Data Residency has taken center stage with 137 countries out of 194 countries passing data protection and privacy laws. Interpreting the applicability of these cross-border and cross-regulatory laws is a complex job that financial services firms have to handle with dexterity. This paper outlines what data residency is, the contours of data residency covering storage, access, security, and privacy; and the risks posed to the financial services firms and actions needed to meet these guidelines.
Decision makers from the banking and financial services (BFS) industry can utilize this whitepaper to understand a technology-agnostic and practitioner’s view.
