Regional Australia Bank achieves open banking accreditation

Regional Australia Bank achieves open banking accreditation

Regional Australia Bank is the first Accredited Data Recipient of Australia’s Consumer Data Right (CDR), as open banking trials continue to progress towards the scheduled July launch.

The ACCC, which is overseeing the testing, announced on Friday all participants have entered industry testing which began in September 2019.

So far six data recipients and all four data holders have now completed connectivity testing, meaning the data is passing from one party to another via APIs.

A managed rollout of the scheme — essentially a controlled go live process — is scheduled to take place in May and June so a robust system is up and running before the official launch of CDR on July 1, 2020.

“The proposed approach to managed rollout is based on progressively opening up the ecosystem in production with increasing levels of exposure to real customers and monitoring usage and issues at each stage as we prepare for full launch on 1 July,” Paul Franklin, executive general manager of the ACCC’s consumer data right division wrote.

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Source: Regional Australia Bank achieves open banking accreditation – Which-50

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