Who protects my data?

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#MyDataAndI

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Who protects my data?

Have you ever asked yourself ... Who protects my data?

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Hey! I’m Marcus – an Avatar with an eye for detail.

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Let’s chat a bit about data protection and security at banks, shall we?

Please pick one:

Sure, what can you tell me?

No, thanks. I’d just like an overview of information.

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By 2020, 1.7 MB of data will be produced about us every second. That’s about as much information as fits on 850 printed A4 pages.

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But it’s pretty convenient to do things online: watch videos, order food, shop for clothes, book trips and handle accounting.

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Every time we do these things, we provide our bank data.

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What do you think? Who is responsible for protecting your bank data?

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Cool. Here are a few articles that may interest you:

surprised-emoji Me?

The government. We can’t only leave it to companies.

Silly question. Of course, anyone who accesses and uses my data.

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Nearly 90% of the people surveyed by Deutsche Bank see themselves as responsible for their data.

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You try to give out as little of their data as possible.

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And you protect your computer and smartphone.

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In many countries, it’s already possible to pay for things with your mobile phone. Bank customers are then obligated to rigorously protect their smartphone. Do you know how?

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65% of people asked by Deutsche Bank agree with you.

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Banks are, in fact, monitored and controlled particularly closely.

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They are legally obliged to protect customer data against unauthorised access.

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A new European data protection law has strengthened the rights of consumers and bank customers.

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That’s how 63% of people saw it in a recent Germany-wide online survey conducted by Deutsche Bank Research.

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In addition, Deutsche Bank asked some people what they thought. This is what they said:

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As of recently, banks must allow third parties access to account information if clients explicitly request and allow it.

Uh, yeah. I’ve been doing mobile banking for quite a long time.

I don’t do much on my phone. I’m afraid that I’m being spied upon.

skeptical-emoji I know, I know.

What do I get out of it?

And this is safe?!

emoji-with-monocle Does the bank only select partners who are reliable?

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Okay, I get it. But are you also interested in knowing how Deutsche Bank protects data?

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I can understand that.

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Other people are also worried about this.

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In fact, two-thirds of companies have fallen victim to hacking.

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Okay, then you will most likely know that banks are now required to grant fintechs and other companies access to your account data.

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As long as you have expressly given your consent for data to be shared for a specific purpose.

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Above all, transparency.

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As a consumer and client, you have more rights. For example, you are entitled to be informed about ...

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... who uses your data, which data is used, the purpose for which it is being used, whether it is being sold to others ...

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... or you can withdraw a previously granted authorisation.

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Banks have to fulfil the highest security standards.

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As a customer, you now have more offers to choose from.

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No, it’s not the banks that decide which apps get access to your data.

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Third-party providers are able to obtain licences from financial authorities and must present an electronic certificate to your bank.

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And if you, as a customer, want to share your bank details with third parties, your bank must enable this.

Yes, but please be concrete.

worried-emoji What can I do?

skeptical-emoji How safe are these new providers?

skeptical-emoji That’s exactly what I’ll do if they don’t use my data responsibly.

And if something goes wrong?

scared-emoji You’re opening the door to criminals who want my data.

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Alrighty. Check this out. It’s Carsten Fischer, Head of Information Security at Deutsche Bank.

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We (ourselves) are actually the weakest link.

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95% of all attacks on company networks are the result of a successful phishing attack.

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And a few extra characters in a password make a big difference.

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A professional hacker needs just 30 seconds to crack a seven-character password.

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But for a twelve-character password, they would need 200 years.

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They have to be certified by the financial authorities.

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Most customers trust fintechs a lot less than their bank.

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As customers, you decide individually which data you want to provide for what service.

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And you can withdraw your consent at any time.

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You’re in good company. Nearly 50% of people would do the same.

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Approximately just as many people surveyed by Deutsche Bank would continue to use the service and then just change their security settings.

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Your bank is still liable, unless you have really made a blunder.

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Such as not locking your phone and leaving it unsupervised on a conference table in a co-working space.

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As a customer, you have to find the right balance between wanting to disclose as little data as possible and profiting from the value and convenience of certains apps.

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¯\_(ツ)_/¯

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Well, you have to find the right balance between the use of new applications and data security.

And yet there are still hacking attacks.

I’m a bit relieved.

And what does Deutsche Bank do specifically to protect my data?

If I want to use mobile payments, I have to secure my smartphone more effectively, right?

I don’t really understand how this would work.

I want to keep control over my data.

Well, if I want to use apps, I have to disclose my data. I have no choice.

What’s the point of that if my bank account has already been plundered?

My data is valuable to me.

I want to get the benefits, but to still keep control over my data.

I would like to at least understand the data protection guidelines.

Whoever uses the Internet loses control over their data anyway.

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That’s true. Attacks can never be ruled out completely – even with the best security systems.

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Banks are making steady progress with bolstering up their IT systems and staying ahead of hackers. It’s in their own interest.

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FIREWALL EMOJI

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That’s good to hear.

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Or chat with Julian or Amy.

Chat with Julian if you want to know how you can profit from your data.

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Amy will tell you all about why your data is so valuable.

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A lot. Scroll down to learn more about data protection and security at Deutsche Bank.

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Or chat with Julian or Amy.

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Amy will tell you all about why your data is so valuable.

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Yes, but you’re already doing that by picking the right apps.

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You also need more than just a PIN to make a payment with your smartphone.

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You have to confirm your identity with either a photo TAN or fingerprint.

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Amy will tell you all about why your data is so valuable.

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Take a look at this short video, and maybe everything will be much clearer.

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There are apps that do just that. Kind of like a data cockpit where you’re the captain.

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Amy will tell you all about why your data is so valuable.

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sunglasses-emoji

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I don’t see things quite so grim.

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You can always decide yourself which services you open your data up to.

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And there are special apps that let you be especially frugal with your data.

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Amy will tell you all about why your data is so valuable.

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YOGA EMOJI

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That’s not going to happen.

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Your bank is liable even when you make a mistake or there is a third-party scam.

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Amy will tell you all about why your data is so valuable.

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You should chat with Julian or Amy.

Chat with Julian if you want to know how you can profit from your data.

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Amy will tell you all about why your data is so valuable.

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That is extremely important to many people. According to a recent study, 31% of users want their data to be deleted whenever they want.

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Noted. wink-emoji All joking aside, according to a recent study, 75% of users actually read these.

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Well, of course we’re quite not that powerless.

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Who protects your data

Regulating data: A moving target

Deutsche Bank’s Global Head of Regulatory Affairs Karin Dohm chats about the new data regulations facing banks and what they mean for clients.

To the interview

How should banks handle your data?

Clients have trusted banks with their data for generations. Have expectations changed in the era of big data? We asked around, and this is what we heard.

Video

Hackers, spammers and spies – oh, my!

We asked people what they’re most afraid of when using the Internet. See what they said.

Video

Facets of cybersecurity

Carsten Fischer, Head of Information Security Operations at Deutsche Bank, on the growing threat of attacks from the web and the role of cybersecurity.

Video

Control at a click

Many providers would like to have the data you entrust to Deutsche Bank. You decide who uses your data. Our film explains how it works.

Video

Watch out, an attack – fended off!

Cybercriminals are becoming ever more professional. With the Cyber Incident Response Center (CIRC), Deutsche Bank girds itself against worldwide attacks.

Start slideshow

Deutsche Bank asked its Instagram followers whether they would be interested in a kind of “data cockpit” that would give them more control over their data. Here is what we heard back.

A data protection app that showed me who is using my data would be great. Agree?

No 9%

Yes 91%

Using data, protecting data: who do you think can manage this?

We asked 1,000 people in Germany what data they entrust to whom, and what they expect in return. Here are their responses.

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New data players in Asia and the banking industry

Boon-Hiong Chan, Deutsche Bank’s Global Head of Market Advocacy, highlights some key issues around the regulation of new data players in China.

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Still there?

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Want to chat a bit more?

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Here are two friends who would like to talk to you about data-related topics.

Amy will tell you all about why your data is so valuable.

Chat with Amy

Chat with Julian if you want to know how you can profit from your data.

Chat with Julian

About #MyDataAndI

Data is the stuff that dreams are made of. On the basis of data-derived insights, big platform businesses and small start-ups alike seek to make individualised offers to potential customers. Many people are just now beginning to understand the value of their data. They want to maintain control over them and want to know what is being done with their data, by whom and why.

On this website, the avatars Amy, Julian and Marcus invite you to chat with them – about what your data is worth in the “data economy”, about the ways you can profit even from your bank data, and about data protection and data security standards. The three fictional characters assume the perspectives of our diverse customers and pose questions that we all have. Openly, curiously and critically. Talk with them!

Sources:
The information and figures in the chats with Amy, Julian and Marcus and in the slideshows were taken from various external studies and surveys from Deutsche Bank Research. Here is an overview:
  - Deutsche Bank: GBMR Ad hoc Befragungen – Der Umgang mit Daten und Datensicherheit, 2018
  - Domo: Data never sleeps 6.0, 2018
  - MEF (Mobile Ecosystem Forum): Global Consumer Trust Report, 2017
  - SANS Institute: Threat Landscape Survey, 2017, quoted in EHI Retail Technology, 2018 (www.retailtechnology.de)
  - SVRV (Sachverständigenrat für Verbraucherfragen) REPORT June 2017: Der Wert persönlicher Daten – Ist Datenhandel der bessere Datenschutz?

Image credits:
- Characters: Caitlin VanderKlok
- Chats Amy, Julian and Marcus: GIFs: © Caitlin VanderKlok (6); Footage: © Adobe Stock [M] (1), Motion Elements [M] (4), Shutterstock [M] (3); GIF Editor: Anne Grobler
- Slideshow: Is data really the new oil?
Slides 2,7,10,11,16 © iStock [M] | Slides 3,5,6,12,14,15 © Adobe Stock, iStock, Shutterstock
- Slideshow: Five examples of how your data can work for you
Slides 4,9,15 © iStock [M] | Slides 2,3,6,8,10,12,13 © iStock | Slide 15: © Shutterstock
- Slideshow: Using data, protecting data: who do you think can manage this?
Slide 3: © iStock [M] | Slides 8,10 © Shutterstock [M] | Slide 12: © Adobe Stock| Slides 5,7,9,13 © iStock