The collaboration, which will initially run for two years, will build on their existing work together, helping policymakers to look at issues like poverty, the cost-of-living crisis and the value of early interventions in a new way.

Operating from the new Edinburgh Futures Institute, the two organisations will combine their areas of expertise to strengthen their shared commitment to public good.

Smart Data Foundry, a not-for-profit subsidiary of the University of Edinburgh, was founded to enrich lives by harnessing the power of financial data through research and insights, while Research Data Scotland is dedicated to simplifying access to public sector data, enabling research that enhances health and social wellbeing across the country. RDS is a partnership between leading Scottish universities and public bodies, and it is funded by the Scottish government.

Layla Robinson, chief partnership and strategy officer at RDS, said: “We are excited to have entered into a formal partnership with Smart Data Foundry and to explore how we will work together. Our organisations have lots of parallels – opening up systems to allow research to take place faster and acting in the interest for public good, for example. 

“The pandemic accelerated the expansion of our digital lives – so many services moved online, creating large amounts of data about spending habits and shopping behaviours. Securely accessing and researching this kind of anonymised banking data can help us better understand how we live. 

“These digital footprints – or smart data – could have real power if linked with public sector data. Linking them enables us to develop a more detailed picture of our lives and might enable us to look at links between poverty and chronic ill health, for example. This would allow policymaking to be made on increasingly accurate information and insights.”  

Both organisations will benefit equally from this collaborative venture, enhancing their ability to address complex challenges by combining health and financial data insights.

The partnership between RDS and SDF aims to formalise and strengthen their ongoing cooperation in key areas, including:

• Joint exploration opportunities for collaborative research and development projects
• Information sharing on relevant sector developments and public engagement
• Collaborative research and insights in areas of mutual interest, including financial and public sector data

The collaboration will focus on sharing best practices and exploring opportunities for joint service development whilst maintaining distinct areas of expertise in health and financial data research.

The partnership runs from 1 September 2024 to 31 August 2026, with a long-term vision for future collaboration.

Magdalena Getler, head of academic engagement at SDF, commented: “This partnership allows us to harness the potential of combining financial data from the private sector with public sector data. We are looking forward to collaborating on projects that merge data from these areas to gain valuable insights for research and innovation.

“The focus will be on increasing the discoverability of data for evidence, knowledge generation and ultimately insights and evidence-based policymaking. Key to this is providing a researcher-centred infrastructure and type of data and functionality that researchers need.”