FinTech Australia Prepares to Spotlight Consumer Data Rights at Second Summit
FinTech Australia is gearing up to host its second annual Consumer Data Right (CDR) Summit, setting the agenda for the regime ahead of a broader consumer rollout.
This year’s Consumer Data Right Summit has plans to showcase local and international experts, policymakers, founders and builders who will take to the stage to discuss the future of the CDR and the most exciting emerging use cases at The Hilton in Sydney on Wednesday 3 July.
Launched in Australia in 2020, the CDR currently enables the use of consumer data from their banks and energy service providers in third-party services, with explicit consent from the consumer.
Rehan D’Almeida, CEO of FinTech Australia, said: “After four years of solid policy groundwork, the 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 own financial data to power better decisions on their services providers. It’s also set to supplant the practice of screenscraping and over time replace it with a more regulated regimented means by which fintechs can responsibly access consumer financial data.
“Our goal for this summit is to connect key industry players to discuss the rollout to date, and set the tone where we enter a crucial phase where consumer adoption and education will be as crucial as considered policy settings. This includes broadening interest in the CDR to those in superannuation, insurance, telecommunications, as well as other key consumer industries that will be involved in its rollout.”
Brenton Charnley, head of open banking at Mastercard Australasia; Dan Jovevski, founder and CEO of WeMoney; Damir Cuca, founder of Basiq; and Jodi Ross, chief risk and compliance officer at Tiimely, are also set to take to the stage.
