20 April 2018
Visit https://aciworldwide.webex.com

UK govt opens midata innovation lab

10 July 2013  |  9125 views  |  0 Parliament Big ben London

The UK government has opened its 'midata' innovation lab, enabling businesses to collect consumer data and use it to build apps that will help Brits manage their money.

The midata programme - launched in late 2011 - aims to give Brits portable, electronic access to the information held on them by public and private bodies. The government hopes that by harnessing this data, people will be able to better understand their own consumption behaviours and patterns.

So far the focus has been on making sure that consumers can access their data - from utility to phone bills - in an accessible format, but now the government wants to make it easier to unlock the value of the information.

The latest stage of the project sees firms get access to the real customer data of 1000 volunteers through the lab and use it to create digital apps. So far, Telefonica, BBC, Moneysupermarket.com, npower, Grapple and Which? have signed up to the lab.

Consumer affairs minister Jo Swinson says: "Today's most successful businesses are the ones that are creative about building customer relationships. The new 'midata' Lab is an exciting opportunity to put this to the test and explore how businesses could help customers use the data around their spending habits to make better choices."

Martin Lewis, creator, MoneySavingExpert.com, adds: "Currently when it comes to finding the cheapest mobile deal, energy bill or bank account - many people struggle to know their exact tariff name - let alone a detailed analysis of their usage.

"A rose tinted crystal ball would show that with Midata, people will be able to press a button, and their entire usage history is flung to a independent website or agent who'll interrogate it and show them their most competitive provider - cutting out all the guess work and diluting the impact of marketing and spin."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

UK govt picks PayPal for online ID assurance service

UK govt picks PayPal for online ID assurance service

17 January 2013  |  11495 views  |  0 comments | 15 tweets | 12 linkedin
Banks backing UK government online identity project

Banks backing UK government online identity project

03 November 2011  |  17666 views  |  8 comments

Related blogs

Create a blog about this story (membership required)
Visit https://aciworldwide.webex.comVisit http://wup.digital

Top topics

Most viewed Most shared
Revolut launches spare change savings toolRevolut launches spare change savings tool
9480 views comments | 14 tweets | 19 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
8408 views comments | 17 tweets | 30 linkedin
Barclays Bank sets up tech venture unitBarclays Bank sets up tech venture unit
8252 views comments | 16 tweets | 22 linkedin
Goldman Sachs acquires PFM startup Clarity MoneyGoldman Sachs acquires PFM startup Clarity...
7838 views comments | 9 tweets | 10 linkedin

Featured job

Find your next job