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Caute_cautim
Community Champion

The way consumers share their data is changing. Is your business prepared?

Hi All

 

Interesting developments here in New Zealand:

 

https://www.pwc.co.nz/industry-expertise/banking-and-capital-markets/consumer-data-right-how-to-prep...

 

What impact will it have on other organisations and nations?  Are they also pursuing?

 

Regards

 

Caute_Cautim

2 Replies
Early_Adopter
Community Champion

Wow it’s not really about getting your data per se, or even making it portable. Consumer Data Right(CDR) sort of compels the Controller to offer the subjects data on their instruction to competitors to get a better deal.<br><br>I can see all sorts of problems in implementation, and I guess trade bodies will have to work out how to do this. I wonder if it will poison credit risk indicators in data held on individuals or have other unintended consequences?<br><br>Also I love the political t1t-for-tat quoted- paraphrasing:<br><br>“The previous lot (who are rubbish) we’re looking at this, and while it is rubbish ish as is we are much better than them so we will keep it(even though as aforementioned it is rubbish - and we’re only doing it because we can do it betterer) and fix it as we’re far much better than they are and good at laws. Signed The Next Lot.”

Early_Adopter
Community Champion

Oh dear, bad words filter…