Adatree, a SaaS provider of turnkey Open Banking technology, launches a new add-on data storage service for their Data Recipient customers.
In addition to getting access to the Consumer Data Right (CDR) through Adatree’s single API, our customers can also choose to have their CDR data in Adatree’s audited CDR environment, as well as handle any deletion requests sent by consumers to Adatree’s customers. Data is stored in a single tenancy AWS environment with the highest levels of protection and security in Adatree’s audited ASAE3150 compliant environment.
Adatree’s customers, like all Accredited Data Recipients (ADR), are required to store their CDR data in an ASAE 3150 compliant environment. This requirement can be difficult to both establish and maintain. Adatree has undergone an ASAE3150 Information Security Assurance Report by an external auditor on its CDR data environment to ensure secure and compliant data storage options.
Currently all of Adatree’s APIs are real-time passthrough from their clients to the Banks. Adatree has implemented an asynchronous data aggregation service to accept consumer consents as it does currently. It uses event driven data pipelines backed by AWS EventBridge to aggregate and store data within the Adatree CDR Open Banking environment on behalf of their clients. This means that as consumer consent changes, Adatree can manage any deletion of data required directly with the stored data, on behalf of the business.
“We knew that clients were asking for an option of storing their CDR data and we wanted to leverage AWS capabilities and our own audited CDR environment to make it easy for them,” says Shane Doolan, Adatree CTO. “This is also a gateway for Adatree to provide additional value-add services.”
Adatree is Australia’s leading Consumer Data Right platform. They offer a turnkey solution hosted in Amazon Web Services environment for any ADR to be able to access the CDR through one simple API. Adatree makes it easy for any organisation in any industry to access and leverage Consumer Data Right by providing consent lifecycle, integrations, infrastructure and everything technical needed to be part of the Consumer Data Right. Adatree is also committed to helping aspiring ADRs with their application through the ADR Accelerator product.
To learn more about Adatree and the data storage solution visit our data storage product webpage.