2 Additional Information
Refer the following additional information for EU Data Act:
- Relevance for Financial Institutions
The regulation directly impacts banks and financial institutions that process, store, or generate customer and business data through digital platforms. Our solutions are designed to support institutions in fulfilling data accessibility, portability, switching, and governance requirements without compromising security or regulatory compliance.
- Commitment to Data Access, Portability and Switching
Our solutions support customers to retrieve, export, and transfer their data as needed. At every stage, customers maintain complete ownership and authority over their data.
- Data Sharing Framework and Governance Standards
The Data Act introduces obligations for transparent and secure data sharing. Oracle embeds robust governance controls, security measures and compliance. The specifics relating to this requirement are fully covered in our service contract, where the applicable terms and obligations are clearly defined.
- Data Security, Confidentiality and Technical Safeguards
Oracle implements robust, multi-tiered security protocols that combine advanced technologies, stringent governance, and continuous oversight to safeguard customer data and infrastructure.
- Data Processing, Storage and Deletion Protocols
Detail links shared in the webpage. Also, more specifics relating to this requirement are fully covered in our service contract, where the applicable terms and obligations are clearly defined.
- Third-Party Access, APIs and Ecosystem Compliance
As the data custodian, the customer retains full responsibility and liability for granting third-party access and managing ecosystem compliance. We provide the tools, APIs, and security frameworks, while all decisions and liabilities relating to data sharing rest with the customer.
- Liability, Auditability, and Transparency Measures
Oracle ensures full auditability of all data access and sharing activities. Our products maintain immutable audit logs, configurable reporting, and transparent data access trails to support compliance reviews, supervisory audits, and internal governance.
- Compliance Documentation and Customer Support
Oracle Financial Industries provides documentation, technical guidance, and compliance artifacts to support customer regulatory assessments, supervisory reviews, and internal audits. Our teams assist customers in implementing configuration options required to operationalize EU Data Act controls. More specifics relating to this requirement are fully covered in our service contract, where the applicable terms and obligations are clearly defined.
- Assisted Migration
The EU Data Act requires that cloud and data-processing service agreements include a clearly defined Assisted Migration. More specifics relating to this requirement are fully covered in our service contract, where the applicable terms and obligations are clearly defined.
- Exit Procedures
Oracle Financial Industries provides clear exit and switching processes. The specifics relating to this requirement are fully covered in our service contract, where the applicable terms and obligations are clearly defined.
- Contact Information
For more information on how Oracle Financial Industries supports EU Data Act compliance, please contact your local Oracle re-presentative, or refer to oracle.com.