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Consumer Data Right

ACCC issues first fine for alleged CDR breach

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...

Frollo backs regulator’s warning on CDR compliance

21 June 2022 | 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

5 April 2022 | 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...

Non-bank lenders to join CDR under first ‘open finance’ expansion

16 March 2022 | by Joseph Brookes

Pay-day loan companies and other non-bank lenders will be added to Australia’s data portability scheme under the federal government’s plan to expand the Consumer Data Right across the finance...

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

24 February 2022 | 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...

Aussie FinTechs ‘relieved and pleased’ as govt accepts CDR expansion

21 December 2021 | 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...

Banks get CDR privacy ‘bedrock’ tick from regulator

23 November 2021 | 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

5 July 2021 | 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

4 May 2021 | 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

16 April 2021 | 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 –...

Tag: open banking

ACCC issues first fine for alleged CDR breach

Frollo backs regulator’s warning on CDR compliance

Efficiency of Open Banking system improving

Non-bank lenders to join CDR under first ‘open finance’ expansion

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

Aussie FinTechs ‘relieved and pleased’ as govt accepts CDR expansion

Banks get CDR privacy ‘bedrock’ tick from regulator

Data quality concerns surround open banking scheme

Treasury to open up Consumer Data Right

Industry bristles as open banking stutters

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Tag: open banking