Government ramps up open banking push
The Consumer Data Right appeared to have lost the interest of the government despite its huge promise. Now it has a clear agenda, and banks and fintechs are on notice.
For something its critics, including the major bank lobby, say is dead in the water, the Consumer Data Right (CDR) continues to bring in the crowds. Those crowds now have tangible cause for optimism.
FinTech Australia’s recent CDR Summit was a sellout, and the Australian Banking Association decided it was a good idea to plant a story on the same day, claiming the CDR was a waste of time and money.
Last Friday, CEDA hosted a function on the CDR addressed by Stephen Jones, Assistant Treasurer and Minister for Financial Services and the person running the CDR agenda — and it too was a sellout.
But this time the audience got more than bemusement at ambush marketing by a vested interest. Jones actually laid out a tangible set of measures.
