Tag: consumer data right

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Open banking’s majestically slow start

Australia’s Consumer Data Right scheme has received a further $20 million after the opening banking regime’s slow start this month, with only one FinTech signed up as a data...

The unrealised potential of data intermediaries

Posted on   |  by Ross Sharrott
The delay to allowing data intermediaries to fully participate in the Consumer Data Right (CDR) will significantly curtail the effectiveness of open banking in Australia and the creation of...

Consumer Data Right gets its road rules

Posted on   |  by Denham Sadler
The privacy and competition watchdogs have outlined how they plan to enforce the rules and laws surrounding the Consumer Data Right, which will be launched into the banking sector...

Timing couldn’t be better for Open Banking

Posted on   |  by Kristofer Rogers
At the recent AFR banking and wealth conference, held as a virtual event during these unprecedented times, ACCC chairman Rod Sims reasserted a commitment to keeping the July 1...

FinTech inquiry pivots to COVID-19 response

Posted on   |  by Denham Sadler
The decision to delay the landmark Parliamentary inquiry into FinTech and reopen submission to address COVID-19 is “dangerous” and risks taking the momentum out of the government’s response to...

Data rights on track for July launch

Posted on   |  by James Riley
There has never been a more important time to expedite digital innovation across the economy according to competition tsar chief Rod Sims, who says the ACCC will keep its...

FinTech screen scraping scrap heats up

Posted on   |  by Denham Sadler
The landmark Parliamentary inquiry into the FinTech sector has again descended into a feud over the controversial practice of screen scraping, much to the chagrin of FinTech Australia. Screen...

Second CDR inquiry is ‘premature’

Posted on   |  by Denham Sadler
A new government inquiry looking at expanding the Consumer Data Right before the scheme had actually launched is “premature”, according to the Financial Rights Legal Centre. Treasurer Josh Frydenberg...

FinTechs trying to shirk CDR rules

Posted on   |  by Denham Sadler
Current laws and regulations aren’t enough to stop FinTechs shirking the new Consumer Data Right rules, according to two major consumer groups. In a joint submission to the Select...

ANZ wants tiered system for CDR

Posted on   |  by Denham Sadler
Australia’s imminent open banking regime should include lower tiers of accreditation for data receivers and easier ways for third-parties to gain access to banking data, according to ANZ. The...