New open banking regulations go into effect in Australia on July 1. The goal of Frollo's API is to help data holders comply with new requirements without hassle. Users can leverage the API regardless of who their banking partner is.
The Australian Competition and Consumer Commission (ACCC) will roll out its open banking standards in phases, the first going into effect on July 1. The first step for banks is making products available to consumers via open banking APIs. That's where Frollo comes in. Its API is both open banking compliant, and future-proofed for continued compliance.
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