Westpac’s DataX will supply NSW government agencies with credit card transaction data, which will be de-identified to protect customer privacy.
The Data Analytics Centre, located within the NSW Department of Customer Service, will use this data to drive evidence-based decision making and improve outcomes for NSW citizens.
The insights generated by DataX’s analysis of millions of Westpac retail customers and data from merchant terminals can help the government to monitor economic activity across the state, plan for disaster recovery, and assess the effectiveness of relief efforts.
Westpac’s head of DataX, Jade Clarke, highlighted the potential for these insights to inform economic and social policy and fill gaps in knowledge about consumer spend and financial wellbeing.