The UK government launched its Smart Data Review on 28
September 2018 (Review). The Review will look at how technology,
such as online comparison tools and open banking, can be used to
make it easier for consumers to get good deals on essential
services and put an end to consumers paying unjustifiable
'loyalty penalties' for staying with their service
providers rather than switching.
Background to the Review
The government's Modernising Consumer Markets
green paper highlighted the challenges that consumers face in
regulated markets, such as financial services, energy and telecoms.
It recognised that consumers often struggle to stay on top of their
contracts for essential services, find it difficult to identify the
best deal and end up paying considerably more by not switching.
