GDPR Compliance Tools: Best Practice from RegTech

Organisations can be complex entities, performing heterogeneous processing on large volumes of diverse personal data, potentially using outsourced partners or subsidiaries in distributed geographical locations and jurisdictions. Many organisations appoint a Data Protection Officer (DPO) to assist them with their demonstration compliance the GDPR Principle Accountability. The challenge for DPO is monitor these activities advise inform organisation regard A review software solutions shows that are being greatly challenged meeting obligations as set out under GDPR, despite myriad tools available them. continue take manual informal approach compliance. Our analysis significant gaps part ability demonstrate they lack interoperability features, not supported by published methodologies evidence support validity even utility. In contrast, RegTech has brought great success financial compliance, technological facilitate with, monitoring regulatory requirements. State Art identified four features system be, strong data governance, automation through technology, systems proactive framework. This paper outlines requirements based experience evaluate how could applied improve proof concept prototype tool was explored factors RegTech, which best practice regulator self-assessment checklist establish if improved. application provides opportunities demonstrable validated notwithstanding risk reductions cost savings deliver obligations.