GDPR applies from 25 May 2018 to the processing of personal data wholly or partly by automated means and to the processing other than by automated means of personal data which form part of a filing system or are intended to form part of a filing system. Financial institutions are covered by its scope of application in relation to their clients, employees, providers, shareholders. The implementation of this Regulation is a quite challenging task in the daily business of financial institutions, which collect and process numerous data of their clients for various purposes.
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