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#Indian fintech companies will never be #GDPR compliant

GDPR, the European law du jour created to vindicate EU tech, has been active since May 25th.

On the surface, it appears to be an “innocent” law attempting to safeguard the privacy rights of European Union members; what monsters lurk below that surface remain to be seen.

Taking advantage of the situation, boutique companies of dubious background are popping up, mostly in Europe, to provide consultation services on the GDPR. In doing so, some register descriptive or long tail “GDPR domains,” to extend their search engine visibility.

It’s ironic that such extended search visibility is desired, while the GDPR itself proclaims to be in place in order to lessen the amount of information made available.

Photo by Ishant Mishra on Unsplash

The requirements of the GDPR will be impossible to enforce in India, and its fintech sector, that’s designed to store and retain personal information for a period of 15 years.

Major Indian banks such as the RBI would never be GDPR compliant, and that’s frustrating for India’s technocrats and financial institution managers.

GoDaddy maintains a million-strong customer base in India, and with that comes yet another flavor variant of how to manage personal information, to suit the local laws. It really is becoming a headache from a technical standpoint as well.

Read more information in an article titled, “Fintech companies in spot as RBI rules clash with GDPR.

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