Is your Credit Union GDPR Compliant? by Intuity

Importance of IT

Over the last 30 years the importance of IT for Credit Union’s has developed with technology itself and very often these developments and the adaption thereof are very much a matter of preference, driven by the Credit Union manager and board.

Now a Credit Union, their staff and members require so much more that technology can deliver – all their application support, hardware, software and cloud requirements need to be catered for. Downtime is no longer an option – the cost per hour to a Credit Union is much too great a risk not to mention the threat to the security of endpoint perimeters, never mind all the precious data the Credit Union is responsible for.

Data has been recognised as the new oil for this generation and therefore the security and management of this data are crucial to utilising and nurturing your precious resource. As a result, when finalising the growth strategy and development plans for your Credit Union, it is very important you align your IT Strategy and IT plans to them.

Key Areas

Here are some key areas we would suggest you consider to this end:

• IT Vulnerability Assessments

Imagine the IT equivalent of an advanced medical assessment to check for underlying issues with no visible symptoms. This is what an IT Vulnerability Assessment is. This process helps Credit Unions prepare for their regulatory compliance requirements including their GDPR security and resilience compliance. The process should take a partnership approach, working with your provider and internal team to identify potential weaknesses and threats to your system and therefore business.

• Cyber Essentials Certification

Cyber Essentials is a government backed cyber security standard designed to protect organisations from the risks and reputational damage of an all too common cyber-attack. Having the Cyber Essentials logo is widely regarded as clearly demonstrating your organisations commitment to protecting your and your members data. Achieving this certification is simple – just find an approved provider who can walk you through the process.

• Security Awareness Training (SAT)

The GDPR requirement for Security Awareness Training is a one-time event for each employee although in our experience, most companies find this educational process so valuable that they repeat it at least annually for all key staff members. Cyber Risk Aware is frequently used – this online training platform allows staff to refresh, upskill and reduce risk without any unnecessary drain on the Credit Unions’ resources.

• GDPR Policies

As part of their GDPR compliance journey, many Credit Unions will look at their data mapping, IT Risk and IT Security Policies.  These policies help further demonstrate the Credit Union’s compliance with GDPR.

These are just some of the steps you might consider when future proofing your Credit Union. The team at Intuity would be more than happy to talk to you about any or all of these steps at our stand at CUMA.

If you would prefer a conversation in advance – do call us on 1890 987 900 today and Donal, TJ or Roy will be more than happy to help.

Donal Murphy

Head of Sales & Marketing

00353 86 360 411

Donal.murphy@intuity.ie

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Roy O’ Hanlon

Head of Professional Services

00353 86 831 5832

Roy.ohanlon@intuity.ie

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