Consumer Data Right

Android users can get their first taste of Australia’s new data portability scheme from today following an update to Frollo’s mobile application to add open banking data. The Sydney fintech’s app received a major update for Android to incorporate real time transaction insights using Open Banking account linking. The Apple

Open Banking ramped up in Australia this month with the inclusion of  consumer data held by the big four banks, the first phase to involve actual consumers’ data. The industry has warned, however, uptake by consumers will take years more and uncertainty about the rules is holding back the new

piggy bank

Regional Australia Bank is using Microsoft’s Azure cloud to automate and streamline its loan applications under Open Banking, and plans to also share its customer data with third party fintechs by next year. The customer owned bank became the first Accredited Data Recipient of Australia’s Consumer Data Right in March,

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.

Consumer Data Right intermediaries will now be able to collect consumer data on behalf of accredited third party data recipients, with consumer consent, following rule changes by the regulator today. The changes, which come into effect October 2nd, should make it easier for fintechs to access the data by removing

86 400 today announced what it says is the first consumer facing feature to use open banking data in Australia. The neobank’s new savings account comparison tool pulls the saving interest rates of competitors into a “real time” comparison graph by using the product data some banks are now mandated

Frollo, a financial management software company, is the first fintech and second company overall to receive accreditation as a data recipient in Australia’s upcoming Consumer Data Right system. On Friday the ACCC announced Frollo will join Regional Australia Bank as accredited data recipients in the data portability scheme set to

Australia’s competition and privacy regulators today released their compliance and enforcement policy for the upcoming Consumer Data Right, opting for a “strategic risk-based” approach that will be updated regularly. In a joint announcement, the ACCC and the Office of The Australian Information Commissioner revealed it will have the right to

Open Banking is scheduled to begin in July but its benefits won’t be felt by most consumers for at least two more years, according to Robert Bell, CEO of 86 400, a neobank involved in the current testing phase. Bell told Which-50 that 86 400, which already uses customers’ external

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