compliance
Compliance and ethics are at the heart of our business
Our commitment to upholding privacy and good data practices, drives all of our compliance and business decisions.
World-leading standards
We take our responsibility to protect data, and ultimately to protect privacy, seriously.
Our unique methodology of ‘privacy by design’ means that responsible data handling, and the preservation of privacy, is always our first consideration.
Trusted by governments, institutions and academics
Our day-to-day processes are built on transparency, integration and innovation. This has been the key to Fable Data’s success, and has led to many global organisations relying on our data.
Fable Data is now voluntarily applying the Code of Practice for Statistics, a standard that providers of official statistics adhere to. Although not mandated for Fable, we are committed to adhering to these practices as a leading provider of alternative data.
You can read our Statement of Compliance with the code here
Going well beyond mandated requirements is part of Fable’s culture
Our nose-to-tail approach to compliance is all about ‘doing the right thing’. This is demonstrated in the ways we engage both with our Data Suppliers and our clients. Internally, we manage our data with anonymity, supporting and guiding our teams with regular, active and insightful learning.
Fable’s fundamental duty is to uphold privacy. This is why we developed the concept of ‘privacy by design’, requiring us to consistently challenge and update our methodologies and our market-leading processes and tools. We always welcome the directions, obligations and structure provided by GDPR.
Our dedicated Compliance and Audit Committee is chaired by former government minister Rt Hon. David Laws. This committee is a vital and independent part of Fable’s corporate ethical practice, and seeks to scrutinise our decisions and – where necessary – challenge the rationale behind them.
Compliance data management
Our methodology
Discovery
This is the process by which we review potential new data sources. We question how the data is obtained and organized, and examine the environment in which it is held.
Evaluation
This stage evaluates a sample of the supplier’s data by running multiple bespoke Fable processes that reveal data quality and completeness. All data must meet the Fable Compliance Standard before we move to the next stage.
Partnering
Based on the above processes we move into the contract stage.
We then “ingest” the full client data file, documenting all the processes and procedures that each party is undertaking. These include vital agreements regarding anonymity standards.
Maintenance
After suppliers are onboarded, the data will continue to be subject to ongoing quality analysis.
We are proud to be members of
FAQs
Fable Data is a data aggregator and data science company. The company builds real-time, GDPR-compliant datasets from multiple sources such as anonymous consumer transaction data sourced from banks, card issuers, open banking or payments processors.
The company sells data mainly to regulated blue-chip investors and corporates.
Fable Data also has “Partner” relationships. In these cases, Fable supplies data to these partners for research purposes at no cost. These partners have an extensive due diligence process, an obligation to store data in a secure environment and non-disclosure agreements in place. (Link to mission partner page)
Fable has a variety of data suppliers across banks, card providers, fintechs and companies in the open banking and payments industries.
Yes. Fable Data is registered with the [ICO]
We as an institution do not receive any personal data. Our data partners warrant that anything they send is free from any individual purchaser’s personal information. If required, we help them with processes to ensure this.
Furthermore, we remove anything we think might be identifying such as scrubbing airline ticket numbers or excising protected characteristics or any potentially revealing information on political or sexual orientation. We are actively engage with data ethics experts and privacy experts.
All data suppliers undergo an evaluation stage. Here, our compliance team assesses the level of anonymization within the dataset, and may make recommendations.
These recommendations will usually be a combination of the following:
– Recommendation to omit certain types of data
– Recommendation to carry out further masking
– Request to understand the data better
Once the data has been reviewed, and a compliance assessment completed, both supplier and Fable teams will discuss any changes needed. We also ensure that there is the technical capability to make these changes. A final review is then carried out. All data supplied to Fable Data is subject to quality control procedures to ensure emerging issues are identified and resolved promptly.
The compliance team manages daily compliance and reports directly to a Compliance and Audit committee who are responsible for compliance at a board level.
The Data Protection Officer [DPO] also sits on the Compliance and Audit Committee and has oversight on all relevant matters.
Ethics are an integral part of all of our data related decisions. We adopt a two-pronged approach:
The first being our regulatory position. We always ensure we only hold sufficiently anonymized data.
The second is our own policy-led approach to data generally. We follow strict internal data masking and redaction protocols.
Compliance & Data ethics
We would love to hear from you
If you have any questions regarding Fable’s Compliance or data handling methodologies, please contact us.