Case Study
A Global Top 50 Bank sought to identify its obligations under the Genderal Data Protection Regulation (GDPR) within one of its business units.
Our Customer at a Glance
- $20B Annual Revenue
- 30,000 Employees
- 1,000+ Locations Worldwide
- 300+ Regulating Bodies to Comply With
The Problem
Our customer faced the following hurdles:
- Needed help determining which parts of GDPR were required for the business.
- Initially hired a consulting firm to produce its GDPR requirements, but the firm missed a number of obligations.
- Forced to hire a second consulting firm to correct initial mistakes, creating duplicative costs.
- Ultimately dissatisfied with the rigamarole of multiple consultancies, missed obligations, and ongoing regulatory uncertainty.
Partnering with Ascent
Frustrated with their journey so far, the Bank partnered with Ascent, an AI-powered compliance automation solution. Ascent generates the obligations that apply to the customer, helping banks and other financial firms reduce risk and gain confidence in their compliance programs.
Using Ascent, the Bank was able to comprehensively identify its GDPR obligations at a fraction of the time and effort, kickstarting its path to compliance and better positioning the Bank to protect the privacy of its customers.
How the Global Bank Accelerated GDPR Compliance with Ascent
Before Ascent:
- Hundreds of thousands of dollars in ongoing consulting fees
- Countless hours and headaches, only to produce an incomplete register of GDPR obligations
- Increased regulatory risk and error
After Ascent:
- A mere fraction of the cost (99% savings)
- Took just minutes to produce a complete and verified register of GDPR obligations
- Thorough and easy-to-read digital format, produced with significantly lower risk of human error
We’re here to make compliance easier.
The road to compliance can be confusing and complex. Ascent makes it simpler with an AI-driven solution that generates the obligations that are relevant to your business. Ascent allows you to:
- Reduce the risk-prone and costly impact of human error and missed obligations
- Review a much narrower set of obligations, fast-tracking the tedious and manual process of regulatory research and analysis
- Save a significant amount of time and money while reducing your regulatory and reputational risk
Modern challenges require modern tools. Interested in seeing how Ascent can help you stay ahead of regulations like GDPR?
