ANZ has announced a strategic investment and partnership with local start-up Data Republic to speed up innovation through secure data-sharing environments.
The partnership will provide ANZ 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 will be able to use the platform to share data with trusted third parties in a secure and well-governed environment.
Announcing the partnership, 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,” Ms Gray said.
Data Republic CEO 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 will start using the Data Republic platform from late March to develop greater customer insights and a series of operational improvements.