Data portability is the ability to move digital data from one database to another. It’s the idea that the personal data companies are gathering online should be accessible by the data subject in a way that is understandable to them, and also that they should have the right to share that data with whoever else they want to.
Being able to port (or move) data from one place to another is relevant for many different contexts and situations, but especially when a person’s financial data is involved. When the data collected by financial institutions is accessible and safely moveable to other applications, a world of possibilities opens up for users. Whether sharing that data allows for better budgeting, paying off debt, earning rewards, bill payments, or whatever else it may be, all of the involved parties can benefit.
In the past few weeks, here on the blog we’ve published a series about data portability to help readers better understand these concepts and also move toward integrating data portability into their lives and platforms. Part 1 of the blog series included a brief introduction for portability and related topics. Part 2 discussed how portability affects specifically developers and users. In Part 3, we explained how compliance and security works within portability, and in Part 4 we compared the old ways of porting data with the new ways. Finally in Part 5 we gave some helpful suggestions for developers wanting to incorporate data portability into their applications.
In this white paper on data portability, we’ll do a deeper dive on the issues discussed in the blog series under the overarching theme of data portability’s increasing relevance in our world today. We’ll discuss the common ways data is collected on users, the legislation that’s currently guiding portability, and also argue for how portability makes data even more powerful in our digital world.
Fill in your info below to download the paper and learn more about this important topic today.