Globe myBusiness, the micro, small, and medium enterprise arm of Globe Telecom, recently held a session of the Data Privacy Awareness workshop in Davao to help entrepreneurs and business leaders in the Southern Mindanao region to improve their data security.
The workshop was held at Blue Lotus Hotel in Davao, with attendees coming from key financial SMEs and other sectors. Carlos “Titus” Manuel, Founding Chairman of the NADPOP, facilitated the half-day intensive training with discussions on the Data Privacy Act of 2012 and what SMEs should do to comply.
The Data Privacy Act of 2012 institutionalized the guidelines for protecting sensitive customer information in the country and has set substantial monetary and reputational penalties for violation. This regulation has a significant impact on the financial SME industry in particular, as they handle sensitive customer and transaction information. Despite a high-level awareness of this regulation, the majority of SMEs remain ill-equipped to comply due to a lack of resources and proper application of digital technologies in core operations such as data gathering and storage.
“The challenge of implementing the guidelines of the Data Privacy Act remains to be a key concern, especially for finance SMEs,” shared Jaya Aberin, Finance Industry Manager at Globe myBusiness. “There are a myriad of technology solutions specifically for data security in the industry today, but most business leaders and decision-makers find their use too sophisticated, complex, and expensive.”
Thus, Aberin said that Globe myBusiness could aid MSMEs by guiding them through every stage of their business journey. With products and solutions from the world’s best digital creators tailor-fit to each MSME, Globe myBusiness makes it a point to find the right solution to address their particular needs. Further, she reiterated that Globe myBusiness aims to be recognized as the MSME’s true business partner by keeping them updated on the latest market news and knowledge needed for their business, such as data privacy.
At the end of the workshop, attendees applied the knowledge they gained in an online assessment that they needed to pass to receive their certificates of completion. These certificates can be presented to the National Privacy Commission in case of an audit.
To know more about Globe myBusiness Data Privacy Workshops and data privacy solutions, visit Globe myBusiness financial services.