Article: Why the 2021 Federal Budget was promising for open banking

Money, Open Governance

Why the 2021 Federal Budget was promising for open banking

This year’s Federal Budget, which focused on Australia’s economic recovery from the COVID-19 pandemic, included a $1.2 billion technology package centered around digital skills and cyber security. While it was relatively quiet for the FinTech sector, the announcement of a $113 million investment into the rollout of the Consumer Data Right (CDR), the legislation behind open banking, has the power to spearhead growth in the finance sector and increase Australians’ financial wellness.

The Australian Government announced the introduction of a CDR in 2017. The CDR, which Envestnet | Yodlee recently became an accredited member of, set out to give consumers greater access to, and control over their data, improve their ability to compare and switch between products and services, and encourage competition between service providers.

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Article: Health research council moves to mandate immediate open access

Access, Document, Open Decision-Support, Research

Health research council moves to mandate immediate open access

Australian council releases discussion paper on immediate open-access publication of research it funds Australia’s National Health and Medical Research Council has proposed that immediate open-access publication of research resulting from its grants should become mandatory.

The council already requires researchers to list their patents on the government’s SourceIP website, but its existing policy allows a 12-month delay to open-access publication of NHMRC-funded research. The proposed reforms would involve researchers publishing in open repositories, circumventing publishers’ fees, as well as publishing in traditional journals. Authors would be required to retain the rights to publish and share their work. It would also encourage researchers to release non-peer-reviewed preprints.

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Article: Australia’s Open Banking revolution begins

Money, Open Governance

Australia’s Open Banking revolution begins

Leading Australian Open Banking provider Frollo,  leading technology provider to the lending industry, NextGen.Net, have published the first industry report on ‘The State of Open Banking in Australia’ since the Consumer Data Right (CDR) launched on July 2020.

The State of Open Banking in Australia report looks at what the financial sector thinks of the new banking regime, where it is headed and what the most immediate challenges and opportunities for businesses are. The report, based on interviews with key industry leaders and a survey of 161 finance and broking professionals across Australia’s financial sector, highlights that although there is still much to be done before the new Open Banking ecosystem lives up to its promise of being a game-changer for the industry.

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Article: Ushering in the age of greater data demand

Geospatial, Open Data

Ushering in the age of greater data demand

The availability of marine open data infrastructure has significant economic and societal potential for coastal nations to facilitate marine domain interoperability and the World Wide Web Consortium’s (W3C) best practices for marine spatial data publishing on the Web.

With the recent Indian directive on open data and the reuse of public sector information, IIC Technologies is ideally positioned to serve the Indian coastal and inland waterway segments in facilitating a continuous data capturing of spatial-temporal physical phenomena and human activities in coastal areas and riverbanks, doing the corresponding data analysis, and the decision- making for achieving continual improvement in the marine planning and management processes.

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Article: Singapore Deep-Tech Alliance announces XNode-powered venture builder

Innovation, Open Space

Singapore Deep-Tech Alliance announces XNode-powered venture builder

THE SINGAPORE Deep-Tech Alliance (SDTA) has announced the launch of its venture builder, SDTA22. The venture builder is powered by XNode, which is notably Enterprise Singapore’s Global Innovation Alliance (GIA) partner in Shanghai and Shenzhen. According to a statement by SDTA, XNode has its roots in the advanced manufacturing ecosystem in China and works with startup founders to scale and with large corporations to innovate.

Besides establishing the China-Singapore Innovation Launchpad as a GIA partner, the accelerator has partnered with the Australian, Japanese, Korean and Italian governments to form landing pads for international startups to gain access to China.

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Article: How Railsbank can provide new financial opportunities in Australia

Money, Open Governance

How Railsbank can provide new financial opportunities in Australia

London-based Railsbank has partnered with Australian neobank Volt and the former plans to improve and provide fintech opportunities in the country. Railsbank wants to use Volt’s banking-as-a-service platform to distribute various products, such as cards and payments. This is a partnership that will contribute to Railsbank’s expansion in the Asian region.

Open banking got a slow start in Australia, but by adding cards in summer 2020, the country also contemplates adding more financial services this year. The concept of online banking has been rising in recent years, and Australia is no exception.

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Article: Open banking is big. Here’s why open finance is bigger.

Money, Open Governance, Open Source

Open banking is big. Here’s why open finance is bigger.

The open banking movement is part of a much larger open finance trend. In this VB Live event, learn how open finance and access to alternative data can revolutionize customer experiences, spur innovation, improve efficiencies, increase demand, and more.

Open banking starts with the premise that consumers have the right to access the data that’s  held by their financial institutions — and permit that data to be used by third-parties for the consumers’ benefit. But this is only the beginning, says Brian Costello, VP, Data Strategy & Governance at Envestnet | Yodlee, as the open banking movement becomes part of a much larger open finance trend.

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Article: Is Canada falling behind global peers with open banking?

Money, Open Governance, Open Source

Is Canada falling behind global peers with open banking?

There is a risk that it will says financial services industry group as it publishes an open banking manifesto. Several countries have already gone some way along the route to open banking but is Canada at risk of falling behind its global peers?

The benefits of adopting open banking has been laid out in a new publication from the non-profit Open Banking Initiative Canada (OBIC) which brings together thought leaders from finance, technology, and regulation in partnership with CIO Strategy Council and others.

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Article: Open Access journals at Library

Access, Open Decision-Support, Open Source

Open Access journals at Library

Do you want more quality information on a topic, than a simple google search can provide?

Swan Hill Regional Library have joined many public libraries across Victoria, to trial a new online journal database.

Libraries Manager Camille Cullinan said the new database would provide access to more than 26 thousand vetted, quality, scientific journals from across the world, including Australia.

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Article: The not-so-secret value of sharing commercial geospatial and open-source information

Geospatial, Open Data, Open Source

The not-so-secret value of sharing commercial geospatial and open-source information

Two years ago, reports surfaced that the Chinese Communist Party (CCP) was detaining hundreds of thousands of China’s Muslim Uyghurs and other ethnic minorities in so-called “re-education” camps. Chinese authorities initially denied the existence of these camps until human rights organizations and media sources provided indisputable evidence that they do exist.

Discovering human rights abuses such as this would be nearly impossible without access to commercial geospatial intelligence (GEOINT) provided by satellite imagery that established visual evidence of the camps. Beyond the discovery of the camps, GEOINT also provided the ability to track developments at the camps by comparing images taken over time.

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