Financial institutions face overlapping regulatory frameworks including GLBA, PCI-DSS, GDPR, CCPA, and sector-specific requirements. IQWorks unifies data protection across banking systems, trading platforms, and customer channels to simplify multi-regulation compliance.
$100K
12
72h
30+
72 hours
GDPR breach notification deadline to supervisory authority under Article 33
Source: GDPR Art. 33(1)
The Challenge
Banks, credit unions, investment firms, and fintech companies operate under some of the most complex regulatory environments in any industry. Customer financial data flows through core banking systems, payment processing platforms, CRM tools, mobile banking apps, and third-party fintech integrations. A single customer relationship may generate data across dozens of systems.
Financial institutions must simultaneously comply with GLBA privacy requirements, PCI-DSS for payment card data, SOX for financial reporting, and international regulations like GDPR for European customers. Regulators increasingly expect institutions to demonstrate real-time awareness of where customer data resides and how it is protected.
The rapid adoption of open banking APIs, digital lending platforms, and AI-driven risk models has introduced new data flows that are difficult to track and govern. Merger and acquisition activity further complicates data landscapes as institutions inherit legacy systems with unknown data inventories.
Overlapping Regulatory Frameworks
Financial institutions must comply with GLBA, PCI-DSS, SOX, GDPR, CCPA, and sector-specific requirements simultaneously. Each regulation has different scope, definitions, and timelines, creating a complex compliance matrix.
Legacy Core Banking System Complexity
Many banks still run on mainframe-based core banking systems that are difficult to scan and inventory. Customer data is often stored in proprietary formats across decades-old database schemas.
Open Banking and API Data Flows
Open banking APIs share customer financial data with authorized third parties. Tracking where data goes after it leaves the institution and ensuring third-party compliance is a major governance challenge.
PCI-DSS Cardholder Data Scope
Payment card data can proliferate into unexpected systems through log files, email threads, and support tickets. Uncontrolled PCI scope expansion increases compliance costs and breach risk.
M&A Data Integration Risks
Mergers and acquisitions bring unknown data inventories, undocumented data flows, and potentially non-compliant systems that must be assessed and integrated under tight regulatory timelines.
The Solution
IQWorks delivers a unified data protection platform purpose-built for the complexity of financial services. DiscoverIQ connects to core banking systems, payment platforms, data warehouses, and cloud applications to create a comprehensive inventory of all customer financial data, including cardholder data subject to PCI-DSS.
ClassifyIQ applies financial-sector classification taxonomies that tag data according to GLBA non-public personal information categories, PCI-DSS cardholder data elements, and GDPR personal data definitions simultaneously. This multi-regulation classification enables ProtectIQ to apply the appropriate protection controls for each regulatory requirement automatically.
ComplyIQ maintains a multi-regulation compliance dashboard that maps data protection controls to specific requirements across GLBA, PCI-DSS, GDPR, CCPA, and other applicable regulations. SearchIQ automates customer data subject requests across all systems, while RetainIQ enforces financial record retention schedules required by SEC, FINRA, and banking regulators.
See how IQWorks protects Finance & Banking data
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Inventory All Financial Data Sources
IQWorks connects to core banking systems, payment processors, CRM platforms, data lakes, and fintech integrations to build a complete data source inventory.
Inventory All Financial Data Sources
IQWorks connects to core banking systems, payment processors, CRM platforms, data lakes, and fintech integrations to build a complete data source inventory.
Discover Customer Data Across Systems
DiscoverIQ scans every connected system to locate customer financial data, cardholder data, and NPI, including data in legacy mainframe environments.
Discover Customer Data Across Systems
DiscoverIQ scans every connected system to locate customer financial data, cardholder data, and NPI, including data in legacy mainframe environments.
Apply Multi-Regulation Classification
ClassifyIQ simultaneously classifies data against GLBA, PCI-DSS, GDPR, and CCPA taxonomies so each data element is tagged with all applicable regulatory requirements.
Apply Multi-Regulation Classification
ClassifyIQ simultaneously classifies data against GLBA, PCI-DSS, GDPR, and CCPA taxonomies so each data element is tagged with all applicable regulatory requirements.
Enforce Regulation-Specific Protection
ProtectIQ applies encryption, tokenization, or masking based on the regulatory classification. PCI cardholder data gets tokenized while GDPR personal data gets pseudonymized as required.
Enforce Regulation-Specific Protection
ProtectIQ applies encryption, tokenization, or masking based on the regulatory classification. PCI cardholder data gets tokenized while GDPR personal data gets pseudonymized as required.
Automate Compliance Reporting
ComplyIQ generates audit-ready evidence packages for each regulation, mapping data protection controls to specific requirements with automated gap analysis.
Automate Compliance Reporting
ComplyIQ generates audit-ready evidence packages for each regulation, mapping data protection controls to specific requirements with automated gap analysis.
Manage Retention and Disposal
RetainIQ enforces retention schedules for financial records, ensuring SEC and FINRA requirements are met while disposing of data that has passed its retention period.
Manage Retention and Disposal
RetainIQ enforces retention schedules for financial records, ensuring SEC and FINRA requirements are met while disposing of data that has passed its retention period.
Key Benefits
Key Takeaways
- Unify compliance across GLBA, PCI-DSS, GDPR, CCPA, and SOX in a single platform
- Reduce PCI-DSS scope by discovering and eliminating cardholder data from unauthorized systems
- Automate regulatory reporting for OCC, CFPB, and state banking regulators
- Fulfill customer data subject requests across all banking systems within regulatory timelines
- Discover sensitive financial data in legacy mainframe systems and proprietary databases
- Enforce financial record retention schedules with automated lifecycle management
- Reduce audit preparation time by 75% with continuous compliance evidence collection
Frequently Asked Questions
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