National Australia Bank has been slapped with the country’s largest ever fine under the consumer data sharing regime for failing to disclose credit limit information on four occasions. The...
Consumer Data Right
Posted on
| by Justin Hendry
Australia’s consumer data sharing regime will be simplified in a bid to reduce compliance costs for banks and energy providers while lifting uptake among consumers, under a series of...
Posted on
| by Sandy Plunkett
Here’s a philosophical question for the times: If a national economy-wide digital economy platform initiative is suffering a slow, tortured death – and no one notices – should it...
Posted on
| by Justin Hendry
Assistant Treasurer Stephen Jones cannot see a “big future” for fintechs and other businesses that continue to rely on screen scraping, declaring that the “world has moved on” as...
Posted on
| by Brandon How
Australia’s competition watchdog is set to increase enforcement activities against banks that feed poor data into the Consumer Data Right following consultation with data recipients. In particular, “significant shortcomings”...
Posted on
| by Brandon How
A more deliberate effort to maintain good data quality in the Consumer Data Right (CDR) scheme must be taken to increase participation and present a viable alternative to screen...
Posted on
| by Brandon How
The competition watchdog has issued its first infringement notice for an alleged breach of the Consumer Data Right to the Bank of Queensland. The Australian Competition and Consumer Commission...
Posted on
| by Brandon How
Australia’s largest accredited data recipient under the Consumer Data Right scheme has backed the regulator’s warning that it intends to take enforcement action to ensure compliance if the banks...
Posted on
| by Brandon How
New competition tsar Gina Cass-Gottlieb has outlined her priorities in the role, with a commitment to enforce the Consumer Data Right and protect consumer interests in the financial services...
Posted on
| by Brandon How
A report from FinTech firm Frollo has revealed an improvement in data sharing through Australia’s Open Banking system. Frollo operates an Open Banking platform that facilitates the transfer of...
Posted on
| by Jill Berry
When the Consumer Data Right (CDR) legislation came into effect, it was a win for consumers in the banking and finance sector. Consumers could control how their data was...
Posted on
| by Joseph Brookes
Consumers will begin to see benefits of Australia’s data portability by next year after a half-decade “build phase”, according to Minister for Financial Services and the Digital Economy Jane...
Posted on
| by Brandon How
Consumers will have greater direct control over their own customer data held by internet providers and phone companies after the Treasurer on Monday designated telecommunications as the third sector...
Posted on
| by Joseph Brookes
Australian FinTechs have welcomed the latest expansion of Australia’s data portability scheme which will allow companies to act on behalf of consumers in certain situations like making payments, opening...