22 08 16 14:11:55

What is consumer data?

Under Open Banking, consumer data refers to certain information held by an organisation (such as a bank or reciprocal data holder) that relates to a customer and is covered by Consumer Data Right (CDR) legislation. It includes, but is not limited to, contact information, the types of product(s) held by the consumer, account details, transaction history and loan repayment history.

Information on the banking products covered by CDR legislation, and the phased sharing of consumer data by authorised deposit-taking institutions (ADIs) and reciprocal data holders, is available from the Australian Competition and Consumer Commission (ACCC).

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