ABSIA submitted to the Treasury's Inquiry into Future Directions for the Consumer Data Right on 21 May 2020. This submission took in feedback from Members and the Board about various issues surrounding CDR.
In summary, this submission put forward the following points:
- CDR should create a single access mechanism;
- CDR should provide a low-cost and robust identity verification capability;
- ABSIA supports the extension of CDR into the superannuation sector and notes its potential to provide opportunities for innovation alongside Open Banking;
- Current and future CDR implementations should be consumer focused rather than sector focused;
- ABSIA comments CDR's approach to leveraging existing frameworks to lower the costs and fast-track implementation; and
- ABSIA broadly supports the introduction of 'write' access.
A PDF copy of this submission can be accessed here.