22 07 02 21:16:33

What is Open Banking?

Open Banking is the first application of the Consumer Data Right (CDR) and applies to the banking sector. Under Open Banking, consumers and businesses will be able to consent that the data held about them is shared with accredited recipients for the purpose that the consumer or business has authorised.

For more about the CDR and Open Banking visit the Australian Competition and Consumer Commission (ACCC).

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