Fintech
FinTech Australia prepares to highlight consumer data rights at second summit
FinTech Australia is preparing to host its second annual Consumer Data Rights (CDR) Summit, setting the agenda for the regime ahead of a wider consumer rollout.
This year’s Consumer Data Right Summit plans to showcase local and international experts, policymakers, founders and builders who will take the stage to discuss the future of CDR and the most interesting emerging use cases in the The Hilton in Sydney on Wednesday 3 July.
Launched in Australia in 2020, CDR currently allows consumer data from their banks and energy providers to be used in third-party services, with the consumer’s explicit consent.
Rehan D’AlmeidaCEO of FinTech Australiasaid: “After four years of solid policy grounding, CDR has reached the threshold of industry adoption that will precede mass consumer adoption.
“This is a suite of fintech tools that will have a real effect on cost of living pressures, enabling consumers to use their financial data to make better decisions about their service providers. It is also intended to supplant the practice of screenscraping and, over time, replace it with more regulated and regimented means through which fintechs can responsibly access consumers’ financial data.
“Our goal for this summit is to connect key industry players to discuss the implementation to date and set the tone as we enter a pivotal phase where adoption and consumer education will be crucial as much as the political settings considered. This includes broadening the appeal of CDR to those in the superannuation, insurance, telecommunications sectors, as well as other key consumer sectors that will be affected by its introduction.”
Brenton Charnleyhead of open banking at Mastercard Australia; Dan Jovevskifounder and CEO of WeMoney; Damir Cucafounder of Basiq; AND Jodi Rossrisk and compliance officer at Punctualthey will also take the stage.