Retention management

According to the General Data Protection Regulation (German: DSGVO), companies are only allowed to store personal data for as long as it is absolutely necessary. Insofar as the data is no longer required for the purpose for which it was collected after the end of the specified retention period, a deletion obligation comes into force immediately. With the new module “Retention Management” RAQUEST comprehensively meets the requirements of the DSGVO and at the same time fulfills the request of its customers for a smart deletion function of expired customer data.

How does the delete function work?

The “Retention Management” module helps you to take all necessary measures to comply with deletion and retention periods. In doing so, the RAQUEST module checks the selected retention period. All customer-related data stored in RAQUEST is only made available for deletion once the business case has been closed and the data is no longer subject to the legal retention requirement.

Is there an interface to the core banking system?

Yes. The module works through an interface that you can control through your core banking software. Deletion takes place via the interface in the core banking system. Employees can thus control the deletion processes from a central location, which in turn contributes to greater clarity and increased performance.

Once the retention period is reached, the core banking system specifies the data records to be deleted via the interface. RAQUEST automatically deletes data that has expired. For data subject to the retention period or required in workflows, a veto function intervenes to prevent relevant data from being deleted. Those responsible can control this veto directly in the core banking system and override it if necessary.

What are the benefits of the module for RAQUEST users?

In addition to compliance with the DSGVO rules, the module brings another advantage: the continuous data growth in your organization remains clear – and you are always on the safe side legally.