The guide covers how Open Banking works, how it is regulated, the benefits of Open Banking for consumers, the timeline for Open Banking in Australia, the difference between a Data Holder (DH) and an Accredited Data Recipient (ADR) and the role of intermediaries.
The guide also references the current and expected situations with Open Banking payments in Australia. TrueLayer expects that Open Banking payments should be prioritised and is preparing to launch Open Banking payments in Australia in 2022.
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