Heavy lifting needed on data sharing, but not by banks


Sandy Plunkett
Contributor

Here’s a philosophical question for the times: If a national economy-wide digital economy platform initiative is suffering a slow, tortured death – and no one notices – should it be quietly and quickly euthanised?

This is the question being contemplated – but not publicly voiced – about the stalled Open Banking and data economy platform initiative launched five years ago amid some fanfare by the Morrison government.

The initiative was all about leveraging the Consumer Data Right (CDR) legislative, regulatory and standards framework, enacted in 2019 and designed to give consumers more control over their personal data.

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