ANZ puts dollars behind Data Republic

Bank becomes the latest strategic investor into the Australian data sharing marketplace as it strives to better tap data for customer insights

ANZ Bank has become the latest strategic investor into data sharing market place, Data Republic, under a new partnership aimed at lifting the banking institution’s data insights game.

The new partnership provides ANZ with access to the vendor’s data sharing control platform, which allows organisations to store, categories and share data with third parties. In a statement, ANZ chief digital officer, Emma Gray, said the partnership is about getting more out of the bank’s existing data sets in a safe and secure environment equipped with significant governance and protocols.

The partnership kicks off in late March and will prioritise greater customer insights and operational improvements.

“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,” she said. “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 CEO, Paul McCarney, welcomed ANZ as an investor and user of the platform and said the partnership will allow the bank to “future-proof its data collaboration capabilities”.

“It 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,” he said.

The deal makes ANZ one in a number of key investors in Data Republic, a list that also includes keystone partners such as Qantas Loyalty, Westpac, Qualgro VC and NAB. An AFR report suggested ANZ had invested as much as $2 million into the startup.

Data Republic secured $10.5 million in its first funding round in mid-2016, gaining the support of Qantas Loyalty, NAB Ventures and Westpac’s Reinventure Fund.

Since then, the group has struck a number of strategic deals, including a contract to launch a data sharing platform for the NSW Government Senate, a core component of the state Government’s digital strategy announced last May by the NSW Minister for Finance, Services and Property, the Hon. Victor Dominello. The platform is expected to provide a secure and controlled ecosystem for data sharing across government agencies, companies and social good organisations.

Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+:google.com/+CmoAu 

 

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Blog Posts

Data has the power to build or burn brands

A brand can be severely wounded by use or misuse of any of its assets and you could say data has the greatest power of all to inflict damage.

Lucy Acheson

Head of data strategy and customer experience, LIDA

Totto and your inorganic future

At Cannes Lions this year we’ve been treated to many artificial intelligence (AI) insights. It’s one of the major discourses of our time.

Richard Brett

CEO, opr

Personas of one and the rise of ‘always there’ marketing

I’ve got some bad news. The ‘always on’ marketing approach that many companies have only just fully implemented is already out of date.

Nigel Roberts

Founding partner and strategy lead, Yell

Carisoprodol is used for treatment of pain.so it has some amount of drug use it carefully . Get its complete usage and prescription from ...

jensons henry

CMO profile: The strategy behind Cash Converters brand and customer experience reboot

Read more

This is very educational content and written well for a change. It's nice to see that some people still understand how to write a quali...

mark Johnson

Digital advertising continues to dominate marketing budgets

Read more

I am a new satisfied customer with the cryptodriven darkwebsolutions company, they helped me with a very efficient crypter for my company...

Yusef

The CX thinking behind Westfield A/NZ's new brand and digital identity

Read more

I enjoyed reading your article. It all starts from creating a persona of your ideal customer. Once you understand the needs then you can ...

Ardie Cash

4 skills needed for a marketer to sit on boards

Read more

A very prestigious list. Cant wait to see who ends up in this years list. Cheers!!

Diganto

CMO50 2018 is now open for submissions

Read more

Latest Podcast

More podcasts

Sign in