Newly published ‘smart data roadmap’ will help boost competition and lower utility bills, John Penrose says.
The ‘smart data roadmap’ sets out the timeline for sectors to be opened up to the new smart data powers in the Data Protection and Digital Information (DPDI) Bill. This will allow companies to invest in getting ready for the changes, which will allow consumers to safely share their data with third parties to help them more easily switch providers and access better deals in one-click.
John Penrose has been a long-term campaigner for smart data and the open economy, arguing that the UK should capitalise on its global lead in open banking to extend data portability schemes to other sectors to make switching providers cheaper and more convenient, unleashing competition. Penrose has spoken in the House of Commons many times to press Ministers to introduce today’s roadmap.
Commenting on the news, John said: “I am thrilled that we finally have a timeline for this. Building on the success of open banking, which most of us use daily without realising, today’s roadmap shows the UK means business and gives us a chance to extend our world-leading position in open banking into lots of other industries too.”