Global banking giant HSBC has avoided a hefty fine despite allegedly sending inaccurate and incomplete data through Australia’s budding economy-wide data sharing scheme. The bank paid penalties of $33,000...
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...
Remember the optimism around the Open Banking revolution and Australia’s new digital data economy opportunity a few years back? It was enthusiastic but fleeting, having bubbled-up somewhere after the...
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...
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”...
Australia’s national auditor is contemplating a review of the former Morrison government’s $1.3 billion Modern Manufacturing Initiative despite an earlier internal review commissioned by Labor clearing the grant selections....
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...
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...
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...
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...