Monday, 26 February 2018 11:28

ANZ takes a stake in Data Republic Featured

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ANZ takes a stake in Data Republic Image courtesy of Stuart Miles at FreeDigitalPhotos.net

The ANZ Bank has taken a stake in start-up data exchange platform Data Republic with a strategic investment it says is aimed at speeding innovation through secure data-sharing environments.

ANZ says it will be able to use the platform to share data with trusted third parties in a secure and well-governed environment.

The bank says the partnership will provide it with access to the Data Republic platform, which delivers a “data sharing control centre for organisations to store, categorise and share data while maintaining strict governance and auditing frameworks”.

ANZ chief data officer Emma Gray 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 chief executive Paul McCarney said: “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 has announced it will start using the Data Republic platform from late March to develop greater customer insights and a series of operational improvements.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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