Australia bank ANZ has teamed up with vendor DataCo on a platform that uses de-identified customer and transactional data to provide businesses with useful insights
DataCo is the first commercialised business to launch through ANZ's external investment partner 1835i as part of a venture studio model.
The startup's core technology, built in collaboration with ANZ and 1835i, securely combines data from multiple sources into a safeguarded and de-identified dataset. Businesses can use the platform to perform targeted analysis, uncover spending trends, and identify strategic growth opportunities.
ANZ group executive for strategy and transformation, Antony Strong, says the tech "makes data collaboration accessible to all businesses in a way that meets the compliance needs of highly regulated industries".
Danny Tyrrell, chief operating and product officer, DataCo, adds: "Embedding ANZ Transaction Banking insights into our secure data collaboration technology provides our clients with actionable insights, while ensuring we respect and protect people’s data, in a privacy-first world."