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After an initial period of extreme uncertainty, the rhetoric around the Australian property market appears to have shifted into a new phase in response to the ongoing coronavirus pandemic.

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On this episode of The nestegg Podcast, host Grace Ormsby is joined by the founder and CEO of Upside Realty, Adam Rigby, to delve into how COVID-19 has been affecting different demographics within the property sector, including renters, landlords, investors and retirees.

Adam touches on the pros and cons of potentially removing stamp duty, his predictions for marketplace trends over the coming months, and the importance of picking quality over timing when considering an investment.

Thanks Adam, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Upside Realty are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Tuesday, 02 June 2020

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Borrow

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

By Grace Ormsby · March 06 2020

Reading:

Borrow

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

By Grace Ormsby
March 06 2020

Reading:

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

By Grace Ormsby · March 06 2020

Reading:

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.

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”.

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About the author

Grace Ormsby

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.