The conversation around open data in banking has heated up again this week with Atlassian co-founder Mike Cannon-Brookes sharing his views that the “The lack of a banking API in Australia is crazy,”, while the Department of Prime Minister and Cabinet hosted a separate industry roundtables on the Productivity Commission into data availability, inviting leaders from banking and fintech groups to discuss key issues around consumer empowerment, data privacy and productivity.
Both the Productivity Commission and the House of Representatives Economics Committee, who in November called for banks to creates to create APIs for data sharing, are expected to reconvene and deliver final recommendations early next month.
In other news…
Victor Dominello, current NSW Minister for Finance and former NSW Minister for Innovation, has foreshadowed the launch of a major new open data initiative for the NSW state government at a Gartner Summit this week.
Dominello who oversaw the establishment of the NSW Data Analytics Centre (DAC) said; “I’m still hoping by the middle of this year to launch a really big program when it comes to opening up data. And I want it to be the best, the boldest, the brassiest that we’ve got in the country because I really believe in the power of open data.”
Dominello described the initiative as being akin to a “TripAdvisor for open data in New South Wales” with “its own analytics piece built into it”.
WORTH A READ
- Greg Dickason, CTO at CoreLogic, a property data contributor in our ecosystem, has warned the property industry that they must use data to disrupt or be disrupted themselves.
- SMH explores the science of money and the changing role financial data can play in our personal financial lives.
Until next week.