This collaboration will enable Australians to download their transactions into a ‘secure cloud library’ that they own and access. They can then consent to sharing their data under digi.me’s bespoke consent access process. Businesses can go directly to the customers to request data, and receive a complete, normalised, private and secure financial data feed from the individuals using digi.me’s local API.
Through this deal, the partners seek to boost fintech innovation in Australia. Because the country has not really adopted open banking principles, it is being held back.
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