Changes in technology should not mean that records of whānau behaviour become a tradable commodity for the advantage of businesses. A robust consumer data right framework can ensure whānau own, and can utilise, their data towards their wellbeing.
We welcome the opportunity to comment on the Ministry of Business, Innovation and Employment Unlocking value from our customer data Discussion document (Discussion Document). FinCap generally supports work towards a consumer data right (CDR). Standardising data so it can be easily transferred between providers, and ensuring whānau are in control of where their data is, can improve outcomes in the sectors where it is used.