Open banking in Australia is the first train to leave the station under the Consumer Data Right (CDR). This past year has been critical in laying the tracks. We have 72 banks registered by the Australian Competition and Consumer Commission (ACCC) with the status of Data Holder, so they can now supply data. This covers 95% of customers in the banking market and in 2022 we should see the remaining banks catch up. On the demand side, out of 26 unrestricted Accredited Data Recipients, 11 have active status. In 2022, we should see a range of functioning CDR based apps, using the CDR rails. This means that more and more consumers can start using their data right to see the promised benefits of choice, convenience and confidence, saving time, money and hassle when satisfying their banking needs. Looking ahead into 2022 and beyond, here’s what we know will happen, what we’d like to see, and where we can go next.
In 2021, the Consumer Data Right train finally left the station
We've learned a lot about the important factors shaping the future of open banking in Australia.


