February 1 marks a major milestone with the CDR: the new Access Models are live! This is the exciting time where changes go from legislative updates to actually live in the market. These changes will be a catalyst for increased participation in the CDR, easier pathways to launching your use case, and increased competition and choice for Australians.
The Consumer Data Right was always intended to facilitate economy-wide data sharing for consumers. With the release of today’s statement from Treasurer Josh Frydenberg MP and Paul Fletcher MP, this brings consumers one step closer to absolute ownership of their data and its usage.
This is the second part in a three-part technical blog series on bringing COVID Hotspot Alert to market in eight weeks. We will focus on the integration aspect of the value proposition and explain how Adatree’s Accredited Data Recipient platform turns sophisticated multi-party integration into simple data APIs and allows innovative participants to focus on business challenges.
This is the first part in a three-part technical blog series on bringing COVID Hotspot Alert to market in eight weeks. This focuses on the user experience aspect of the value proposition and how Adatree’s Consent Dashboard APIs that form part of the Accredited Data Recipient platform make the compliance aspects easy to execute. This allows your front-end wizards to work their magic and build rich consumer experiences.
This month, Adatree has launched an innovative new service called COVID Hotspot Alert to help keep Australians safe during the pandemic and give them greater peace of mind by leveraging a user’s card purchase data.
As of 4 August, Adatree is excited to announce that 34 out of 34 Data Holders are currently live in Adatree’s Data Recipient Platform. Our turnkey platform is 100% automatic, with no manual intervention required. This means it automatically adds and activates any new Data Holder so that our customers can start receiving data off the new Data Holders immediately.
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Adatree hears from companies all the time, “I want to be accredited as soon as possible, help me get there.” What we should actually be hearing is, “I want to be active as soon as possible.”
On July 1, 2021, Treasury released draft amendments to the Consumer Data Right Rules for consultation (Version 3), with specific amendments regarding new models for accessing the CDR, allowing participants to share CDR insights for specific purposes and creating a single consent data sharing model for joint accounts.
Adatree, a SaaS provider of turnkey Open Banking technology, has signed the largest ever bank and fintech partnership which will enable a consortium of 20 Australian banks and credit unions to enter into the Consumer Data Right.
With Data Holders sharing consumer data with Accredited Data Recipients from July 2020, all other banks and credit unions, excluding foreign branches, have to start making consumer data sharing available from July 2021. Data Recipients want to ensure that they get immediate access whenever a new data source is available, and Adatree’s Data Recipient platform guarantees their seamless access.
Adatree acknowledges Aboriginal and Torres Strait Islander peoples as the traditional owners of our lands throughout Australia. Our headquarters are located on the lands of the the Gadigal people of the Eora Nation. We pay our respect to their culture and to Elders past, present and emerging.
Adatree Pty Ltd
Level 2, 58-62 Kippax St Surry Hills
NSW 2010
(02) 8017 1118
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