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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