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SISS Data Services to receive Consumer Data Right accreditation

Tuesday 25 May 2021 12:59 CET | News

The ACCC has announced that SISS Data Services will become accredited under the Consumer Data Right (CDR), better known as Open Banking.

The ACSISS platform from SISS Data Services provides fintechs with a path to access consumer data via Open Banking. ACSISS leveraged its existing direct data feeds (sometimes referred to as ‘closed banking’) infrastructure, to build a CDR-compliant solution for fintechs.

According to the official press release, the fintech community has been vocal about the cost and time it takes to comply with the CDR accreditation requirements, with some fintechs claiming the cost to build and comply with CDR could reach USD 500,000 plus ongoing maintenance of USD 50,000 per annum. 


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Keywords: data, Open Banking, fintech
Categories: Banking & Fintech
Companies:
Countries: Australia
This article is part of category

Banking & Fintech






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