An 18-month consultation (2018-2019) with over 250 public & private sector financial organisations and individuals—to understand their needs—revealed:
- A need to convene public & private sector actors to help share insights, opportunities and threats
- A need to better map investment to impact both in pre-funding analysis and post-execution reporting
- A need to demonstrate material, long-term impact that reduces risk and increases returns
- A need to stimulate innovation that brings together public & private sector expertise to maximise public good and private returns
- A need to reduce friction in data sharing, addressing IP and related legal and security issues
The initiative also draws on learnings from both the Open Banking Standard and the Open Data Institute.