Open Banking in an Australian landscape
How this major shift will impact Australian consumers and businesses
Today marks a major shift in the Australian banking industry with the introduction of Open Banking. It will see the Big Four banks providing everyday Australians with greater say over and access to their own financial data, including credit and debit card data, deposit and transaction account data under the Australian Open Banking framework.
This is the first big step towards an open data sharing ecosystem in Australia and will result in more Australians benefitting from the new regime providing the foundation for a fairer, easier and more sustainable financial industry.
In the below videos, Experian’s Executive General Manager of Credit Services and Decision Analytics A/NZ, Poli Konstantinidis shares his insights on what Open Banking will look like in the Australian lending landscape and how it will ultimately put the control back into consumers’ hands. Poli also highlights key learnings from Experian’s international experience in the UK and South Africa, where Open Banking has already been introduced.
Watch the videos to learn more about Open Banking in Australia and the shift it will bring to our lending landscape.
Read full article
There is a growing sense of urgency in Australia of the need to embrace open data sharing or be forced to work within an imposed regime. But what lessons can…Learn more