Alliance on Appropriate Data Use

In an effort to better understanding the implications of the Fourth Industrial Revolution, the Forum prioritized a review of the financial system through its initiative, Balancing Financial Stability, Innovation and Economic Growth. A key part of this review focused on the appropriate use of customer data in financial services. Although a number of standards on data use are emerging (e.g. GDPR), there is no global standard. If this isn’t addressed, this lack of global coordination will result in significant system fragmentation. As such, we will continue to work with financial services firms to socialize and endorse the global principles guiding the use, collection and sharing of data.

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