Frollo hits 1,000,000 CDR (Open Banking) API calls
By Gareth Gumbley, Founder & CEO – Frollo
1,000,000 CDR (Open Banking) API calls. It’s a big milestone, not just for Frollo but for Australian consumer finance. We’re proud to be one of the leaders in the Consumer Data Right ecosystem, bringing open banking to consumers and businesses through our B2C app and technology solutions.
Since we launched with CDR on 1 July 2020 we’ve learned a lot. We’ve seen the incredible speed in both accounts linking and data refreshing and more importantly we see this has a positive impact on user engagement and the frequency with which users open our app.
When we compare with traditional ways of account linking, CDR increases conversion: more people link their accounts with a longer consent period.
After almost two months of a managed roll-out, we’re excited to start scaling up. As more businesses launch their CDR use cases in the market, we’ll start to see more consumer benefits. In 2 years time 1,000,000, CDR API calls will seem like a small number! The UK was 1.9m API calls in the first month and is now up to almost 500m in July 2020.
If CDR data is of interest to you, feel free to contact us today and learn about our open banking compete solutions like our CDR Gateway, we can really accelerate the implementation of your use cases.
