Trunomi, a FinTech company based in London and Silicon Valley, has developed software that can help financial services firms meet the requirements of the General Data Protection Regulation (GDPR). Their product is based on a deep understanding of GDPR, backed up by a sophisticated technical knowledge. But they also needed to make sure their solution could deal with the particular complexity and practical challenges facing retail banks. Trunomi asked us to advise them on the best approach.
Our team used their extensive experience of working with banks of different sizes and maturities to create a series of tests for Trunomi’s technical team. We explored these during workshops where we challenged them to think through how their solution would fit in with the typical technology and business processes found in retail banks. The team also worked on a hypothetical bid proposal to work out the best way for Trunomi to set out how their approach would meet a potential client’s needs. From this work, we developed fifteen specific recommendations for improvements to the software to improve its appeal to retail banks.
The work gave Trunomi the insight they needed to focus the next steps in their market and product development, as well as refine their software. Their development team now have clear priorities and are confident they understand the particular needs of retail banks and the strengths of their solution. That means they’re well placed in the market to provide the effective solutions to the GDPR challenge the financial services sector needs.
"The PA team really understood the requirements of the General Data Protection Regulation (GDPR) as well as the complexities of the European Banking landscape. This meant they were able to conduct a thorough review, at pace. We are now able to better position our product in the market as a result of working with PA and are safe in the knowledge that our product offerings and technologies are both suited to the need and delivered in accordance with market expectations and best practices."
Stuart Lacey, CEO and founder