Mortgage Brain says its range of mortgage technology solutions will fully adhere to the new rules and data regulations set out by the GDPR.
In preparation for the May 2018 deadline, Mortgage Brain has held a number of consultations with its customers to discuss and agree the requirements of GDPR and to ensure that all users of its systems will be able to meet their GDPR obligations.
The firm also completed a review of its systems and commissioned an independent external review with full legal advice and support to ensure its systems are as robust as they can be to help support advisers post GDPR.
While its systems already meet many of the new GDPR requirements, a number of new software and system enhancements are also underway – which will be ready and in place well ahead of the 25 May deadline.
GDPR (the EU General Data Protection Regulation) expands on the existing UK Data Protection Act and will affect everyone involved in collecting and processing information and data about individuals in the context of selling goods and services.
GDPR introduces a new level of accountability that requires any organisation that handles other individual’s personal data to show how they comply with the principles.
Mark Lofthouse, CEO of Mortgage Brain, said: “GDPR is on its way and it’s going to affect everyone. It’s imperative that advisers have a full and clear understanding of the new rules and regulations and are well aware of their responsibilities and what support they should expect from their system providers.
“The consultations we held with our customers were an important part of this process and have proved extremely valuable in ensuring all parties know what needs to be done and who is responsible for what.
“Whilst we might not be directly responsible for the personal data that advisers’ hold on their systems, we do have a responsibility to all the users of our systems to make sure that they can satisfy their GDPR responsibilities.
“It’s a responsibility we take seriously and, as we have in the past, we’re going the extra mile to ensure all of our systems – for the benefit of advisers – are fully GDPR compliant, well in advance of the deadline next year.”