How the Consumer Data Right works

Illustration of how CDR works 

Your consent

When a company wants to use your data, they will always need your consent.

Your data

It’s your data. You should get value from it when it is used.

Your control

You’re in control of who can continue to use your data and when.

This is bigger than banking

Although CDR is starting in the banking industry, it won’t stop there. It will gradually be applied to other sectors of the economy, including energy and telco.

Over time, as more and more companies create services that use CDR, things like buying a home, switching phone providers or even running your own business will become easier

We've got big plans to make banking about people

We’re making it easier to buy your home

Even if you’ve done it before, we know how big a decision it is to buy your own home. So when the time is right for you, we can let CDR carry some of the load, creating more time for a human conversation with one of our home loan specialists. Great people and great technology working together to listen and deliver the right products and services for you.

We’re unlocking lifestyle opportunities for you

As the CDR rolls out across the country, many benefits will be uncovered. For example, small businesses and sole traders use a range of accounting and business management applications daily. CDR will allow these applications to safely and securely connect to up-to-date banking data. This could make a real difference to people who need to concentrate on their business and not their banking.

Read our CDR Policy

Find out more on how we handle your data in our easy-to-read policy.

Consumer Data Right Policy (5 min read)


Regional Australia Bank’s Open Banking Progress

Regional Australia Bank has yet to implement certain aspects of open banking, which are further explained below and in the rectification schedule provided by the ACCC. We will keep our customers informed about the latest developments on data-sharing offerings and how they can take advantage of open banking.

Open Banking Issue

1. Delayed support for joint accounts
2. Delayed support for non-individuals, partnerships, nominated representatives and secondary users

How this impacts customers

If the authorised third party is unable to access joint account data, it can result in an incomplete financial picture for the customer, impacting their ability to manage their finances effectively and make informed decisions.

Target Resolution Date

14 April 2023

Learn more

To learn more about data holders who have self-reported potential implementation gaps in their consumer data-sharing systems, click here to view the ACCC rectification schedule