ANZ has announced its partnership with Data Republic, a local startup, to drive innovation through secure data-sharing environments.
Through the partnership, ANZ will have access to the Data Republic platform. The platform provides a data-sharing control centre for organisations to hold, share and categorise data while maintaining strict governance and auditing frameworks.
By using the data-sharing platform, ANZ can now share its data with secure and trusted third parties. Emma Gray, chief data officer at ANZ, said: “Using data analytics and insights to deliver better customer outcomes more often is an essential part of how we need to operate in the digital economy.
“This partnership allows us to get more out of the data we already have, but in a safe and secure environment that provides the highest levels of governance. Through the cloud-based platform, we will now be able to access trusted experts and other partners to develop useful insights for our customers in hours rather than months.”
Data Republic CEO, Paul McCarney, commented: “We are very excited to welcome ANZ as both a strategic investor and technology client. ANZ clearly understand the importance of secured data sharing practices in today’s data-driven economy.
“This partnership is about ANZ investing in the right technology to future-proof their data collaboration capabilities and will ultimately position ANZ to overcome many of the challenges and potential risks associated with open data, data sharing and the Federal Government’s recently announced Open Banking reforms.”
ANZ will begin using the Data Republic platform from late March 2018. The bank said that the partnership will enable greater customer insight.