The last 12 months have seen constant pushing for more innovation at the highest levels of industry and government to expand the boundaries of possibilities around secure and compliant data exchange for digi.me’s Australian partner Joanne Cooper.
These have resulted in several government agency discussions around harnessing digi.me’s consumer-centric data facilitation platform to deliver human-centred services to align with Australia’s evolving legislation and regulatory landscape.
With Australian regulators’ recent tussles with US BigTech firms Facebook and Google, the eyes of the world meanwhile remain on the country’s Fintech innovation, as the leading phase of the government’s Consumer Data Right (CDR) regulation comes into being on July 1. This will see all banks, not just the Big Four as at present, obliged to respond to data requests from consumers.
Accelerating the Fintech sector to attract new talent into Australia is among the key attractions being touted by the Department of Home Affairs’ new Global Australia programme, established to lure high-flying businesses and individuals to the country.
These are just some one of the reasons that Joanne, CEO of ID Exchange, which includes the new Australian Data Exchange brand, sees 2021 already shaping up to be busier and more exciting than its predecessor, noting the Covid pandemic has accelerated the importance of compliant and privacy-rich data sharing services.
In the run-up to July, Australian Data Exchange (ADX) is working hard to educate the market about the art of the possible, which is further enabled when the velocity of interoperable and permissioned data increases, as well as the ease with which new consumer-facing applications can be curated with plug-and-play platforms and secure APIs, such as that offered by ADX’s partnership with digi.me.
Joanne stated the company’s aim is to extol the benefits of giving app developers rapid ability to create hyper-personalised services built on ethical data with ingrained consent controls and privacy-by-design principles. Crucially, a lot of ADX’s efforts are going into making it clear to fintechs and innovators that fundamental backend system services already exist, and are ready to be utilised to fast track new products and services into the market today, not in some mythical future.
The fruits of this awareness-raising are already apparent, with an op-ed in InnovationAus, and coverage in publications including Australian FinTech for how Australian Data Exchange is forging a leadership path with digi.me to underpin and accelerate the CDR regime. Joanne has also contributed several consultation papers spanning the CDR, Australian Privacy Act, and Data Availability and Transparency Bill (DAT) to address the cohesiveness required to technically implement the various elements of this new legislative terrain.
This month, Australian Data Exchange is sponsoring the #ACCELERATERegTech2021 event, which is taking place over four days between March 17 and 25, with Microsoft as the platinum sponsor.
Joanne will be presenting on the New Economy on March 24, discussing the market opportunity for Regtech, and why good data is a key foundation stone.
She said: “This is a great opportunity to showcase how with good data, regulation and ample consumer data rights Australia can catapult itself as a world leader in Regtech.”
With Australian Data Exchange experiencing unprecedented demand for interoperable, privacy-centric data facilitation, one thing is for sure – Australia is on the cusp of a revolution in data sharing, and Joanne is a woman on a mission to help turn this possibility into a strong baseline for economic growth.