Making the CDR insights work for your business
One of the new open banking access models is the Consumer Data Right (CDR) Insights and we expect it to simplify how companies do business in Australia.
CDR Insights are insights based on a consumer’s CDR data. They allow an Accredited Data Recipient (ADR) to disclose CDR data outside the CDR system to either confirm, deny, or provide simple information to someone selected by the consumer.
CDR Insights empower you to build better financial solutions for your customers.CDR Insights enable you to:
- Identify a customer
- Confirm an account balance at a specific point in time
- Alert a merchant if an upcoming payment is likely to fail
- Verify a customer’s income and expenses
- Verify account ownership
- Proof of an average income over period of time
This guide will answer your questions including:
- What is a CDR Insight?
- Who can use CDR Insights?
- How to access CDR Insights?
- Are CDR Insights right for your business?