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- 📋 Table of Contents
Executive Summary
• Purpose of the report
• Strategic relevance of DPDPA for BFSI
• Key Insights and recommendations
Provide senior leaders with a concise understanding of the privacy risk landscape, the urgency of DPDPA compliance, and the opportunity to turn compliance into a competitive differentiator
Data Privacy in BFSI: Risks, Imperatives, and Evolution
• Changing privacy threat landscape in banking & financial services
• High-profile data breaches and reputational damage
• Consumer trust and market expectations
• Global trends influencing India’s regulatory stance
• High risk posture of Bank’s high volume sensitive data
Provide overview on criticality of privacy as serios issue in Indian BFSI, linking business risks with the regulatory push that led to the DPDPA
DPDPA in Focus: Timeline, Structure, and Key Elements
• Timeline from draft to enactment, with key milestones
• Applicability and coverage
• Core definitions (data fiduciary, data principal, consent, etc.)
• Rights of individuals and obligations of data fiduciaries
• Significant Data Fiduciaries and BFSI entities
• Data breach notification protocols
• Cross-border data transfer rules
• Role and authority of the Data Protection Board
Explain the DPDPA’s timeline, scope, and core principles from BFSI perspective
BFSI Products, Journeys, and Privacy Complexities
• Data flows in retail banking, lending, wealth management, insurance, and payments
• Integration challenges between legacy systems and digital platforms
• Omnichannel consent capture and reconciliation issues
• Real-time transaction processing vs. privacy constraints
• Fintech Partnership and Joint Compliance obligations
Insights into banking’s product structures, processes, and technology stacks add complexity to privacy compliance, and how to go about mapping compliance
Consent Management: Foundation for DPDPA Compliance
• Consent requirements under DPDPA
• Current state of consent handling in BFSI (including Fintech)
• Evolution of consent management platforms in India
• Role of consent managers (Account Aggregator, UPI parallels)
• Best practices for embedding consent in customer journeys
Provide deeper overview of consent in DPDPA compliance and BFSI’s readiness; and consent management platform
Challenges & Building Sustainable Compliance Frameworks
• Data mapping across fragmented systems
• Aligning privacy policies with product and process realities
• Third-party and Partner risk management
• Technology gaps and integration issues
• Governance models for ongoing compliance
• Privacy-by-design approaches for new product development
• Continuous monitoring, periodic audits, and automation in compliance tracking
Detail the practical challenges for BFSI entities in implementing DPDPA and how to create compliance system
The Digital Fifth Perspective & Strategic Recommendations
• Recommended maturity-based approach for different institutions
• Collaboration and implementation models with The Digital Fifth
Create awareness of the real-world limitations of current AI systems. Prepare leadership for risks and mitigation
