Search Result for “open banking”

The start of Australia’s open banking regime has been pushed from February to July – giving the banks extra time to get ready for the data sharing scheme. In episode one of Which-50’s Minicast series Joseph Brookes explains why ACCC has extended the deadlines – and why it was predictable.

The implementation of Australia’s Consumer Data Right – the data portability scheme which will enable Open Banking – has been delayed until July 2020, giving banks an additional four months to prepare.  The ACCC, which had been planning to begin the scheme in February following the current testing phase, announced

Technology is evolving much faster than enterprises are able to adapt. This is true not just in banking, but across industry. These days banks want a technology partner that can not only do the integration but also recognise that integration is about more than the data exchange — it also

UBank has tapped fintech Basiq to help it prepare for open banking. The first phase of the partnership is an update to the bank’s in-app budget tool which uses machine learning to provide insights into consumers’ spending habits.  By next year, the partnership will offer customers predictions of future spending

The scheduled launch of Australia’s open banking regime is just two months away, however new research shows three-quarters of Australians haven’t heard of the incoming data portability scheme and half are concerned about the security of their data. Open Banking is a government and regulator-led scheme which mandates banks share

Regulators today revealed Australia’s upcoming Open Banking regime, currently in a testing phase, has missed several milestones and is under pressure to meet its February 2020 go live date. Open Banking is the first use case of Australia’s new Consumer Data Right, a data portability scheme designed to encourage innovation

Money is pouring into Australia’s fintech sector as regulatory changes and digitally savvy consumers look set to open up the industry. A new report from Pegasystems, a global software company built on decades of success with large American banks, suggests Open Banking in particular could be a breakout moment for Australia’s growing cohort of

Open banking start-up Basiq has concluded its Series A funding, securing investment from Salesforce Ventures, NAB Ventures and Westpac’s Reinventure.   The fintech platform provides access and insights into financial data that it says enables organisations to take advantage of open banking via a consent-driven model that can obtain customer

On Wednesday last week, 10 financial services companies gathered in a room in Melbourne for a meeting with Australia’s big four banks. They, along with the national competition regulator, discussed how they could share customers’ financial data with each other to improve products and services, and stimulate competition and innovation

Open banking is being rolled out across Australia over the next year as a response to the lack of competition in Australia’s banking sector. The scheme, which will force banks to release customer data, is potentially a serious threat to Australia’s incumbents. The Big Four, however, also have a golden