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At 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 Their challenge is, however, that the data gets outdated.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 abilit
by Vinnl 6y ago
At 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 Their challenge is, however, that the data gets outdated.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.