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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