In this digital age, loyalty rewards programs have become a powerful tool for Australian businesses to build customer relationships and foster brand loyalty. While these programs offer many benefits, they can also pose a risk for your businesses in relation to the management and safeguarding of personal data. With customers becoming increasingly concerned with their personal data privacy, there is an expectation that businesses operate ethically and securely.
Understanding the potential risks
Understanding the risks associated with handling personal data in accordance with your loyalty rewards program is essential for businesses. Mishandling of sensitive customer information puts your business at risk of potential legal, financial, and reputational consequences. With the sophistication of technology within the digital space, the threat of security breaches and cyber-attacks are an ongoing concern. Your customers are ultimately at the forefront of this risk as unauthorised access to this personal information results in major privacy violations for these individuals. Businesses must comply with data protection regulations such as the Australian Privacy Principles (APPs) to ensure they are handling personal data to the highest standard of safety.
Are your programs secure?
Assessing the integrity and strength of your data management and data security programs is essential for businesses operating with such high volumes of sensitive information. Robust programs should be in place and businesses should be able to accurately provide their customers with the information pertaining to their personal data. Due to the high volume of personal data that is collected within these loyalty rewards programs, organisations can often struggle to map where this personal data is. This lack of data accuracy and visibility significantly increases the risk of misuse and handling. Furthermore, with many businesses operating with third party vendors and service providers, they must prioritise the secure sharing of this personal information. These programs should allow your business to seamlessly operate while safeguarding the personal information it holds.
DataBench wants to help you
At DataBench, we want to help your business strengthen and prioritise your personal data protection and management for your customers. With our innovative loyalty rewards program solution, we can streamline your customer request process and accurately provide data mapping of both structured and unstructured data within your organisation. Our automated technology fulfils these requests quickly and keeps your business compliant with relevant data protection regulations. The DataBench platform keeps you informed and safeguards the personal data that your business holds. If you would like to learn more about our automated solutions contact us or book a demo here.