The Australia and New Zealand Banking Group (ANZ) is one of the largest financial institutions in Australia. As a highly regulated financial services provider, ANZ has an absolute priority on data security.
ANZ wanted to strategically innovate and drive internal exploration of its corporate data. The bank knew that it can make good business sense for organizations to share data to drive better business decisions. Data exchanges happen frequently when relationships are already set up, such as credit bureaus providing credit assessments to lending institutions evaluating a loan application.
Yet ANZ found that pursuing new data sharing opportunities was difficult. Teams were concerned that sharing data could put the bank at risk and that the outcome of the data exchange may not be valuable. There was no easy way to create a sharing partnership with another organization. It sometimes took from 12 to 18 months to create agreements on technology, contracts, and methodologies.
Emma Gray, Chief Data Officer at ANZ and Paul McCarney, CEO at Data Republic – 2018
ANZ chose the Data Republic Senate platform to confidently govern data sharing and accelerate new data partnerships. The Senate platform delivers a full suite of tools for ANZ to control and simplify data sharing, including data access controls and user permissions, governance workflows, shared analytics workspaces, and full licensing audit trails.
ANZ has accelerated their data sharing capability with confidence that commercial risk is controlled and that customer privacy and PII is protected. Token-matching technology excludes PII, allowing data sets to be matched without customer information being exchanged.
With the Senate platform, ANZ can customize the visibility of data sets for internal and external parties, manage data requests from an internal marketplace, and control licensing terms specific to how and why data is provisioned. ANZ can focus on delivering innovative outcomes through new data sharing partnerships and collaborations across the data ecosystem.
In 6 months of deploying Data Republic’s Senate Platform…
“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.”
Chief Data Officer at ANZ
WEBINAR FEATURING DATA REPUBLIC AND ANZ
Webinar: Build A Trusted Data Sharing Capability With Data Republic
Learn how ANZ uses Data Republic’s Senate Platform to confidently and quickly analyze and share internal and external datasets. Jeff Menitplay, Head of Data Innovation & Partnerships at ANZ, talks through the challenges ANZ faced with data sharing and how Data Republic offers a unique combination of features that has unblocked stalled analytics projects.