14 November 2018

10 points on Open Banking in Australia

This KWM BriefSheet sets out 10 key features of the Australian Open Banking framework.

Our experts unpack these key points:

  • It is about sharing customer data at the direction of the customer with accredited data recipients. Data recipients need consent and must themselves share data too.
  • There are two key regulators a new Data Standards Body and safeguards and liability regimes.
  • It starts on 1 July 2019 but is will not stop with banking.

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