Why don't tech companies (including startups) share data with each other?

I have noticed an interesting trend in the Nigeria, where several companies need data but can’t access it because some other company is sitting on it. For example, Pay later needs savings information about someone who wants to borrow money, why can’t they approach Piggybank (or similar venture) for said data. Why do they have to deploy their own service?

This article suggests that even the government agency, N.I.T.D.A, doesn’t oppose the idea.

So I am back to my question, “Why don’t tech companies (including startups) share data with each other?”

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Perhaps because Data is money.

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With credit beruea or Xds one can access anybody’s credit/borrowing history to know IG it’s good or bad.

Credit beruea and xds has informations showing the amount the person borrowed, the duration and if the person has any bad loans.

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Hoarding data isn’t a competitive advantage, it’s the insight derived from said data that is valuable , usable and marketable.

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True. I share your opinion on this.

Is this like an open api like how N.I.B.S.S works with BVN or how third party car insurance checking works? Is it open to work with?

Do you mind sharing a link?

Because they are competitors. My friends own this company https://gtm-plus.com/. And they have a high level of security, cameras at the office and all that stuff to protect their information.