Tag: open banking

Frollo backs regulator’s warning on CDR compliance

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...

Efficiency of Open Banking system improving

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...

CDR benefits will be worth the five-year wait: Hume

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...

Banks get CDR privacy ‘bedrock’ tick from regulator

Posted on   |  by Joseph Brookes
Australia’s privacy watchdog found no areas of high privacy risk in an assessment of the Big Four banks’ Consumer Data Right policies and practices but did identify at least...

Data quality concerns surround open banking scheme

Posted on   |  by Joseph Brookes
Questions remain about the quality of data being used in Australia’s “world leading” consumer data portability scheme one year after it was launched, according to its newest entrant. Basiq,...

Treasury to open up Consumer Data Right

Posted on   |  by Joseph Brookes
Treasury is developing new rules for Australia’s Consumer Data Right which would significantly expand businesses’ access to consumer data, following criticism that the accreditation requirements to participate are too...

Industry bristles as open banking stutters

Posted on   |  by Joseph Brookes
Australia’s FinTech and neobank industry is growing frustrated at the slow pace and arduous requirements of the Consumer Data Right (CDR) – once heralded as a landmark reform –...