Data Protection for
Banks & FinTech

15+ years

of legal practice


in data protection

Award winning

legal practice in Germany


clients in over 35 countries

The banking and financial services sector is a highly regulated industry that has been in the public interest since the latest crisis in 2007. Due to banking secrecy, data protection has always played an important role in this industry. Digitalization of processes now requires a more differentiated analysis of existing data. The extraction of new data as one of the most valuable raw materials for the future.

Service providers working with the banking and financial services sector must take into account specific provisions that stipulate many legal obligations. In addition, due to the sensitive nature of the data processed in this sector, special care must be taken to ensure the security and confidentiality of this data.

Our data protection services for you:

Data Protection for Banks and Financial Services

3 steps to legal consultation

Simply fill out this form and one of our team will contact you to organise a free of charge, no obligation call.

Banks and financial institutions must take data protection measures

Data Protection is a fundamental principle in the banking and financial services sector. In order to protect the personal data of customers and employees, banks and financial institutions need to implement adequate technical and organizational measures. These measures must ensure a level of security appropriate to the risk involved in processing the data.

In addition, banks and financial institutions must take into account the principles of data minimization and data accuracy when processing personal data. They should only process the data that is necessary for the purposes for which it is being processed. The data must also be accurate and up to date.

The GDPR imposes new requirements on banks and credit institutions. For example, they need to have contracts in place that reflect data processing on behalf of the controller, as well as the conflict between data protection and compliance.

Additionally, banks have an obligation to report data breaches and protect customers’ data from possible money laundering and other criminal activities.

Finally, banks and financial institutions must ensure that personal data is only processed in accordance with the consent of the data subject. Data subjects have the right to withdraw their consent at any time.

Group Data Protection Officer

Do you need an External Data Protection Officer?

Five steps to full service compliance:

Introduction of your company and KINAST as well as the relevant contact persons. Discussion of the current data protection setup and most important data protection topics.

We conduct data protection audit on-site or based on questionnaires to evaluate the current data protection status of your company.

Document the current data protection status and define further required actions if necessary.

We carry out all necessary measures identified during the data protection audit.

Designation as External data protection officer and on-going consultation starting from day 1.

Are you sharing personal, financial data with third parties?

When it comes to sharing data with third-party partners, banks and financial service providers need to be careful about who they share information with and what kind of data is shared. Third-party recipients need to be authorized to receive teh data and the bank must takes the steps to ensure there are appropriate security measures in place. When sharing data accross international borders, especially outside of the EU, there are a many GDPR rules to concider, including International Data Flow, Transfer Impact Assessments, Standard Contractual Clauses and much more.

Our service to you

How our legal experts help clients in the banking and financial services branch

Top 5 Law Firm in Germany

We offer consulting services to banks and other financial service providers on all aspects of data protection, including the handling of customer and employee data, credit decision processes, cross-border data traffic, and new technologies like cloud computing and mobile banking. We also provide advice prior to certification in accordance with the Payment Card Industry Data Security Standard (PCI-DSS).

Just a few of our experts specialsing in data protection for Banks & FinTech

Are you in the banking or financial services sector and need a data protection solution?

Whatever your data protection questions, worries or concerns, if you’re in the banking sector or provide financial services we have all the answers you’re looking for… and possibly more. Please feel free to contact our team of professional lawyers and data protection experts for a personalised, future proof solution to your financial institute’s data protection needs.

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Find out more about our individual services

Data Protection

Our Lawyers act as External Data Protection Officers (DPO) for small and medium-sized companies, associations, institutions and international corporations.

Data Protection

Working alonside a DPO, our Data Protection Managers help to implement data protection guidelines and ensures orderly and up to date documentation of your GDPR compliance.

Data Protection

Regular data protection audits ensure that your business continues to process and store personal data in a manner that’s compliant with ever changing data protection laws.

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