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 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

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

Something a little different for our final cover story of the decade. We asked Which-50’s lead writers to tell ‘the story behind the story’ that most resonated with them this year.  The four they chose are snapshots of the massive transformations which are underway in businesses and society—and they represent

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

Australia’s energy sector is set to be shaken up by the same data portability regime currently disrupting the country’s banking industry. Built to empower consumers through access to their data, Australia’s Consumer Data Right brings with it new challenges and opportunities to a sector already in flux. Currently, a mix

Australia’s growing cohort of neobanks still face a persistent challenge around awareness and trust, despite millions of consumers being unhappy with major financial institutions, according to new research from Nielsen. But Nielsen’s data, based survey of consumers over the last three financial years, suggests one in two consumers are open

Westpac branch

Westpac today announced the launch of its “Data Driven Experience Platform”, a customer insights and analytics hub which pulls data from across Westpac Group. The bank says the hub will help propel its digital push and prepare it for the upcoming open banking regime. The platform was co-designed and backed

Depending on what type of bank a consumer uses – major, regional, mutual or neobank – they have varying levels of trust according to a new report from Deloitte.  The report, Open Banking: Switch or Stick? Insights into customer switching behaviour and trust shows the differences in trust between major

Westpac CEO Brian Hartzer says the bank needs to do a better job when it comes to getting its customers to use the digital innovations they have built.  Speaking yesterday during a panel at IBM’s Cloud Innovation Exchange in Sydney, Hartzer said the bank had introduced more than 100 new