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> But there is absolutely no business incentive there - rather the opposite. Easy portability of data is not something most companies would want. That depends
by Vinnl 6y ago
> But there is absolutely no business incentive there - rather the opposite. Easy portability of data is not something most companies would want.
That depends on what kind of data it is. For example, your home address is not part of your bank's primary business model, but keeping it up-to-date is important for it. If data portability in and out of the bank makes it more likely that you'll keep it up-to-date, that's useful for your bank as well.
Legislation and customer demand is also making it more and more palatable. If some data is not critical to your business model, but being the sole guardian of it is a legal/reputational liability is, then actually handing control over that data over to someone else and re-using that is very useful.
- riffraff 6y agoThat's interest on the side of the data consumer not the data provider, for lack of better words. If the bank was the one owning the information they would not want it to be shared with others as that would allow their client to easily migrate to another bank which they definitely do not want. But as the one receiving the data,sure, it would be nice to have others share it with me, they'd say. I'm afraid without legislation data sharing is never going to be a thing.
- Vinnl 6y agoAt this moment that bank is the entity that keeps this data. Their challenge is, however, that the data gets outdated. But if they give other parties the ability to access that data, then the consumer will have more motivation to keep it up-to-date, and the bank will now have access to more accurate address data. (Note that the bank is an example - it could be another party.)
- mschuster91 6y agoThe solution for this would be for banks to use the government as single source of truth - in Germany we have the Melderegister anyway, it's mandatory to register your primary address. Unfortunately it's not allowed by law that a consumer gives "push access" to e.g. banks, health insurance or employers.
- bryanrasmussen 6y agosomehow all this makes me think that well maintained metadata would be a real boon to the more untrustworthy elements of the web.
- Vinnl 6y agoA fair concern - this really depends on legislation like GDPR that only allows for the data sharing with the consumer's explicit consent.