As of February 25, 2021, Adatree is officially accredited as an Accredited Data Recipient (ADR) by the ACCC. Adatree is the first startup to be accredited, the first company accredited with a female CEO, and the first purely CDR-focused technology provider.
Adatree is a Consumer Data Right technology provider of turnkey solutions to access and leverage CDR data, working with other companies to accelerate their own journey as an Accredited Data Recipient.
Adatree’s own accreditation will help enable our partners achieve their CDR business goals more efficiently and effectively. Adatree’s CDR platform is already 99% faster than building by oneself, and at least 90% cheaper. Adatree’s accreditation will increase flexibility for customers and increase services for data recipients.
Adatree’s accreditation removes barriers, increases flexibility for aspiring Data Recipients
Accreditation as a Data Recipient enables Adatree to elevate its product and service offering and provide even more benefits including:
- Australia’s First SaaS Platform Implementation: Accreditation enables Adatree to host the Open Banking platform in its own cloud environment. This decreases cost for customers, decreases time of setup and configuration, and simplifies the overall process.
- Accelerating Your ADR Accreditation and Active Status: Through utilising Adatree as an ADR Provider in an ADR application, our customers’ journey to being accredited and, most importantly, active will be 99% faster than building and maintaining it themselves.
- Lightning Fast Deployments: Adatree’s CDR Platform is deployed and configured in a customer’s AWS environment in only three hours.
- Increased Support SLAs: With the SaaS deployment model, Adatree’s service level agreement timelines are about 30% better compared to deploying in a customer’s cloud account. This means more oversight, more continuity and less interruptions for maintenance.
- Introducing CDR Data Storage: Accredited Data Recipients have the choice of storing CDR data in their own environments or in Adatree’s CDR environment. This environment has undergone an ASAE3150 Information Security Assurance audit, meets high security standards and AWS Well Architected Framework recommendations.
- Increased Capabilities for ADRs: Adatree’s CDR Platform roadmap is now focusing on capabilities to leverage CDR data, all still accessible through one API.
- Adatree’s Own CDR Services: As Adatree is accredited as an unrestricted ADR, this enables Adatree to bring its own B2B or B2C CDR-powered products and services to market.
When an aspiring Accredited Data Recipient utilises Adatree’s Data Recipient technology solutions, this guarantees a faster and smoother experience for the testing conformance suite. Adatree’s advantage is a turnkey software solution, built to access and leverage the CDR. Rather than starting from the ground up, applicants can save time by eliminating conformance testing periods and future standard maintenance and save at least 90% of costs by utilising Adatree’s platform. This enables organisations to focus on customer value propositions instead of compliance.
Adatree’s lightning accreditation journey
Adatree has been purely focused on enabling other companies in the CDR and removing barriers to accessing and leveraging data.
In November 2020, Adatree decided to pursue accreditation with a fully submitted ADR application, including an ASAE3150 audit report, submitted just over a month later. This decision was based on new regulatory changes regarding providers.
During this month-long accreditation application journey, Adatree was simultaneously deploying its software into customer environments, building products and infrastructure, undertaking a capital raise, and growing their team.
“We decided to be accredited and met all the application criteria very quickly,” says Jill Berry, Adatree’s CEO. “This shows that it doesn’t take big budgets or big teams to participate in the CDR. Any company can do it.”
The application journey includes creating a number of policies and procedures, largely ensuring that the IT environment controls were in place, secure, and auditable. The business policies and procedures also covered complaints, fit and proper persons, while technical policies, including incident management, information security governance, and controls met all CDR requirements.
Adatree had to undergo an ASAE3150 Information Security Assurance Report to test and prove their technical infrastructure, resilience, processes, and controls. This was completed by RSM.
Adatree’s Expertise in the Consumer Data Right
Adatree has been developing their Data Recipient Platform since July 2019, and they are equipped with a deep knowledge of and experience with the CDR, along with a personal understanding of the accreditation process. They are more ready than ever to reduce the complexity of testing and accreditation to any and all aspiring ADRs.
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