Australia’s ANZ Bank has joined forces with DataCo to launch an innovative platform that leverages de-identified customer and transactional data, empowering businesses with valuable insights.
DataCo becomes the inaugural commercial entity to emerge from ANZ’s external investment partner, 1835i, utilizing a venture studio framework. The startup’s advanced technology, developed in partnership with ANZ and 1835i, expertly integrates data from diverse sources into a secure and anonymized dataset. This platform enables businesses to conduct targeted analyses, uncover spending patterns, and identify opportunities for strategic growth.
Antony Strong, ANZ’s Group Executive for Strategy and Transformation, emphasizes that this technology democratizes data collaboration for all businesses while ensuring compliance in highly regulated sectors. Danny Tyrrell, Chief Operating and Product Officer at DataCo, notes that incorporating ANZ Transaction Banking insights into their secure data collaboration technology empowers clients with actionable intelligence while prioritizing privacy and data protection in a data-sensitive environment.