Illion Open Data and Credit Simple become CDR recipients

Illion’s bank statements and data provider and its credit reporting company have been made accredited data recipients under the Consumer Data Right.

Both illion Open Data Solutions (ODS) and Credit Simple have been accredited by the Australian Competition and Consumer Commission (ACCC) as data recipients under the Consumer Data Right (CDR).

The CDR, part of the open banking regime, enables consumers to provide accredited recipients with access to their data.

Currently, CDR is only operating for customers of the four major banks, who can share their banking data from a range of personal accounts (for example, savings accounts and term deposits) to accredited data recipients.

The regime will extend to big four banking data from home loans and personal loans from November 2020.

Data from joint accounts, closed accounts, direct debits, scheduled payments and payees will also be available in due course.

To read more, please click on the link below…

Source: Illion Open Data and Credit Simple become CDR recipients – Mortgage Business