Sydney, 18 March 2021 – Cuscal announced today that it will become the latest member of the Australasia chapter of the Financial Data and Technology Association (FDATA). Membership of FDATA will provide Cuscal with valuable advisory, regulatory and industry engagement opportunities through FDATA’s deep knowledge of Open Finance, network of global experts and position on working groups, advisory panels and task forces.
As a Consumer Data Right (CDR) intermediary, Cuscal is committed to supporting data holders, consumers and data recipients to connect safely and securely to unlock the value of data. Cuscal’s Collaborative Data Exchange will manage the technicalities of the CDR for data holders and data recipients, leaving enterprise to focus on one of the most powerful opportunities in Australian commerce. Forward intelligence from FDATA on key policy matters, changes and trends from Australia and across the globe will form part of the Collaborative Data Exchange’s program of continuous development, helping clients to respond to changes in the CDR, including the emergence of new regulation, expansion of the CDR to new designated industries, and updates to data-standards.
Commenting on Cuscal’s membership of the regional chapter, Richard Prior, CEO of FDATA, said:
FDATA is delighted to welcome Cuscal to our worldwide community of members. As Open Finance proliferates across the globe, FDATA shares Cuscal’s goal of enabling the future, supporting the delivery of Open Finance for Australia, and the enormous potential and ambition enshrined in the CDR.
Kieran McKenna, Chief Risk Officer at Cuscal, commented:
We’re delighted to be joining FDATA Australasia at this critical moment during the implementation of Open Banking in Australia. Through our membership we’re looking forward to representing the interest of our clients and engaging with FDATA’s community of members, the government, regulators, policy makers and other stakeholders to help guide the formulation of policies relating to Open Banking and Open Finance in Australia.
The Financial Data and Technology Association (FDATA) is a not-for-profit representing fintechs operating in Open Banking and Open Finance. FDATA work with government, policy makers, and regulators to implement a fair and ethical competitive landscape that promotes competition, innovation, and better consumer outcomes.
For more than 50 years Cuscal has championed competition in banking and payments in Australia, leveraging our scale, banking knowledge, technical expertise and regulatory experience to deliver reliable and secure solutions that supports the flow of transactional data between customers and enterprises, ensuring fair access to the Australian payments and banking ecosystem.
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