19 09 21 23:02:32

Open Banking

What is Open Banking?

Open Banking is the application of the Consumer Data Right (CDR) in the banking sector. Under Open Banking, consumers and businesses will be able to consent that the d...

What is the Consumer Data Right (CDR)?

The Consumer Data Right (CDR) is legislation that the Federal Government is introducing to provide consumers, and later businesses, with improved access to and rights ...

How to get ready for Open Banking?

Cuscal, KPMG and King & Wood Mallesons explore Open Banking in a white paper and also held a webcast on the 25 March 2019 that is available to watch.

How is Open Banking different to Open Data?

Open Banking relates to private data that contain identifiable information. A consumer or business can choose to share this private data with accredited recipients for...

When will Open Banking commence?

Open Banking will be introduced in phases. On 1 July 2019 the Big Four Banks (ANZ, Commonwealth Bank of Australia, NAB and Westpac) will provide access to product data...

Where can I get more information about the Consumer Data Right and Open Banking?

As the lead regulator, with the power to adjust timeframes if necessary, the Australian Competition and Consumer Commission (ACCC) publishes the latest information abo...

What sectors will be covered by the Consumer Data Right (CDR)?

The Consumer Data Right (CDR) will initially be implemented in the banking sector, followed by the energy and telecommunications sector at a later date. It is anticipa...

Which banks and product categories will be covered by Open Banking?

All Authorised Deposit-taking Institutions (ADIs), other than branches of foreign banks, will be subject to the Consumer Data Right (CDR). The Consumer Data Right will...