Ping Identity launches updated sandbox for open banking in Australia

Monday 31 August 2020 12:42 CET | News

Ping Identity has announced an update to its Australia-based Consumer Data Right (CDR) sandbox environment enabling financial institutions to accelerate open banking implementation.

Under CDR rules, banks and fintechs must provide customers with greater access and control of their data. The aim is to make it easier for consumers to switch between products and services, and to encourage more innovation and competition amongst service providers. Ping Identity’s sandbox is a DevOps-driven environment that can be deployed in minutes. It now includes the major technical and user experience requirements of the latest CDR specifications, implementing updated capabilities to meet new compliance requirements for customers.

The new CDR versions establish the groundwork for concurrent consent, which enables a data holder to simultaneously have multiple data sharing arrangements with an individual customer. Previously, consumers had one consent record which needed to be overwritten if another arrangement was made.

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Keywords: Ping Identity, sandbox, Open Banking, Australia, Consumer Data Right, banks, fintech, financial institutions, CDR rules, data, DevOps, concurrent consent, data holder, data sharing
Categories: Banking & Fintech
Countries: Australia
This article is part of category

Banking & Fintech