What is an open banking payment? An open banking payment is when a consumer lets a 3rd party initiate a payment from their bank account. For example, a business might let PaySauce initiate payroll payments from their bank account. That could be a one-off payment, or a recurring payment, or a variable recurring payment.

On 24 January 2022, the Australian Government Treasury released a report on outcomes from the Consumer Data Right (CDR) Strategic Assessment. The ‘ Strategic Assessment Outcomes Report’ identifies ‘ Open Finance’ as the next priority area to expand the CDR. This exciting announcement ends speculation as to whether the general…

The concept of money has not changed for millennia. It is a point which I have not had reason to sit down and think hard about until recently. But it’s true. According to Encyclopaedia Britannica, the use of metal for money can be traced to Babylon before 2000 BC, with…

Is there a person that exists in the world that relishes that time of year when their various insurance policies are up for renewal? If there is I would love to meet them. Insurance has historically had a major image problem with consumers. It is an industry that is represented…

By Brenton Charnley, Head of Australia, TrueLayer and James A Brown, FinTechNZ Australia and New Zealand share a lot of similarities such as a love for rugby, cricket and pavlova. Now, following The Hon. …

Last week the government announced that it will introduce a Consumer Data Right (CDR) to New Zealand to enable the future of Open Finance. These regulations have been in the works since 2019, and will likely be enacted in 2022 or 2023. …

From 1 July 2021, Australians are going to be hearing a lot more about the Consumer Data Right (CDR) which is our version of Open Banking. Simply put, Open Banking means that you can require your bank to share your data with a trusted third party, like a fintech, so…