Smart Data Laws on the Way

Consumers and small businesses will benefit from better deals and savings through innovative services, thanks to new Smart Data laws proposed by government.

Smart Data enables businesses to provide consumers with more intuitive, easy-to-use services such as better account and bill management, switching services for savings, and targeted support for vulnerable consumers, by allowing businesses to share customer data with authorised third-party providers in an easy and secure way.

For example, Smart Data has facilitated services which could alert a vulnerable consumers trusted contact (such as a family member or friend) if there is unusual activity on a bank account.

New laws will see more sectors, such as communications like broadband, taking advantage of Smart Data to drive competition and innovation, while providing more choices and lower prices for consumers. The powers would make it possible for government to mandate industry involvement in Smart Data initiatives across the economy where they are not participating already, subject to sector-specific assessment and consultation.

Keep in touch

Make sure that you’re following our website and sign up for the Jones Harris enewsletter here

Don’t forget we’re also on Twitter @JHAccountants and you can follow our LinkedIn business page, Jones Harris Accountants

There are
good reasons
why we’re
Lancashire’s

No. 1

The Jones Harris Difference
  • A personal, dedicated contact
  • Free strategic advice on growth and profitability
  • Unlimited telephone / email support
  • Proactive tax advice and analysis
  • Profitability checks via competitor benchmarking
  • A steady flow of good money-saving ideas
  • Active business network introductions
  • Secure client web-space for document sharing
  • No need to email important/sensitive data
Contact us