The Transport and Mobility industry makes owning and sharing data difficult. The travelling customer has to work hard to access all their transport & mobility data. There are dozens & dozens of different online accounts – one for every major Transport Provider and MaaS Platform. Customers therefore have to log into every account to get a complete view of all their transport tickets and usage.
Or put another way:
- Why isn’t there a way for the travelling customer to view their data in all disparate accounts in the same way?
- Why don’t we have online services that can present all tickets, permits & passes across multiple different transport modes in a single dashboard (without them being part of one bespoke platform)?
- Where are the innovations that join up customer journey data to help them made faster, cheaper, or greener future transport decisions?
The biggest inhibitor to Transport & Mobility Smart Data integration is not technology, but the lack of an adopted framework to securely access, use and share that smart data. (Smart Data, defined as data that is owned by a customer and then shared with their permission, allowing it to be portable and interoperable between multiple services)
Transport also has a lot to learn from other industries about Smart Data (sometimes called “Shared data”).
Open Banking gives consumers the right and the ability to share their financial data with third parties. This industry-wide approach was significantly pushed forward by the European Payment Services Directive 2 (PSD2) in 2018. Following this, The Competition & Markets Authority (CMA) legislated that the UK banks must create API Standards that now allow third parties to access data in a consistent way. This helped to put customers back in control of their data and also kick-start and enable an entire ecosystem of innovation.
Open Finance is defined by The Financial Conduct Authority (FAC) as “the extension of open banking-like data sharing and third-party access to a wider range of financial sectors and products“. An example of this is interoperable vehicle telematics data that can open up the car insurance market.
Open Energy can do the same in the energy sector by making it much easier to exchange contract and usage data. This would allow better and more personalised products & billing and make account switching much easier.
9th September 2020 the UK Government published the report: “Next steps for Smart Data. Putting consumers and SMEs in control of their data and enabling innovation”. This welcome report stated the intention to use legislation to “mandate industry involvement in Smart Data initiatives across the economy”. Clearly indicating that Parliament will make different sectors participate in Smart Data initiatives, including Transport – which was specifically mentioned.
So its clear that the Transport and Mobility has a lot of catching-up to do and with inevitable legislation on the horizon… it is time for the industry to shape involvement or be shaped.