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Data

Sarah Simpkins

The regulators have told the fintech Senate committee they do not feel a need to block firms from accessing banking data through screen scraping, despite objections from major finance institutions.

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Grace Ormsby

The consumer data right (CDR) rules have come into effect, marking a milestone in the progress of Australia’s open banking regime.

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Sarah Simpkins

Investment app Raiz Invest has blasted the open banking regime and pushed for an overhaul of regulatory processes, saying the measures have stifled competition in favor of the major banks.

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Sarah Simpkins

The Morrison government has indicated it will be probing the Consumer Data Right, looking over factors such as third parties being granted the ability to initiate payments.

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Sarah Simpkins

Testing for the new open banking regime will not be completed by its original planned date of February, with the ACCC delaying the deadline for the big four to share consumer data to July.

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