UK’s new Data Protection and Digital Information Bill proposes updates on digital verification services, smart data schemes and open banking
The new Data Protection and Digital Information bill, which had its first reading in Parliament on Wednesday 8th March, provides updates to digital verification services, Smart Data schemes and Open Banking.
Currently, there is no existing legislation relating to the regulation of private organisations providing digital verification services in the UK. The new Bill will establish a regulation framework in the UK and enable disclosure of personal information to trusted digital verification services providers for the purpose of identity and eligibility verification.
Updates to Smart Data, the Bill states, will improve data portability between suppliers, service providers, customers and third parties to enable customers to make better choices about the use of their data, benefit from a more competitive market place and ultimately, save customers money.
The Bill is yet to be scheduled for it’s second reading in the House of Commons.