consumer data right Archives

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Australia’s CDR-enabled digital economy has been strangled

Remember the optimism around the Open Banking revolution and Australia’s new digital data economy opportunity a few years back? It was enthusiastic but fleeting, having bubbled-up somewhere after the...

‘The world has moved on’: Screen scraping regulation looms

31 August 2023 | by Justin Hendry

Assistant Treasurer Stephen Jones cannot see a “big future” for fintechs and other businesses that continue to rely on screen scraping, declaring that the “world has moved on” as...

Missing Consumer Data Right roadmap creating ‘uncertainty’

30 May 2023 | by Justin Hendry

A lack of visibility over the future direction of the Consumer Data Right is creating uncertainty, leading to renewed calls from industry for a long-promised roadmap to provide clarity...

Stronger enforcement on CDR data incoming: ACCC

6 April 2023 | by Brandon How

Australia’s competition watchdog is set to increase enforcement activities against banks that feed poor data into the Consumer Data Right following consultation with data recipients. In particular, “significant shortcomings”...

Second review of $1.3bn MMI grants program on the cards

23 March 2023 | by Justin Hendry

Australia’s national auditor is contemplating a review of the former Morrison government’s $1.3 billion Modern Manufacturing Initiative despite an earlier internal review commissioned by Labor clearing the grant selections....

Frollo backs regulator’s warning on CDR compliance

21 June 2022 | by Brandon How

Australia’s largest accredited data recipient under the Consumer Data Right scheme has backed the regulator’s warning that it intends to take enforcement action to ensure compliance if the banks...

New ACCC chair Gina Cass-Gottlieb to focus on CDR and digital wallets

1 June 2022 | by Brandon How

New competition tsar Gina Cass-Gottlieb has outlined her priorities in the role, with a commitment to enforce the Consumer Data Right and protect consumer interests in the financial services...

Efficiency of Open Banking system improving

5 April 2022 | by Brandon How

A report from FinTech firm Frollo has revealed an improvement in data sharing through Australia’s Open Banking system. Frollo operates an Open Banking platform that facilitates the transfer of...

Non-bank lenders to join CDR under first ‘open finance’ expansion

16 March 2022 | by Joseph Brookes

Pay-day loan companies and other non-bank lenders will be added to Australia’s data portability scheme under the federal government’s plan to expand the Consumer Data Right across the finance...

CDR benefits will be worth the five-year wait: Hume

24 February 2022 | by Joseph Brookes

Consumers will begin to see benefits of Australia’s data portability by next year after a half-decade “build phase”, according to Minister for Financial Services and the Digital Economy Jane...

Tag: consumer data right

Australia’s CDR-enabled digital economy has been strangled

‘The world has moved on’: Screen scraping regulation looms

Missing Consumer Data Right roadmap creating ‘uncertainty’

Stronger enforcement on CDR data incoming: ACCC

Second review of $1.3bn MMI grants program on the cards

Frollo backs regulator’s warning on CDR compliance

New ACCC chair Gina Cass-Gottlieb to focus on CDR and digital wallets

Efficiency of Open Banking system improving

Non-bank lenders to join CDR under first ‘open finance’ expansion

CDR benefits will be worth the five-year wait: Hume

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Tag: consumer data right