Adatree becomes data gateway for Australian companies

Thursday 20 January 2022 14:45 CET | News

Adatree, a data intermediary fintech at the forefront of Open Banking, has become a gateway for companies wishing to access secure data in Australia.

The new Consumer Data Right (CDR) access model is part of the Government’s recent amendments to the CDR regulations in October 2021 to increase participation in Open Banking. It allows unrestricted accredited data recipients, with stringent security practices, like Adatree, to act as principal to other companies wanting to access data, with the other party becoming the ‘representative’. 

The first business in Australia to be a CDR representative is Sherlok – an automated repricing and refinancing tool. Powered by AI technology, Sherlok helps brokers retain clients by monitoring clients’ interest rates against other lenders, identifying those at risk of leaving a broker, then refinancing their loans to a lower interest rate on behalf of the broker to improve customer retention. 

To enable the next phase of its growth, Sherlok has entered the CDR to receive real-time and consented transaction data. In partnership with Adatree, it will give brokers mortgage analytics and insights to arm them with the ability to make instant credit decisions for clients via a single-click refinancing solution. 

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Keywords: data sharing, data protection, Open Banking, financial data
Categories: Fraud & Financial Crime
Countries: Australia
This article is part of category

Fraud & Financial Crime

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