Aussie banks dragged into the 'open source' era via GitHub

Financial policy making is getting the open source tech treatment, courtesy of Data61.

The use of GitHub to manage the development of open banking technical standards represents a significant innovation in Australian policy making.

GitHub, which is used by 28 million software developers around the world, was bought by Microsoft in June for $US7.5 billion ($10.5 billion).

The open banking Data Standards Body, which is being run by the CSIRO’s Data61 unit, is using the online service to manage feedback and comments for the technical standards that will govern the movement of data in the new economy. All decision proposals and final decisions for the open banking standards will be published on GitHub.

Like making sausages, the innards of rule-making processes to give effect to legislation isn’t something all customers will want to know about. But for policy wonks – and those who will be impacted by new laws, which, in the case of open banking, are the big four banks – the open forum on GitHub represents an intriguing experiment.

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Source: Aussie banks dragged into the ‘open source’ era via GitHub | afr.com