Tag: open banking

Timing couldn’t be better for Open Banking

Posted on   |  by Kristofer Rogers
At the recent AFR banking and wealth conference, held as a virtual event during these unprecedented times, ACCC chairman Rod Sims reasserted a commitment to keeping the July 1...

FinTech screen scraping scrap heats up

Posted on   |  by Denham Sadler
The landmark Parliamentary inquiry into the FinTech sector has again descended into a feud over the controversial practice of screen scraping, much to the chagrin of FinTech Australia. Screen...

FinTechs trying to shirk CDR rules

Posted on   |  by Denham Sadler
Current laws and regulations aren’t enough to stop FinTechs shirking the new Consumer Data Right rules, according to two major consumer groups. In a joint submission to the Select...

ANZ wants tiered system for CDR

Posted on   |  by Denham Sadler
Australia’s imminent open banking regime should include lower tiers of accreditation for data receivers and easier ways for third-parties to gain access to banking data, according to ANZ. The...

History repeats: Open banking delayed again

Posted on   |  by James Riley
It was a case of history repeating itself in the dying days of 2019, as a delay to the launch of open banking was announced on the last Friday...

Open banking trial FinTechs unveiled

Posted on   |  by Denham Sadler
Ten FinTechs have been selected to take part as guinea pigs in testing of the open banking scheme before its official launch at the start of next year. The...

Data rights delay as laws stranded

Posted on   |  by Denham Sadler
Government’s failure to pass the Consumer Data Right legislation before the May election could lead to further delays to the rollout of the open banking scheme. When both houses...

Data rights bill hits parliament

Posted on   |  by James Riley
Treasurer Josh Frydenberg has introduced draft Consumer Data Right laws to the Federal Parliament, A structural reform that he says will create competition as well as incentives for entrepreneurs...

Big banks warn on open banking

Posted on   |  by James Riley
Data security risks surrounding Australia’s open banking regime are “significantly higher” than the federal government believes, according to the big four banks. In a new submission to the government’s...