In adopting a “data-first” mindset, the Aboitiz Group has integrated data science across the development stages of business strategies, from ideation to production. This means data is becoming more democratized and, therefore, making the practice of responsible control over sensitive resources securely at the center of every process.
Initiatives involving data across Aboitiz are, in the spirit of #OneAboitiz, a seamless exchange of business insights while fully adhering to pertinent regulatory requirements. Beyond compliance to the Data Privacy Act and other relevant data protection laws, the company ensures the responsible democratization and governance of data, especially customer data, by embedding sound data governance measures in handling consumers’ personal information for all data science solutions projects and initiatives.
Signing of data sharing agreements not only facilitates the accountable collection, use, processing, and disclosure of personal information, but also enables free-flowing of data among teams and functional groups across the organization.
True to our value of Responsibility, we emphasize on the importance of following rules in the way we collect, use, process, share, and dispose of personal data. That is why every sharing and disclosure of personal data within the Aboitiz Group follows a signed and agreed data sharing arrangement spelling out the details of the responsibilities in handling personal data in the pursuit of our goal to create long term value for our stakeholders.
– Atty. Cyril Arnesto, Associate General Counsel – Compliance, AEV
UnionBank understands that data sharing agreements informs its decisions and allows it to provide better customer service as these provide a framework on the data use, and clearly outline the key process involved. This is why in UnionBank, a data sharing agreement was executed between various counterparts within the banking group in order to establish a multi-tiered arrangement covering shared services for data science solutions and acceptable business initiatives in compliance with privacy and banking laws and regulations.
Ethical and responsible management of customer data cannot exist without informing data subjects in a concise and easily accessible way of how their data is held and used. Data sharing enables alternative credit scoring and financial inclusion of the ‘unbanked’.
– Maria Francesca Montes, Data Protection Officer, UnionBank
The hyperpersonalized digital universe produces an offering of new financial solutions and services, which has also pushed corporations to collaborate with one another in order to more effectively leverage data’s full potential and offer customers greater customization and better products and services. This is the driver for data sharing; but for the Aboitiz Group, we call it responsible and ethical data sharing by maintaining transparency, establishing accountability, and ensuring customer privacy and due diligence through enforceable contracts.
As the Aboitiz Group’s digital transformation continues, there is an increasing need to share knowledge on the evolving landscape of data management, the essential elements of appropriate data governance, and how consumers can better manage their data—all aimed at making consumer data protection more robust. This groupwide collaboration and exchange of business insights leads to new opportunities between business leaders, reduced inefficiencies, and increased bottom lines.
