Global users
Consent records to be stored
Open API integrations
The benefits
Unlocks new sources of revenue from under-utilised data
Improves marketing, customer trust, engagement and loyalty
Increase transaction volume
Removes silos and connects internal teams
Reduces back-office costs and streamlines inefficient processes
Highest level of data security, compliance and privacy
Use cases
The way your customers want to share data with your business has changed. Customers are demanding more control and transparency over how their personal data is processed and are actively prioritising the businesses who recognise and respect their privacy.
Open Banking
Open Banking is one of many global open data initiatives, designed to provide individuals with access to more financial products and services tailored to their circumstances. However, it only works if individuals trust the process of sharing their data.
of people cite lack of trust as the main reason stopping them from sharing their financial data.*
of people want more visibility of how their financial data is used after consenting to share it.*
of people would switch accounts to another bank if they provided a tool to control their data.*
*Consumer attitudes to financial data sharing and privacy, Smarter Contracts, Jan 2022
Marketing permissions
Global businesses with legacy tech, product silos and multiple CRM and ESP systems, make it difficult for Marketing to have a single customer view. Not only does this compromise the effectiveness of campaigns, but it also opens up regulatory risks and fines. The risks are greater for global businesses, with customers spread across multiple countries and regions with their own individual data protection policies.
rise in fines for businesses breaching GDPR, 2021.**
of customers would not buy services from a company that did not protect their data.***
of UK businesses do not seek customer consent before collecting, storing or sharing personal data with external third parties.****
**Infosecurity Magazine, 2021. ***IBM, 2018. ****UK business data survey 2020, UK Government.