The Consumer Data Right (CDR) introduced Australia’s framework for open banking. But it was only the start of Australia’s move towards wider developments in the data economy,
The Future Directions for the Consumer Data Right report, published at the end of 2020, presents the results of an extensive consultation into the next steps. The report makes 100 recommendations, spread over nine chapters and more than 200 pages.
For those who don’t have time to read the whole report, Jamie Leach of Open Data Australia and FDATA A&NZ, is providing a helpful chapter-by-chapter breakdown. We’ll add new links here as each chapter becomes available.
Chapter 1: Introduction to the Inquiry sets the scene, with the background to the inquiry and the four key principles underlying the CDR.
Taking CDR further:
Chapter 2: Future Directions for the Consumer Data Right looks at the different ways CDR could be expanded – further empowering consumers, broadening to sectors beyond banking, building an integrated ecosystem and developing international co-operation.
Chapter 3: Expanding the Consumer Data Right to support switching examines the difference between read access (‘data sharing’) and write access (‘action initiation’), and considers how to create an environment that encourages switching.