1st Edition
Customer Data Sharing Frameworks Twelve Lessons for the World
The proliferation of open banking and open finance regimes across the globe demonstrates an ever-increasing interest of policymakers in empowering customers to take control of their data through innovative data sharing frameworks. These frameworks mostly operate within a single (e.g., financial services) sector but are poised to extend to other parts of the economy in the future – and eventually apply economy-wide.
This book articulates the concept of economy-wide customer data sharing (CDS) frameworks, analyses in detail the main challenges associated with the development of such frameworks and is informed by the lessons learned from Australia’s world-first cross-sectoral Consumer Data Right regime. It develops a first comprehensive taxonomy of CDS frameworks and offers valuable insights on crucial issues of customer trust, information security, consumer protection and participant regulation.
This study, apart from its scholarly importance, has clear practical value. It formulates twelve lessons that will assist governmental officials and other policymakers engaged in establishing and revising data sharing frameworks across the globe. It is essential reading for anyone interested or involved in the law and policy related to the sharing of a most precious resource in the modern economy – customer data.
1. Introduction 2. Foundations of CDS 3.0 frameworks 3. Scope: Expansion of the framework and write access 4. Service providers’ perspective: the quest for greater participation 5. Customer perspective: the quest for customer trust 6. Enforcement: Efficiency and fairness 7. Regulation: Oversight and flexibility 8. Conclusions: twelve lessons for the world
Biography
Anton Didenko is a Senior Lecturer at the Faculty of Law and Justice, University of New South Wales (UNSW), Sydney, Australia.
Natalia Jevglevskaja is a Research Fellow at the Faculty of Law and Justice, University of New South Wales (UNSW), Sydney, Australia.
Ross P. Buckley is an Australian Research Council Laureate Fellow and a Scientia Professor at the University of New South Wales (UNSW), Sydney, Australia.
“The authors are leading writers in the field of customer data sharing. All are academics at the UNSW School of Law and Justice. Anton Didenko is a Senior Lecturer and Natalia Jevglevskaja is a Research Fellow. Ross Buckley is the KPMG Law – King & Wood Mallesons Professor of Disruptive Innovation, and a Scientia Professor at UNSW. All three have a significant number of journal publications and conference papers published in this area and the team represents a group of the premier academics in this space. The book has a foreword by Dr Scott Farrell, one of the leading thinkers in the development of the Australian CDR. […] The major contribution of the book is making clear the value of customer data sharing frameworks in an economy-wide context. Although the writing team members are all academics, the book is very accessible. As a consequence, it will be valuable to a wide audience. This audience includes policy makers, regulators, regulatory advisors, lawyers, academics, and perhaps most importantly, strategists in the businesses which will be affected by customer data sharing frameworks. The volume points out that retail loyalty schemes are built on precisely the consumer data that works well in customer data sharing frameworks. If loyalty schemes could be ported, price and service level competition would improve in every sector where loyalty programs increase customer “stickiness”.” — Rob Nicholls, Professional Fellow, UTS Law, appearing in Australian Business Law Review 63, 2024
