Inquiry into future directions for CDR: Australian government responds

Tuesday 14 December 2021 13:21 CET | News

On 14 December 2021, the Australia-based government has released its response to the Final Report of the Inquiry into Future Directions for the Consumer Data Right following extensive targeted engagement with interested parties. 

The Government’s response commits to significantly strengthen and deepen the Consumer Data Right’s (CDR) functionality and use through the implementation of third-party action and payment initiation reforms, along with other recommended reforms that will grow the CDR ecosystem and foster greater international engagement. 

This will expand the CDR beyond a data portability framework, with a capability akin to a digital power-of-attorney.

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Keywords: financial data, data sharing, data privacy
Categories: Banking & Fintech
Countries: Australia
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Banking & Fintech

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