Personal & Property Finance Insights: Part 4

Martin North, data-scientist, banking and property expert, today share’s how the availability of new data (incl. CCR) will transform the Australian market and top tech trends to watch.

If you missed Martin’s previous insights on the Australian Property Marketpersonal finance and use of data by Australian companies, then don’t miss out as there are some gold nuggets in there.



Access to negative credit information offers very little differential pricing. It is binary with a yes I will or no I won’t give you a loan approach. There will be much more differentiation on the different profiles being created once more data can we accessed. Today many would not have access to credit as they have no history however with new data this will give them a history by other means. A broader base of information and more chance to get a score and better score, leading to better rates and deals.


Previously people could get multiple loans with multiple lenders. This will be harder to get that and to not disclose, as lenders will have a more comprehensive view of households and their financial footprint.

This ultimately will be good for banks, financial lenders and consumers



It will be really important to check your credit history and that the data is correct. Consumers must take a comprehensive look at multiple sources to see if data looks right, you can’t assume. The more information that is collected the more likely it won’t be accurate. This is critical as this data is used to judge your repayment ability.

There are some organisations such as Experian that can give you low or no cost checks to see if your credit is correct. Important to check it form time to time and that it is not misrepresenting the data that is available.

There is always a trade-off.

The more information which ultimately may help people, there is a higher risk as more information might be wrong and then attached to your profile. Take control of it yourself rather than thinking it will mystically just happen.


Lastly, any other trends you will be watching?


Yes, the most critical from this year into next will be the continued migration into the mobile environment, jetessing away from physical banks and environments. A critical inflection point to mobile, with less plastic cards, cash and the main contact point with your financial service provider will be on the mobile device.


During this evolutionary point branch networks, physical players, financial advisors and brokers need to pivot as the digital revolution comes. It is a huge turning point for the distribution of financial services. There will be a lot of issues in organisations that don’t understand the transformation and evolve. It’s already happening and near term.

Consumers are way ahead of where the banks are. But of course you also need to think of the digitally excluded such as lower income households.


There is of course the tech to watch such as robo advice, crypto currencies and blockchain, factors which are changing the architecture of the financial industry.

We will end up with micro banks, much more linked to the particular customer segments or groups with richer choice of products and immediacy of service, fundamentally changing the customer experience –in Australia our customer experience from the finance sector is generally appalling.

We are only 10% into this transformation now.

About Martin North

Martin North, Digital Finance Analytics founding Principal, data scientist and banking sector analyst is often quoted in the media.  He curates the Digital Finance Analytics Blog, which provides commentary on our research programmes as well as covering broader industry issues. Register to get regular updates.

Digital Finance Analytics is a boutique research, analysis and consulting firm providing advisory services to clients in Australia and beyond. Services are delivered virtually using the web, blogs, social media, online conferencing and other digital means. We also produce corporate education and training videos for some of our clients.