We’re now well into the era of the Consumer Data Right (CDR), Australia’s Open Banking. The four major banks have been sharing their customers’ data using a standard set of APIs with customer consent since July first of this year. And now four accredited data recipients (three fintechs and one regional bank) are as well.
Ping Identity has been at the forefront of CDR compliance, with several banks using our solution to meet their CDR requirements, including one of the four majors. As we talk with tier 2 and tier 3 banks and larger fintechs, it’s obvious that project teams are racing to meet CDR compliance, battling the changing CDR specifications, their internal processes and environments, and a lack of resources skilled in the nitty-gritty of the CDR.