The digital advertising sector is undergoing a transformative phase marked by the imposition of stringent privacy regulations. With 19 state privacy laws currently in effect and more on the horizon, the industry is grappling with the need for heightened accountability and transparency in data handling practices during digital ad transactions.
To address this evolving regulatory landscape, the Interactive Advertising Bureau (IAB) has rolled out the IAB Diligence Platform in collaboration with SafeGuard Privacy. This platform offers a tailored solution for conducting third-party privacy due diligence, catering to a wide spectrum of industry players including brands, agencies, ad tech firms, publishers, and platforms.
One of the key highlights of the IAB Diligence Platform is the inclusion of industry-specific questionnaires developed by IAB working groups. These standardized questionnaires are designed to comprehensively assess digital advertising data flows and business use cases, streamlining the due diligence process for all stakeholders.
Efficiency and scalability are at the core of this platform, providing users with a seamless experience in ensuring vendor compliance. By enabling users to complete relevant questionnaires once and share them with current and prospective partners, the platform minimizes manual tasks and enhances operational efficiency within the industry.
Moreover, the IAB Diligence Platform is designed to ensure comprehensive compliance with existing state privacy laws, federal regulations like the Protecting Americans’ Data from Foreign Adversaries Act, and industry-wide initiatives such as the Multi-State Privacy Agreement (MSPA).
Industry leaders have lauded the platform for its role in simplifying diligence processes and upholding high data protection standards. Adform’s Regional President, John Piccone, emphasized the platform’s ability to streamline vendor due diligence requirements, especially in a landscape where digital advertising companies engage with a multitude of partners.
Vinny Rinaldi, Head of Media at Hershey, expressed eagerness in leveraging the IAB Diligence Platform to bolster compliance efforts and maintain a strong commitment to consumer privacy. Similarly, Paul Bannister, Chief Strategy Officer at Raptive, highlighted the platform’s capability to centralize compliance efforts across various partners, ensuring adherence to evolving laws and proactive data management practices.
The development of the IAB Diligence Platform was announced at the IAB’s Annual Leadership Meeting, where industry experts collaborated within the Privacy Implementation and Accountability Task Force to craft tailored questionnaires for diverse digital advertising use cases and vendor types. The platform’s launch represents a collaborative effort aimed at equipping industry stakeholders with the necessary tools to navigate the complexities of regulatory compliance with confidence and efficiency.
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