Skip to Content

3 keys to privacy by design – insights for Data Privacy Day

January 30, 2023 l  By Katie La Zelle
 
As technologies emerge and evolve, organizations and individuals face new challenges in maintaining data privacy throughout their daily online interactions.
 
Here at Mastercard, we believe that data privacy doesn’t just happen. It requires intention and focus. That is one reason why we observe Data Privacy Day on January 28. Data Privacy Day is an opportunity to expand awareness on how to safeguard data and privacy, which is critical to bolstering trust among consumers.
 
During the World Bank’s Data Privacy Day 2023 event, Mastercard’s Chief Privacy Officer Caroline Louveaux shared her insights about how we navigate the complex and constantly evolving challenges that come with fast-paced regulatory and technology changes. As Louveaux explains, Mastercard’s strategy centers on a culture of Privacy by Design that we promote across the organization.
 
In practice, it means making privacy a part of everything Mastercard does, so that data privacy safeguards are built into every transaction, every solution, and every decision we make as an organization. As Louveaux explains, three key elements help us shape this culture: people, partnerships, and technology.
 
Putting people at the center of everything we do
At its core, privacy is about people. Keeping our end-users front of mind guides our strategic decisions around data protection. We also rely on people to make good on this commitment. Talent is the most vital asset available to any organization, particularly when it comes to driving innovation around a critical issue like data privacy.  With the right people in place, we can push innovation and develop fast and scalable solutions, with privacy and security baked in. 
 
This approach demands a highly skilled team with an open, creative, and proactive mindset. For this reason, we invest in our people, equipping them with the skills to keep ahead of data privacy risks and know how to spot and take advantage of opportunities. We support this people-centered approach with two pillars:
 
  • One, a hiring strategy that demonstrates the importance of diversity from across the spectrum: countries, cultures, race, and gender, but also professional backgrounds, ranging from privacy and compliance officers to AI professionals, cyber experts, policy people as well as privacy engineers.
  • Two, a retention strategy that puts a premium on our team’s ability to grow and deepen their expertise – on Data Privacy Day and every day. This includes encouraging team rotations and supporting opportunities for further training.

Leveraging partnerships in our complex ecosystem
Beyond our internal teams, there’s an entire ecosystem supporting our digital interactions. In today’s deeply connected world, partnerships are essential for protecting data.

From policymakers and regulators to industry and civil society, we will be able to solve the most challenging privacy issues brought on by digital transformation if we do so together. For instance, we believe there’s an opportunity to explore together how to incentivize responsible data sharing, to unlock new innovations and data for the common good, while safeguarding people’s data and privacy rights.

Data Privacy Day marks an excellent occasion to advance the dialogue on how to capture these opportunities responsibly.


Technology as part of the solution
Technology is both the factor behind the need for stronger data privacy controls and a key part of the solution. Organizations cannot overlook the need to have the right tools and technologies to minimize data privacy risks. This includes exploring privacy-enhancing technologies that allow organizations to extract value from data without exposing the data itself, with full respect for people’s privacy.

Technology is also necessary to help organizations remain agile in an environment of fast-changing regulations and risks. Having the right tools in place, including automated solutions to protect people’s data and honor their privacy rights, can help businesses accelerate and scale their compliance efforts, even in the face of fragmented global standards.

Craft your data protection approach
We invite you to view Louveaux’s speech in its entirety, and insight from other data protection and privacy leaders through the World Bank Data Privacy Day event page. Join the Mastercard Policy Center for the Digital Economy community to receive new insight, including information on upcoming initiatives and digital economy events.