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26 Jun 2024 15:25
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      Home > News > Business

    A tech bill will let consumers share data with service providers, with the aim of lowering prices

    A tech bill will let consumers share data with service providers, with the aim of lowering prices

    23 May 2024
    Banks, insurance, and power companies will be able to use consumer data, to compete with each other.

    Commerce and Consumer Affairs Minister Andrew Bayly says it could change the banking environment for consumers.

    He says Australia has similar laws, and banks there can offer loans in 10 minutes, simply through accessing customers' spending habits and income data.

    © 2024 Newstalk ZB, NZCity


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