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An ‘Australian Death Check’ is about to be a thing

By Grace Ormsby · March 06 2020
Reading:
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egg

Borrow

An ‘Australian Death Check’ is about to be a thing

By Grace Ormsby
March 06 2020
Reading:
egg
egg
coffin

An ‘Australian Death Check’ is about to be a thing

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By Grace Ormsby · March 06 2020
Reading:
egg
egg
coffin

The fallout from the banking royal commission is continuing, with the launch of an “Australian Death Check” — or ADC — being heralded as a way for the financial services sector to better manage consumer data.

According to GBG, a global technology specialist who is acting as a data service broker for the new initiative, the “Australian Death Check” will be a new data cleansing service that will match customer data with more than 2.5 million government registry death records on a daily basis.

The service is a joint initiative from state and territory registries and will provide “the only official source of death data in Australia”.

Trials for the service are currently underway thanks to Queensland's Registry of Birth, Deaths and Marriages as part of a nationwide soft launch, prior to the ADC’s launch to the wider market later this year.

GBG has noted that in the face of an ageing population, Australian businesses will need to remain proactive in ensuring customer data remains accurate.

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The company’s regional general manager Australia, Carol Chris, has commented on the “critical” nature of ensuring customer data is accurate and up to date, particularly with respect to deceased persons.

This is also important in light of a regulatory crackdown on the practice of charging fees for no service to deceased persons, a practice that was uncovered in, and consequently condemned by, the banking royal commission.

“The damage that can ensue from transacting with or marketing to a deceased person can be devastating to the family left behind, as well as result in significant brand and reputational damage,” she flagged.

“To date, death data in Australia has lacked a single source of truth, but the ADC will close this gap in the market, making this data easily accessible and always up to date.”

Speaking to the companies that ADC could assist in this regard, Ms Chris considered that as well as clearly being “the right thing to do, cleansing and decluttering your database can also help businesses to significantly improve the customer experience, reduce operational costs by eliminating waste, and reduce the financial impact of identity fraud and money laundering”.

An ‘Australian Death Check’ is about to be a thing
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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

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About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

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