Digital transformation best practice for Australian businesses

Open banking creates new connections in finance and beyond

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Open banking creates new connections in finance and beyond

When the first phase of the consumer data right (CDR) went live in July 2020, Australian Banking Association chief executive Anna Bligh called it a “watershed moment for competition in the banking industry”.

Ostensibly, that would be because customers can now request certain data that banks collect about them be shared with fintechs or other banks that have more attractive financial products.

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