Get all your news in one place.
100’s of premium titles.
One app.
Start reading
InnovationAus
InnovationAus
Technology
Joseph Brookes

CDR architect says hold the course as banks blast scheme

Australia

The architect of Australia’s consumer data right is calling for patience with the four-year-old scheme and teased additional future benefits after banks on Wednesday warned almost no one was using it as their compliance costs hit $1.5 billion.

Lawyer Scott Farrell, who designed the data sharing scheme for the Morrison government in 2017, backed FinTechs in calling for an expansion of the Consumer Data Right (CDR) that would allow additional use cases in open banking.

He accepted there are issues with the CDR and it is yet to deliver the performance he envisioned.

Close

Want to know how this story ends?

Become a subscriber for complete access to all stories on InnovationAus.com and our daily newsletter.

Start your subscription now

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Is Nicki Minaj an Illegal Immigrant? Netizens Calling to Deport Rapper Back to Trinidad and Tobago
Is Nicki Minaj an illegal immigrant? Explore the viral deportation calls, residency rumours, and claims she joined MAGA to protect her California home from seizure.
International Business Times UK
International Business Times UK
8 Everyday Foods That Can Turn Toxic When Reheated
Leftovers are a lifesaver on busy days, but not all foods are meant for a second spin in the microwave. While reheating can be convenient, it can also be risky if you’re not careful. Certain foods undergo chemical changes or harbor bacteria that thrive when reheated improperly. The result? Upset…
Clever Dude
Clever Dude
Tylor Chase’s Legal History Comes To Light As His Mom Urges Fans To Stop Sending Money
“I appreciate your effort. But money would not be a benefit to him."
Bored Panda
Bored Panda
‘It brings you closer to the natural world’: the rise of the Merlin birdsong identifying app
Merlin has been trained to identify the songs of more than 1,300 bird species around the world
The Guardian - UK
The Guardian - UK
People don’t know how much sugar they eat. ‘Healthy’ buzzwords don’t help
Eating excess sugar is linked to heart disease
The Independent UK
The Independent UK
AI is getting better and better at generating faces — but you can train to spot the fakes
Even the most skilled face recognizers are duped by AI-generated faces, a new study finds. But they can improve with training.
LiveScience
LiveScience
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play