During the National Privacy Commission’s Privacy Awareness Week (PAW) Awards 2022, Home Credit Philippines (HCPH), the country’s biggest global consumer finance provider, won the Privacy Management Program Award for Non-bank Financial Sector.
Atty. Reiyl Siang, HCPH’s Data Protection Officer and a finalist for Data Protection Officer of the Year is in charge of this project to continue building trust and protection among customers and other stakeholders. During the first day of NPC’s PAW celebration, he was also a panelist who talked about how important it is for online lending to be honest in order to build trust.
HCPH is known for continuously upgrading and refining its data protection processes to ensure that data subjects’ personal information (workers, customers, and vendors) is protected and safeguarded in compliance with the Data Privacy Act.
Security that is proactive rather than reactive
HCPH produced a Privacy Manual for all external partners who process HCPH data, notably Personal Data, to ensure that its data protection rules are upheld. Only partnering with organizations that process personal data with security controls that are at least on par with company policies or policies of the group of companies to which HCPH belongs is part of the policy outlined in the handbook. This management approach aids HCPH in incorporating data protection rules with partners in order to prevent data breaches and increase data security.
HCPH privacy management is designed to be proactive rather than reactive when it comes to data protection, predicting future security concerns and hazards. With its manual in place, HCPH conducts compliance testing on data privacy issues faced by business units on a regular basis to validate risk ratings and security controls, keeping HCPH safe and secure through proactive security measures that complement its security management processes in the event of an incident.
Internal and external security
HCPH is constantly improving its internal Privacy Management Governance Framework, which strikes a balance between an individual’s right to privacy and business goals. This Framework serves as a model or map for HCPH in recognizing the interconnected links, factors, and other influences on the business, particularly in terms of data protection. It directs HCPH in the appropriate direction in terms of management and regulatory compliance in order for the company to meet its business goals of having efficient processes, accountability, and customer trust.
“At Home Credit, data security is a top priority. We ensure that our customers, partners, and internal stakeholders can rely on us to respect their privacy rights and lawfully process their personal information. “Developing a company-initiated security architecture that meets or even surpasses our duties under the Data Privacy Act of 2012 is critical to us,” says HCPH Data Protection Officer Atty. Reiyl Siang.
“We continue to establish trust among all stakeholders to continue doing business with us as we continue to bring financial inclusion to unbanked and underserved Filipinos across all walks of life,” said Atty. Siang.
