Bank Privacy

Banks are subject to various specific data protection regulations. In addition to general privacy protection regulations, banks are also subject to bank secrecy laws. This secrecy is a legally established professional requirement. This secrecy requirement applies not only to the employees and units of the bank, but also to bank officers and liquidators, investigators and bank rehabilitation officers of the Banking Commission, as well as the staff and units of recognised auditing firms.

Bank-client confidentiality protects all facts, valuations and other data relating to the customer. Therefore, it covers much more than the client's financial situation. Rather, bank secrecy laws also protect personally-identifiable assessments made for custom-tailored marketing campaigns or for personal recruiting of bank customers. The use of bank customer data thus requires special care for these and many other reasons.

We advise banks on the following aspects of data protection:

  • CRM architecture
  • Data warehouse system landscapes with banks
  • Privacy-compliant transfer and integration of data from operational systems into analytic databases (such as data warehouses, data marts) and hybrid systems (such as operational data stores)
  • Privacy-compliant operation of customer contact centres, customer interaction centres and call centres
  • Evaluation of bank client data with data mining and OLAP tools and other statistical programs
  • Privacy-compliant use of personal evaluation results
  • Customer loyalty and incentive programs
  • Database marketing
  • Cross-selling and up-selling
  • Data enrichment
  • Privacy-compliant use of personal data within the bank/affiliated companies
  • Outsourcing of data processing to bank-owned service companies 
  • Outsourcing  of data processing to external companies
  • Cross-border data transfer, overseas outsourcing
  • Legally valid consent concepts in terms and conditions
  • Privacy regulations, directives, contracts
  • Data protection compliant organisation
  • Credit checks with data mining algorithms
  • Fraud detection with data mining algorithms
  • Data protection in mergers and acquisitions

Schweizer Privacy Law
Hagenholzstrasse 81a
CH-8050 Zürich
Telefon: +41 (0)76 457 70 90