For banks, the message is clear: They already have robust regulatory protections in place to safeguard customer data. Here are three ways banks and credit unions can put the data they already have to better use for their customers:1. For example, Intuit (my former employer) has recently started making loans to small business customers who use its QuickBooks accounting software. This latter kind of data isn’t easy to find, and getting access to competitive data can require small businesses to share their own data with online vendors in return. Without violating confidentiality, it would be easy for a bank or credit union to share anonymous benchmarking data with their small business customers to help them improve their operations.

Source: Forbes February 21, 2019 13:52 UTC