OPen Banking

Australia’s Customer Data Right (CDR) legislation is expected to pass in the first quarter of 2019 and from July 1 the big four banks will be required to publicly share product data about credit and debit cards, deposit accounts and transaction accounts. However the banks now have until February 2020

Global accelerator program Startupbootcamp is launching a new fintech accelerator backed by NAB, Bupa, YBF, Deloitte, AWS, Cisco and Capgemini. Based in Melbourne, the new accelerator will focus on financial health and wellbeing. Along with industry partners, selected startups will be looking at the intersection between open banking, consumer data

AWS Werner Vogels Keynote at The Venetian, Las Vegas, NV on Thursday, Nov. 29, 2018.

The National Australia Bank is all in on public cloud. NAB will move at least 35 per cent of its IT workloads to a public cloud within the next two years. The shift will improve the bank’s innovation and agility, and better prepare it for open banking, according to NAB

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Most large banks said that providing open banking services for their commercial clients is a key strategic initiative in their digital transformation programs, and many expect open banking to help them achieve double-digit revenue growth, according to a global research report by Accenture. Open banking enables financial services commercial customers

ANZ expects the impact of open banking on Australia’s financial industry will be profound. So much so that the bank is preparing to fundamentally change its business model. But it had to rely on regulators to get the conversation started. “From a large bank perspective, I think open banking helps

Australia’s newest digital bank, Up, believes it can thrive in an already saturated market where the big four banks are well entrenched. According to the company’s founders, to attract notoriously sticky banking customers Up plans to double down on its agility and customer experience. Backed by Bendigo Bank and Adelaide

Australia’s moves towards open banking and a Consumer Data Right are being slowed by the country’s largest banks which refuse to go beyond the minimum requirements of regulators, according to Gerd Schenkel, founder of Ubank and Telstra Digital. According to Schenkel, now managing director BGA Digital, the banks are favouring

The introduction of Australia’s Open Banking regulations next year could pose a threat to traditional banks by allowing consumers to access their data and move it to new competitors more easily. But trust remains a key issue for insurgents and incumbents alike. According to a survey of more than 2,000

Almost a third of Australians are willing to support data sharing in an open banking environment, but only if privacy and security concerns are addressed, according to research from Unisys Corporation into Australia’s banking industry. The research also found Australian consumers are less willing than those in other Asia Pacific countries

The federal government has set aside $44.6 million over the next four years for the new Consumer Data Right (CDR) scheme, which will underpin Australia’s shift to open banking. CDR aims to give Australian consumers greater control of their data, allowing them to more easily share transaction, usage and product