Data Voices Panel explores trust, transparency and the use of sensitive financial data

How can financial data be used for public good while maintaining public trust?

This was the central question explored during the second session of Smart Data Foundry’s Data Voices public panel on 28th May, where members from across Great Britain came together to discuss the opportunities, risks and ethical challenges of using financial data for research.

Building on our first Data Voices session, the discussion focused on trust, transparency and the safeguards that underpin responsible data use. Patricia Ruddy, Head of Information Governance, explained how Smart Data Foundry assesses research applications, protects sensitive information and ensures that projects deliver public benefit through robust governance processes.

The second half of the session, hosted by Charlotte Binstead, Head of Marketing & Comms and Oliver Berry, Research Engagement, challenged panel members with a real-world case study on gambling data. While participants recognised the potential for research to better understand financial vulnerability and reduce harm, they also raised important questions about privacy, consent, commercial misuse and where the boundaries should lie.

One of the strongest messages from the discussion was that public support for using sensitive financial data depends on more than legal compliance. Panel members consistently highlighted the importance of transparency, accountability and the demonstration of a clear public benefit.

When asked what mattered most in deciding whether gambling data should be used, participants identified strong privacy protections as their top priority. They also emphasised the need for clear public benefit, transparency about who is using the data and why, safeguards against commercial misuse, and opportunities for the public to question or challenge how the data is used.

The session reinforced the value of involving the public in conversations about responsible data use. By bringing together people with different backgrounds and perspectives, the Data Voices panel continues to provide practical insight that helps shape Smart Data Foundry’s approach to data governance, research and public engagement.,

Read the full Session Two report to explore the discussion and key findings in more detail.