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.

Key contacts

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    The goal posts for executing a deal in the financial services sector have changed. In this difficult regulatory environment, sellers are finding it harder to get their deals away.

    27 February 2020

    This month the Australian Government legislated to introduce an enhanced regulatory sandbox under Australian financial services and credit licensing laws. 

    20 February 2020

    This article was written by Astrid Sugden, Travis Toemoe, Mandy Tsang, Chloe Walker and Sarah Yu. This alert provides key takeaways and our in-depth analysis of some of the proposed...

    18 February 2020

    Now is the time to engage with the Consumer Data Right participant accreditation process if your organisation wants to be in a position to receive CDR data on behalf of CDR consumers.

    18 February 2020

    You may also be interested in...

    Legal services for your business

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.