Data Processing

Definition

Data Processing denotes the set of automated or manual operations that an organization may perform on its material digital data flows. It comprises of activities such as:

• Data Sourcing (also Data Collection)
• Data Storage (persistence of data in databases)
• Data Validation
• Data Migration
• Data Use

ECB TRIM Requirements

Data Processing in regulated financial institutions is subject to specific requirements in particular with regard to manual interventions and data transfers:

• Ensuring that all data transformations are traceable and controlled. General guidelines and rules should be clearly formalised with regard to manual interventions within the data processing;
• Ensuring timeliness and Accountability. All data transfers should be formally agreed upon (for example by means of service-level agreements) by data providers and data users (for both outsourced and in-house processes).