Scale the initiative

Scale the implementation of Smart Data schemes, both within sectors to include additional and more complex components, and also cross-sector to merge and synchronise relevant aspects.

Smart Data Schemes are still new, and none outside of Open Banking, with its evolution into Open Finance, are currently in a position to begin scaling in earnest. Nevertheless, our research on scaling data innovation programmes and Smart Data Schemes yields some broad recommendations for strengthening the data landscape that the programme will operate in.

We envision different types of scaling activities to be led primarily, but not exclusively, by different stakeholder groups.

Review complementary legislation

Review complementary legislation, for example data protection and anti-discrimination laws, to ensure the benefits of Smart Data are applied equitably, following ethical principles.

Government agencies and regulators should should ensure other legislation being promoted is complementary to the aims of Smart Data Schemes, such as:

• Data protection and privacy laws that need to be incorporated at an early stage and might impact the access and reuse of Smart Data for innovation.

• Sector and technology-specific laws, for example those around FinTech, AI and energy digitalisation.

• Data sharing and publishing laws and regulations, such as Presumed Open data or 'Business-to-Govt' (B2G) data sharing.

Support the wider ecosystem

Support organisations outside of the data innovation programme that will help deliver the desired objectives of Smart Data Schemes such as digital inclusion, for example by meeting their needs on open government data or funding community organisations tackling digital inclusion, data literacy or supporting communities in vulnerable circumstances.

Government agencies and regulators should aim to connect other data and digital initiatives with Smart Data Schemes, such as:

• Exploring where open government data could be combined with Smart Data to improve services and create new products.

• Collaborating with and supporting academia and the education sector on their plans to increase focus on data skills and literacy.

• Working with community programmes aiming to help build understanding of relevant topics like digital and financial inclusion, consumer protection, data privacy, etc.

Grow the international peer network

Develop and/or contribute to an international peer network, such as through the Global Financial Innovation Network (GFIN) model of regulators, policymakers and organisations delivering open banking initiatives in other countries. The UK Smart Data ecosystem should influence and learn from the growing international movement, and harness the opportunity to show leadership by contributing to emerging international standards.

Business, alongside industry bodies and trade associations, should reach out to peer networks and communities in other countries and regions to share best practice and collaborate on innovation programmes.