Credence Data Trust Rating System (Credence DTRS) is a data trust rating system that has been developed through a consortium of strong industry partnerships spanning across the entire value chain of a certification journey, across various geographies and across multiple disciplines.
The members include:
Companies obtaining Credence DTRS certifications, will be able to demonstrate to their customers, their accountability in handling personal data; assure regulators of their compliance to the legislation; to their business partners, the confidence in exchanging or receiving data; and to their investors, their ability to meet best practices . Chain masters will have strong confidence in ensuring their web of data partners have met measurable stringent criteria according to Credence DTRS.
Credence Data Trust Rating System Framework
Key data trust stakeholders for Enterprises
Factors of Data Trust which stakeholders are concerned about includes :
compliance to the law, accountability of companies in putting the right resources and processes to take on the task as guarantors of data entrusted to them by their customers and partners, communications with their customers including external communications with their data partners, facilitating customers of their rights over their data and providing data security.
Focus areas to comply with to meet the 5 Factors of Trust of the 4 key data trust Stakeholders
Business Value Propositions in obtaining Credence Data Trust Ratings
We are currently piloting the application of cTrust and will announce the final form in 2H 2022.