Consumer-permissioned data is an emerging model for data sharing between consumers and businesses that is quickly changing the way in which consumers can harness the power of their personal data in exchange for products and services.
The concept of consumer-permissioned data isn’t new. It’s been used in the financial services industry for years as a way to verify an individual’s income, employment and credit history. What we are now seeing, however, is the potential to expand this model beyond fintech to offer consumer-permissioned data sharing for jobs, education, loans, credit, insurance, and more.