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.