Regional Australia Bank announced it is the first non Big Four bank to meet compliance standards of Australia’s new open banking system following the integration and deployment of a Consumer Data Right solution from Biza.io. The bank integrated the cloud-based Platform as a Service provider’s solution in just three months.
Australian open banking platform company Basiq today announced a partnership with global integration vendor Mulesoft to offer a compliance product for the data portability scheme. Basiq will become an official partner of the Salesforce owned company. Under open banking, Australian banks must share customers’ data with other organisations in a
Ping Identity today announced the launch of a Consumer Data Right (CDR) Integration Kit. The enterprise identity management company says it will enable Australian banks and fintech company data holders to align with CDR regulatory requirements while also simplifying data recipient functionality. Under CDR rules, financial institutions must provide customers
Financial management software company Frollo today announced its app is the first to integrate data from Australia’s Consumer Data Right. Elsewhere, global accounting software giant Intuit joins Frollo as one of three accredited CDR data recipients, and says it is working to incorporate bank feeds into its software in Australia.
The introduction of the consumer data right, which underpins open banking will make it easier for consumers to switch banks, but that will not be without cost to incumbents and insurgents alike. That’s the view of Michael Ewald, director of engineering and consulting APAC Contino, an Enterprise DevOps and Cloud
Fintechs and banks can now apply for accreditation as a data recipient within Australia’s Consumer Data Right (CDR) regime following the launch of the underlying IT infrastructure that enables the data sharing environment. ACCC’s Consumer Data Right Register and Accreditation Application Platform (RAAP) is now live, ahead of the July
The rollout of Australia’s new Consumer Data Right (CDR) has been delayed several times already. And there are now growing concerns that COVID-19 could push the launch date back even further as workers are forced to adapt to remote working and business uncertainty. But the latest update from the ACCC,
Regional Australia Bank is the first Accredited Data Recipient of Australia’s Consumer Data Right (CDR), as open banking trials continue to progress towards the scheduled July launch. The ACCC, which is overseeing the testing, announced on Friday all participants have entered industry testing which began in September 2019. So far
The debate over the future of screen scraping in Australia is being complicated by the slow roll out of Australia’s open banking regime, a data sharing system which would make the practice obsolete. Screen scraping occurs when consumers provide their banking username and password to a third party, such as
Australia’s open banking regime begins in July but Australian businesses are already being urged to consider how the data sharing reform will impact them, regardless of their industry. That’s because the Consumer Data Right, the legislation which underpins open banking, is an economy-wide consumer and competition reform which will have