Heritage, Ernst & Young to offer Open Banking solution

Friday 19 February 2021 12:27 CET | News

Australia-based Heritage Bank has announced it will team up with Ernst & Young Australia (EY) to deploy a new Open Banking solution.

Heritage will use the EY team’s consulting capabilities and cloud-hosted EY Fuse Open Banking platform.

Open Banking is a new initiative being introduced in the Australian banking landscape, allowing people to share their banking data more easily with other accredited entities. The goal is to promote greater competition and create new services, products, and experiences for Australians.

For instance, customers will be able to provide other financial institutions or accredited data recipients - like financial planners or budgeting apps - access to their personal data. Through this partnership, Heritage will not only comply with the Consumer Data Right (CDR) regulations but will be positioned to capitalise on the opportunity to compete in the new world of Open Banking, as representatives say.

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Keywords: Heritage, Ernst & Young, Open Banking, partnership, EY, CDR, Open Data, Open Finance
Categories: Banking & Fintech
Countries: Australia
This article is part of category

Banking & Fintech