Westpac accredited as data recipient under Open Banking

Thursday 7 October 2021 15:16 CET | News

Australian Competition and Consumer Commission has approved banking group Westpac as an Accredited Data Recipient under the Consumer Data Right.

According to company officials, Westpac supports the increased competition and innovation from Open Banking, which allows consumers to securely share selected banking data with trusted third parties.

The bank has worked alongside the Federal Government and regulators as the Consumer Data Right has evolved for the banking sector, and will continue to focus on ensuring implementation and consumer education around Open Banking.

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Keywords: Open Banking, regulation, API, banks
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Australia
This article is part of category

Banking & Fintech