The ACCC is seeking input on the best way to allow intermediaries to use CDR data, which will provide utility to consumers and assist uptake of the data portability scheme, while ensuring the privacy and security of CDR data.
The newly legislated Consumer Data Right (CDR) will allow consumers to access particular data and to direct a business to securely transfer that data to an accredited data recipient.
The ACCC released a consultation paper on December 23 on how to best facilitate data access to third parties who don’t have CDR accreditation but can still provide useful services.
For example, these intermediaries could assist in the collection of CDR data or offer ‘end-to-end’ services for the collection and use of CDR data to assist an accredited person to provide goods or services to consumers.
The ACCC, which is responsible for designing the CDR rules, said it may be important for the uptake of CDR to allow, in some circumstances, the disclosure by data recipients of CDR data to non-accredited persons such as financial counsellors and accountants.
CDR will first be applied to the financial services sector, where it is known as open banking, and later the utility and telco sectors.
The paper states, “The ACCC understands that there are a range of innovative business models that intend to operate in the CDR regime, including software-as-a-service or platform-as-a-service providers. These business models include those that may assist in or facilitate the collection of CDR data and those that may offer ‘end-to-end’ services that collect and use CDR data. ”
The consultation paper raised the possibility of introducing a lower tier of accreditation for intermediaries to participate in the ecosystem, that allows them to collect CDR data on behalf of a data recipient, if they can manage risks associated with the data recipient collecting, storing or using CDR data.
The rules under development would determine what obligations intermediaries should be required to meet and the appropriate level of transparency for consumers.
Interested parties have until 3 February 2020 to provide submissions in response to this consultation paper.
Submissions will inform the development of version 2 of the CDR rules on which the ACCC expects to consult in March 2020.