How banks and regulators can securely share insights without exposing data

Reporting within financial systems

To keep financial systems robust, regulators require banks to report on many different topics. This includes for instance, details on loan portfolios to assess risk and capital requirements, or details on investment portfolios to assess whether banks are selling appropriate products to their clients.

Reporting often involves individual product and client-level data; typically including many details related to the client, such as loan amount, property location and income. Even though this information may not be directly classified as personal information, re-identification of individuals – especially in combination with other data – could be fairly easy.

Banks will not share client or product-related information unless there is a clear legal basis. However, even with legal basis, the question is whether this approach is optimal. In the end, regulators are not interested in every single record. The regulator is either interested in an aggregated perspective, or interested in particular clients that do not meet specific requirements (for instance clients holding investment products that are not in line with their experience or wealth).


Protect privacy and improve data security

With Roseman Labs, banks and regulators can take a completely different approach. Instead of sharing vast amounts of individual data, banks can make their information available on the Roseman Labs platform. Regulators then run only dedicated analyses that have been agreed with and approved by the banks. The detailed information remains invisible and only the aggregated information, or the specific data of, for instance, an investment portfolio not meeting certain conditions, are disclosed.

This approach has a number of benefits for both parties. Data security is higher because there is no more data sharing between parties. Privacy is better protected because no individual records are disclosed outside the bank. GDPR compliance is stronger because data is vastly minimized and banks keep full control on what the data is used for. Last but not least, the approach offers more flexibility because, rather than making very specific data sets for different purposes, banks make a broader set available on the Roseman Labs platform and then approve access to specific analyses related to specific reporting needs.


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