Written by: Thais Cipollari – Source: https://www.segs.com.br/
Event: Concern with security in the transfer of personal data and the sensitive management of information to build the individualized customer experience were highlighted in the Score Summit 2021
Privacy is the foundation of freedom. We need to own our data and have the power to decide where it goes, safely. The reflection was made this Tuesday morning (24), by Don Tapscott, one of the most influential writers in the world, author of 13 books (translated into more than 25 languages), researcher, speaker, consultant specialized in corporate strategy and “ father” of the Blockchain, during the first day of Score Summit 2021, an event organized by proScore, with B3 as co-host.
The first part of the event was marked by the discussion on the importance of the security of personal information for the success of the Open platforms, considering the increase in competitiveness between companies, the greater coverage and scope of services, the adaptation of products to the individual reality of customers and the increased role of consumers in the decisions taken in their respective financial projects.
“We need to own our data and manage it on our own. Decide where they go. Our data represents us and is the basis of the autonomous individual, who needs to choose what he wants and how he wants his products and services. This is an issue as important as the climate in Brazil. We are rethinking our social contracts based on the way we protect and share our data”, added Tapscott.
For Brazil, the head of the Central Bank's Financial System Regulation Department, João André Pereira, ensured, during the event, that the exchange of user information between financial institutions, proposed by Open Banking, will also have security guaranteed by the Government Federal. "The scope of Open Banking participants are institutions regulated by the Central Bank, they are within the regulatory perimeter, with all the rigor of risk management, respect for the cyber security policy and all the monitoring that the Central Bank does with these participants", explained.
The experts invited by Score Summit 2021 discussed the country's regulatory environment and the importance of security in the transfer and collection of data for the success of Open Banking and Open Insurance systems, whether considering the health of the business environment or guaranteeing benefits to users.
“In the field of Open Insurance there is a sea of possibilities in what we are discussing today, but a serious regulatory review is needed so that we can offer more and more services. Open Insurance and data exchange unaccompanied by regulatory change will certainly not achieve the goals we intend, including creating access to services that are essential. Everything needs to be done very sparingly and always, because we are in two markets that suffer a lot from fraud”, added Ricardo Ramires, Director of Medical Operations for Regulatory Markets at SAMI.
The market's concern with personal data is latent due to one of the main differentials of the Open segment, which is the possibility of customization. According to the analysts invited to the Score Summit, the exchange of information between institutions is what will ensure that the services and products offered by companies can be closer to individual demands, even allowing customers to combine instruments within a package totally original.
“It is important to note that even the relationship between banks and fintechs is changing, because the partnership is fundamental, thinking precisely about this information dialogue. The more we can come together, work together, to deliver a good product, the smarter we are going to be as a whole. We think about the union”, commented Carolina Gladyer Rabelo Saches, ESG, Legal and Institutional director of ABBC – Brazilian Association of Banks
customization
On the second day of Score Summit, this Wednesday (25), the highlight was human intelligence and sensitivity to the management of personal data as a key to increasing business competitiveness. Knowing how to read, organize and use customer information to build highly customizable products and services, without ignoring the multiplicity of realities, points of view and behaviors is what will take new and old ventures to the next level in markets that have returned to prioritize the closest and most personalized relationship.
Panelists underlined the trends that point to greater capillarity of companies, now exploring the customization of offers to expand their operating spaces and reach other opportunities for contracts and sales. All from the accumulated and ordered knowledge of people who in some cases didn't even know the brands.
“Managing a company today means understanding how people work and not just the business. We need to transform a database into a fact bank. People seek the individualization of what they consume, they want products and services that match their personality, their desires. It's what they expect to share their data. Big data is the engine of all this, but the human relationship is what will make the difference for this type of contact. Technology is just a commodity”, commented Walter Longo, managing partner of Unimark Comunicação.
Ease, simplicity, flexibility and individualization are the new relationship instruments that organizations need to assimilate Technology has changed the expectations of customers, who now expect more customization, less bureaucracy and more intelligence in the consumption of products and services. This change in behavior was due to data sharing.
“The digitization process has already taken place, and companies that have not done it need to accelerate this stage, including companies that can bridge the gap with this new moment. Now, it's about leveraging data with a focus on being able to deliver the best customer experience. Thus, it is possible to think about leveraging the business, but always, of course, attentive to the financial results and always analyzing the context. I think the main turning point, by the way, is to understand context analysis. Analyzing the individual's context, knowing what he or she wants”, commented Marcelo Queiroz, Head of Market Strategy at ClearSale.
About Score Summit
The Score Summit 2021 brought together more than 20 renowned experts (see the full list) from the financial and technology areas to discuss digital onboarding, anti-fraud, open banking and open finance, data portability and sectorial scoring such as agro, marketing and utilities. The event had two panel schedules, on the 24th and 25th of August, and was broadcast for free by the official proScore channel on Youtube.
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