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DSB & ACCC | Data Quality | Online Workshop
The objectives of the workshop, for data recipient and data holder participants within the Consumer Data Right to:
- Discuss data quality impacts and implementation plans to the long-term success and viability of CDR data
- Present a coordinated viewpoint from the Data Standards Body and the ACCC on processes to manage CDR data quality including compliance and enforcement
About This Workshop
Both the successful launch of consumer data sharing by Initial Data Holders from July 1st 2020, and the growing support for Product Reference Data amongst non-major ADIs has seen greater consumer access to banking product data through standards-based APIs. As expected, standards interpretation, data consistency and usability issues arise which require clarification. As consumers and data recipients increasingly make use of CDR data, there are a number of facets to data quality that will benefit from common conventions and conformity across all Data Holders.
This first workshop, run by the Data Standards Body in conjunction with the ACCC, is planned to focus on the scope and impact of data quality to the CDR as well as the processes required for compliance and remediation of data quality. Because the scope and impact of data quality is broad, there are a number of different categories that impact data quality. Each category has a set of associated impacts, including:
- Non-compliance of one or more data holders;
- Incorrect standards interpretation or ambiguous data standards;
- Incorrect linkage of product data to customer account data;
- Enhancement of standards to better describe/define existing data sets as well as inclusion of new data identified as important to consumers (some of which may require new rules or designation);
- Incorrect data held by data holders.
Each category of data quality may require different processes and approaches to solve. Equally, the severity and frequency of different data quality issues may result in different compliance and enforcement obligations.