Open Banking

What is Consumer Data Right?

The Consumer Data Right (CDR) was introduced by the Federal Government to give consumers more choice and control over how their data is shared.

Under the Competition and Consumer Act 2010 and the Competition and Consumer (Consumer Data Right) Rules 2020 (CDR Laws), consumers can ask for their data to be securely transferred to an accredited provider so they can investigate, compare and access services more easily.

In the banking sector, this is called “open banking”. You can learn more about CDR on the Australian Competition and Consumer Commission’s (ACCC) website www.accc.gov.au and the Australian Government Consumer Data Right website www.cdr.gov.au.

Northern Inland's CDR Policy provides information about how NICU manages data under the Consumer Data Right.