identity Providers. When these IdPs send a redirect from a different domain name, the user and his access request cannot be recognized. TrustBuilder has adapted its products to reflect this change in behavior of all major browsers. Customers can rest assured that the further phasing-out of third-party cookies will not affect their access management.