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The UK government has formally launched the Smart Data Group, a cross-sector initiative aimed at expanding the transformative benefits of open banking to industries such as energy, telecommunications, retail, and finance. The move follows the recent passage of the Data (Use and Access) Bill in Parliament, setting the legislative foundation for broader application of secure, consumer-driven data sharing.
The Smart Data initiative enables individuals to securely consent to the sharing of their personal data with third-party providers in a standardised and interoperable format, allowing for more personalised services, easier switching between providers, and improved access to competitive offers.
Chaired by former Minister for Smart Data, Paul Scully, the group brings together policymakers, regulatory experts, and private-sector leaders to accelerate deployment. Operational leadership will be spearheaded by open banking veterans Richard Newman and Clare Ambrosino, supported by an advisory board that includes high-profile figures such as Jonathan Ashworth, Lord Iain McNicol, Lord Martin Callanan, and Sir Robbie Gibb—reflecting strong cross-party political backing.
“Smart Data has the power to transform the way we do business and has potential to supercharge start-ups across the country,” said Justin Madders, Minister for Business and Trade. “This new group will play an important role in unlocking that potential, and our modern Industrial Strategy will be a driving force to boost our priority sectors and drive economic growth right across the nation.”
A Scalable Framework for Consumer Empowerment
The Smart Data framework builds on the UK’s leadership in open banking, aiming to give consumers greater control over their data while ensuring robust privacy protections. It also sets the stage for future innovation in data portability and interoperability across sectors—key pillars of a modern digital economy.
The group’s mandate includes advising on implementation standards, ensuring compliance with data protection laws, and engaging with industry stakeholders to facilitate adoption.
As governments around the world explore data portability frameworks, the UK’s Smart Data programme positions the country at the forefront of data-driven innovation, consumer empowerment, and cross-sector digital transformation.
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