This certification demonstrates our commitment to the stringest data security compliance requirements of our retail banking customers.
San Diego, CA (PRWEB) November 09, 2016
Kiran Analytics – the leader in intelligent branch transformation for retail banks, announced today that it has completed the EU-US Privacy Shield Certification by the US Department of Commerce. This certification establishes the firm’s legal compliance with the latest EU data protection requirements and replaces the Safe Harbor Agreement, with which Kiran Analytics was already compliant.
The Privacy Shield was launched on July 12 as a new framework to better protect the transfers of personal data of EU citizens between Europe and US. It is also a significant milestone for the legal certainty of transatlantic businesses and trust in the digital economy.
"Our organization is committed to compliance with the Privacy Shield standards and principles," said Jim DeLapa, the CEO of Kiran Analytics. He added, "Our retail banking clients rely on our business processes and procedures to keep their data and their customers’ data compliant in the face of rapidly changing data protection and security standards. Kiran’s self-certification shows our commitment to the stringent data security compliance requirements of our retail banking customers.”
The redesigned Privacy Shield framework includes more robust and enforceable controls that require participating companies to provide transparency on their collection, use, and processing of personal data. It also requires strong US government oversight, and mandates increased cooperation with EU Data Protection Authorities (DPAs). US-based companies can now effectively comply with the European Union's data protection requirements which assures legal certainty for certified organizations and provides an adequate level of protection for EU citizens' personal data.
DeLapa added, “We are pleased to lead the way in the predictive analytics market as the first in our space to achieve certification in the EU-US Privacy Shield program. Given our growth in the US and internationally, the certification will help our customers rest easy where privacy is a priority and top concern.”
Kiran Analytics drives intelligent branch transformation for retail banks through the application of predictive analytics. Kiran’s solutions have been deployed in over 15,000 branches helping to forecast optimal branch staff levels accurately, hire better people faster, and to plan and schedule resources efficiently. As a result, retail banks increase sales and customer service while reducing operational costs. Kiran Analytics is a member of Bank Administration Institute (BAI), Consumer Bankers Association (CBA), and British Bankers Association (BBA). Kiran Analytics Inc. headquarters is based in San Diego, California and Kiran Analytics Ltd. is based in London.