DPDP Compliance for FinTech
Financial Data Protection
- AES-256 encryption for all financial data at-rest
- Multi-factor authentication mandatory
- Access logging for all financial records
KYC Data Lifecycle
- Retain KYC documents only during customer relationship
- Delete within 60 days of account closure
- Cannot retain indefinitely for regulatory reasons
Breach Notification
- Notify users within 72 hours of breach discovery
- Also notify RBI immediately
- Maintain investigation documentation
Third-Party Integration
- DPAs with lending partners, credit bureaus, payment networks
- Audit sub-processors' security practices quarterly
- Ensure data residency in India
Disclaimer: General informational article. Consult compliance experts.
