INTRODUCTION:  In today’s intricate market dynamics and escalating regulatory compliance, financial institutions are experiencing an unprecedented demand for reliable and accurate data. This escalating emphasis on data reliability has brought the discipline of data governance to the forefront, shaping the way data is managed, safeguarded, and utilized within these institutions.  Data governance is an instrument for determining who within an organization is responsible for overseeing data assets and establishing a mechanism for their lawful utilization. In the complicated world of fin ..read more

Introduction  The Data Governance Act is a fundamental component of the European Strategical Plan for Data. It officially became effective on 23rd June, 2022 and was adapted on 24th September, 2023. This Act aims to enhance the utilization of data within the European Union through by enabling the re-use of the secured data held by the public sector agencies. It underscores the possibility for innovation and technological growth through access to data. It emphasizes the importance establishing robust guidelines and protection for sharing and re-use of data.  Purpose Of the Data Govern ..read more

INTRODUCTION  Saudi Arabia PDPL issued its pilot national data protection legislation to regulate collection, storage and processing of personal data. The law would be accelerating Saudi Arabia’s efforts to digitize its economy while creating a data bank in the society. This is the new Personal Data Protection Law (PDPL) which was implemented on the 14th of the September in 2021. The SDAIA (Saudi Data & Artificial Intelligence Authority) was taking care of the implementation of the new law for the first two years from the introduction after which the transfer was taken over by the NDM ..read more

INTRODUCTION  Saudi Arabia PDPA issued its pilot national data protection legislation to regulate collection, storage and processing of personal data. The law would be accelerating Saudi Arabia’s efforts to digitize its economy while creating a data bank in the society. This is the new Personal Data Protection Law (PDPL) which was implemented on the 14th of the September in 2021. The SDAIA (Saudi Data & Artificial Intelligence Authority) was taking care of the implementation of the new law for the first two years from the introduction after which the transfer was taken over by the NDM ..read more

INTRODUCTION: On 7 April 2024, House Committee on Energy and Commerce Chair Cathy McMorris Rodgers, R-Wash., and Senate Committee on Commerce, Science and Transportation Chair Maria Cantwell, D-Wash. unveiled a discussion draft of the American Privacy Rights Act (APRA). This bipartisan and bicameral draft law aims to set up a national standard for data privacy. The announcement signals a renewed effort to pass a federal data privacy law, which has been delayed for a long time. The draft legislation is aimed at addressing the evolving challenges and concerns relating to data privacy in the digi ..read more

INTRODUCTION:  GRC (for governance, risk, and compliance) is an organizational strategy for managing governance, risk management, and compliance with industry and government regulations. GRC forms the cornerstone of corporate integrity and operational efficiency, ensuring that organizations meet regulatory standards while effectively managing risks. So,GRC encompasses a broad and interconnected set of tasks aimed at overseeing regulatory obligations.   As businesses are moving their operations to digital platforms, such as the cloud, new regulatory policies for lowering risks ar ..read more

Introduction A majority of the organizations across the globe use the cloud platforms for various purposes. A large portion of cloud adoption has been arising various data governance challenges. Moreover, companies have struggled to maintain a visible stand over the sprawling cloud data bases. Varonis, a data security service provider released a report revealing organizations across the globe which find it difficult to govern such large amounts of data and shadow privileges which go unsupervised across the fragmented SaaS and IaaS environments. It found that a concerning 43% of the cloud ..read more

INTRODUCTION:  The phrase “data is the new oil” is attributed to British mathematician Clive Humby, who purportedly coined it in 2006. Large corporations including social media giants gather data from consumers and leverage it to make inform internal decision aimed at making strategic decision and enhancing sales performance. This escalating emphasis on data reliability has brought the discipline of data governance to the forefront, shaping the way data is managed, safeguarded, and utilized within these institutions.  Data governance is an instrument for determining who within an org ..read more

Today, technology continues to evolve, with companies all over the globe required to adapt to the constant evolution. It is necessary to meet the challenges brought about by digital transformations. This calls for Governance, Risk, and Compliance (GRC) measures. GRC  is a framework to align Information Technology with business standards and goals while managing risks and meeting necessary industry and government compliances. The GRC framework provides specific tools and procedures to bring together an organization’s governance and management of risk alongside its technological advancement ..read more

INTRODUCTION:  Data governance is an instrument for determining who within an organization is responsible for overseeing data assets and establishing a mechanism for their lawful utilization. In the complicated world of finance, having a well-defined and systematic rule of data handling is vital. It is crucial for efficient regulatory compliance and managing risks effectively within set timelines. It plays a pivotal role in maintaining the accuracy, consistency, and reliability of financial data, placing special emphasis on ensuring data integrity in risk management and timely reporting ..read more