Katryna Dow - Privacy by Design & the API-of-Me

Everyone here. Good afternoon, everyone. Thank you for having me here today. What I'm hoping in the next 30 minutes is I with you through the API of me and talking to about a little of, some of the projects we've been doing recently is that many of the speakers today and have been some amazing sessions already. Some of those threads will actually tie together in a way where there's a cohesive and a, a different actor, which is entering the discussion. And that is the citizen, the customer, the patient, the student.

When we start to think about customer identity and access management, we see a huge shift around the corner in terms of individuals that actually want to be part of how their information is used and how value is actually created and extracted. So I'd like to share with you a little bit of what we see from a trend point of view, from a regulatory point of view, but more importantly, from a practical value point of view, and some of the new business models we see emerging as a result of that.

So here we are in France, I think really on the Eve of what we would call a revolution or an evolution in terms of value being created. We see that there's so much change happening right now from geopolitical point of view, from a regulatory point of view, there are issues in terms of customer growth, trust privacy issues. Obviously the change is coming with GDPR and amongst all of those things, we are looking to see where new value can actually be created. And we see that one of the things that really is standing in the way of a huge change is friction.

And can you just spoke about some of these issues in terms of whether or not it comes to deploying customer identity and knowing that you have the security layer in place? Also the speakers today in terms of the way business practice are gonna have to change, but the actor in the room that is often left out of the discussion is actually you and I, and the friction is actually really increasing in our life. This is an interesting, a different Rachel Botsman, who, who looked at five parameters, looking at the industry to see whether or not it was right for disruption.

And just saying anywhere there was waste complex experiences, redundant intermediaries, limited access and broken trust, actually create an opportunity for there to be severe disruption. And what we look at those five parameters and say, what sits on the other side that is efficiency, simplicity, direct exchange, shared access and transparency.

That sounds like a great opportunity for an indivi individual to participate actually in value being created in Australia a few weeks ago, our productivity commissioner published a report that came out with some recommendations beyond GDPR with relation to personal information and consumer rights. And they actually talked about the fact that data is an asset and is an asset class really needs to best with the control of the consumer or the citizen.

And when you start to think about value in any kind of market and you think of data as value assets generate value, and we know that they always return value to those that control or participate in that value chain. So how is it that we can create more efficient markets as a result of individuals being part of that? And we've heard this morning, the general data protection, the open banking, the payment services directive.

These could all create compliance and burden for organizations, or as we are seeing with many organizations we are working with, they can create huge opportunity for greater customer intimacy, much better outcomes for a better experience for a patient to be able to move through service providers or a child to move through the course of their education, actually gaining much more than an educational, much more than health treatment in terms of the way they're empowered through systems. This is interesting quote from bill gates.

I dunno whether it bothers me that he said it so long ago, and I'm not sure how far off it trigger it is. But one of the things that we're seeing in the ization of everything is this idea that banks banking is necessary, that banks are not. And so we have a generation of digital natives that are looking for services and outcomes, but not necessarily thinking they'll go to a traditional provider. They're not necessarily thinking, well, if I need money, I'll go to bank. I might go to a peer to peer lending club or, or I may find that through a social network in some way.

And so if we start to look at the PST two changes or the open banking, there's this concept that maybe organizations enterprises banks may end up being more than a trust mark than an API. And the opportunity to create new value will be based on the information that it will open up and share and allow people to collaborate. And if that's true, if it is about a trust mark and an API, then that trust actually has to be something that is earned. So where is this all leading?

We believe that this is leading towards a new contract in society, a new way of looking at how value can actually be co-created where you and I are able to share in that value. We understand that currently a lot of business models revolve around the idea of data actually being monetized for the data controller.

And again, many of the presentations this morning touched on how a lot of those models will be challenged and that there may be threats associated with certain practices. And we actually think bringing the individual into that value chain can actually turn that those threats into opportunities. We know that there are from a customer point of view, there is a breakdown in terms of trust privacy, data and silos, onboarding friction, regulation problems with KYC, the cost of it, or the cost of actually managing a customer once they're on boarded. So what's required to actually unlock this value.

If we just step back 50 years to, to I think a great analogy of, of what we've already seen, certainly in my lifetime to Japan and what we've seen with the manufacturing, the way that Dustin time manufacturing or lean manufacturing actually created net new value.

And one of the things that was that resulted over the sixties, seventies right up until the beginning of the, this current century was just this idea that if we could optimize the way that information or parts of services or inventory was available at the time we needed it, either way that we needed it, we can actually release new value. And so that meant sitting back and looking strategically at the way, things were planned, designed, executed controlled with the objective, actually creating the new value chain.

And I believe when it comes to personal data and information that were in exactly the same situation at this point in time, right now that the opportunity for us to create new value in the same way that we've seen in the last century from a manufacturing point of view is having a different type of inventory and information available just at the moment that it's needed.

And if we look at the customer from that perspective, we often find ourselves right at the end of the value chain, but the power is starting to shift to you and I, and in that shift, we're starting to ask different questions, whether or not it's going to start from a phys FIAL experience with going to see a Tesla showroom and actually looking at a car and having an experience this both physical and digital, whether or not it's actually asking what's the supply chain, who are the what's the diversity from a procurement point of view, what are the working conditions of the organization before I purchase product?

How can I be involved in the design? How can that the design of this product service we actually customized for me? And can I watch and track as this, this productal service is actually on its way to me.

And, and it shouldn't matter that I'm on the other side of the world, distribution should be able to reach me in any way. And then when it finally comes down to it, what are the options to have whatever it is delivered to my door or to replace that I'm working today. And so when we start to look at organizing the world around the customer, and we look at it from the perspective we are, we have this powerful ability to create enormous value through that value chain. We start to think about the world from an IOT perspective and the idea of connected everything.

When we look at a child born today, we realize very quickly that everything they touch do wear swallow is gonna have some sort of data input and output. And why is that important? Because when we start to think about data information, personal agency, we either have the opportunity to turn customers into products, or we have the opportunity to create great CU products and services for customers. And we think that the great opportunity there is here is that the person is actually the platform.

When you start to think about customers being able to deploy their own API and actually plug into the organization, the opportunity for customers, patients, students, to bring a wealthy attributes, claims information experience directly into the relationships they have with enterprise and government is actually what is going to create enormous value.

We also can see that the consumer today is moving away from informing persuading and reminding the, the, if you like the advertising methods of the early part of the century, to wanting to be involved, to have an experience with the products and services or feeling empowered. We also see this move away from products and services from an ownership point of view to these outcomes and experiences. So it's not that I want to own a car it's that I need to get from a to B it's not that I want to live in this place. It's that I want to have an experience of being able to live in this place.

I don't actually have to own that. And as we start to see the economics of society start to change, we really need to think about how is it on demand economy? How is the on demand world best organized from a consumption point of view from privacy in a data point of view, how do we optimize systems so that we can look at minimal viable collection at a moment where they give the maximum viable access?

So how do we find this nexus between what do I need in this moment to create an amazing customer experience and how long do I need to hold onto that information such that value is created, it's recognized, and we move to the next theme. So from our perspective, we look at the, where value is, is most inherent in personal data or data around customer or a customer outcome, and obviously accurate in real time.

And we've seen amazing breakthroughs from a big data perspective, but when you start to look at the opportunity for data to be actually contextual together with intent, then what you have is an optimal opportunity for information to be exchanged. And for real valuable to be created, the problem is, is that without customer participation, that can either feel really creeping, cuz I've woken up in the morning and I, and I'm picking up my phone and my phone knows what I'm sitting I'm in.

It's making all these suggestions, but I don't even remember being onboarded into that experience in a way that was that it was either transparent or empowering or I can actually be included in that experience. And I can wake up in the morning, go, this is really cool. This service that I have opted into, or the service that I'm participating in is making a genuine difference in my life.

So when it comes to looking at strategy for the decade ahead and for a lot of organizations that are looking at their customer identity access management, they're looking at the solutions and they're looking at what is possible versus what could be planned for, from a participation point of view. Is it going to be around surveillance and distrust because you can, because the systems are available to be able to do that with the customer, or is it actually going to be about consent and trust and actually building new equity in the relationships?

So when we look at customer identity access management, when we look at the C, we would urge two other CS to be included, and that is context and consent. When you start to think about context and helping people understand the power of their information, and you bring that together with consent, then what that does is it creates parody in the relationship where actually there is a lot more that can be achieved.

And with the organizations that we are working with at the moment, we are seeing this time and time again, that organizations that are willing to take the information that it's collecting about its customers and actually share it with their customers for mutual value are beginning to unlock significant value by doing that. We're also looking at participation and how that transforms existing business models.

So at beginning of the year, Miko started a program called Miko dads, where we actually work with enterprise government or organizations to look at regulatory environment, to look at the policy layer, to look at unified customer journeys and experiences that might move across the enterprise or across other enterprises. And then we look at a technology that could be enabled to create new value in that regard.

And what we find in time and time again, is by bringing the customer or the citizen into that in a, in a participating way, actually not only lowers the friction for services, but it increases time and time again, the willingness for customers to share information. So here are, I'm just gonna take you through and, and, and Kim eloquently describe some of this work a few minutes ago in this talk around what we are doing to bring various actors together unified by the customer in a way that would be very difficult for enterprise to do themselves.

So here's an example of opening a bank account for a debit card in less than eight minutes. Very, very simple onboarding where we leverage the bank together with the ID provided by the telco. Miko is explicitly enabling the customer to provide the information throughout the journey and then save that information back into a digital wallet that they can use themselves later on. Now the value of this is it's actually creating these cohesive ecosystems. It's creating and leveraging existing ID systems.

So it's not creating friction for the customer to have to move from silo silo and give up the same information. It's also enabling the attributes to be shared across those enterprise journeys, with transparency and for explicit purpose. And what it's also doing is building trust. And in that trust, it also creates mutual value. And at the end of this enterprise has something, the ecosystem has something, but more importantly, the customer has something. And so everybody benefits this next, a use case is very close to my heart.

This was inspired by you being in Paris a few months ago to see your customer. And I was robbed not once, but twice in the same day, which takes a particular kind of skill.

And, and I found myself on a public holiday in Australia, it was a public holiday. It was a long weekend. And you know, I had nothing, I had no identity. I had no documents.

I, I had no money. I, I had nothing. And yet I had a really, really strong relationship with my telco. I had a great credit history and although my bank was closed and it was gonna be two or three days until it opened, I had actually everything on my phone.

In fact, in my Miko account that it took for me to be able to transact, but there was actually no means there was, there was, there was a signal coming from me and there was nothing receiving at the other end. It was interesting when I went to see the police to fill out the report and I opened my Miko account and I gave them, you know, a copy of my driver's license and my passport and my credit cards. And I went through and he was going, where did this come from?

It's like, well, I created this. And he said, what for a moment like today? So one of the things that we we did is we turned this into a really simple experience to say the digital world, if you lose your physical, you know, whether it's your wallet or your phone, using the ability for you to access your identity and your credit history and working together with your ID provider and your bank, what is it that could be done in emergency situations?

We've actually been piloting this where real time you could use all of the various actors in that scenario to come together, to give you a one time pin number, to check where you are in a physical location, allow you access some emergency cash and resolve this. And we've been testing this in a lab environment. And the overwhelming response from customers has been, wow, that was fantastic. I was connected through conversational commerce directly to the bank. They asked me to authenticate myself, which was reasonable because I would want known a secure environment.

They were asking me to do that. But at the end of the day, they actually helped me solve a real problem really quickly. And that was really only possible through each of those actors in the ecosystem working together. So what we found through the labs, experiments and pilots have been running over the last year is that there is this, there is this consistent theme that is emerging, and that is that customers are actually willing to share more information if there is trust and transparency.

And if there is, if their personal agency is actually respected and also if they can see that there is the potential for net new value in the future, can that mean that I can reuse my information or you will allow me to take my identity from this scenario and scenario.

And so what we are starting to see is that by bringing the customer in, not only is it much faster to solve a lot of these onboarding journeys or these customer friction points, but as a result of that, there are benefits that were not visible to the enterprise or the government department or the education institution that may have been coming at it from a point of view of managing cost or solving a problem or responding to compliance. And so the result of that is, is actually more innovative.

One of the things that I'd like to share with you today, this is, this is brand new today as a result of the, the labs that we've been running for the last year and the things that we've learned, we've actually seen a new opportunity emerge for working with our enterprise partners. And that is what we call 360 by me. And so it's an opportunity to actually allow enterprises to create these customized journeys and experiences where the 360 view actually comes from the customer.

And we've spent a year validating this and, and looking at real customers in real situations, whether or not it's friction, because something's gone wrong, whether it's onboarding into a new service. And what we recognize is that the opportunity when you bring in consent and context to just solve one part of someone's life goes enormously towards building trust in another part.

And so one of the things that we would urge, if you are looking at this kind of work is solve something from a utility point of view and only ask for the data and information that's relevant to solve that problem, or from an insurance perspective or a banking perspective. And over time, 360 view will start to look like this as a result of the API of me.

As that trust continues, I will realize why it's relevant for me to take information from this part of my life and put it together with this part of my life and permission it to you for a very specific period of time for a very specific outcome. Now, that's great from a customer point of view, and you are thinking of your children right now, and the world that they'll grow up in the value of their identity and reputation.

And if you're thinking of data as an asset for them, and you think about it from a society in a great point of view is really important, but we all know that we go back to our day jobs as soon as we leave here. And so we recognize that there are burdens on us from a cost point of view or from a customer centricity point of view, or a compliance point of view. And the lovely thing about this approach is actually everybody wins. You bring all of those pieces together.

And I remember I worked in financial services for over a decade, and whenever we built a new product, we would say, how would we feel if somebody sold this to our mother, you know, is this the kind of product that you'd be comfortable, someone selling to your mother? And the question we ask ourselves at Miko every day is, is this actually something that you would want your children to go up with?

Is this the kind of world that you would like them to, to move through from an education point of view, to be able to go to a hospital and be empowered to bring their medical records and understand that it wasn't going to impact the negatively based on how they would share that information and they could move faster through an insurance claim. So one of the things that we are looking to do right now is start proving this out.

So if you are, if anyone in the room is interested in participating will have an alpha release of this in the next couple of months, this enterprise dashboard to start curating those journeys. And we're doing some very interesting work as to who and how we plug into different partnerships to make that possible. So we would love to hear from you if you'd like to do some of that work with us.

And I would like to leave you with one last thought around the API of me, we all know how important it is from an enterprise point of view, a government point of view, to have our customers on a dashboard, to be able to see them, to be able to understand what it is that they're looking for to provide services. But when you start to look at the future, the question is not gonna be whether or not customers are on our dashboard. It's going to be whether or not you as an organization, as an enterprise is actually on the dashboard of the individual. And I think this is the power of the API of me.

And one of the things that we'd love to see unlocked in the coming year two, as we move through these changes, and we start to see enormous value unlocked for both enterprise government, but more importantly for individuals. Thank.