One year in, Open Banking has 12 live Data Holders
On 1 July 2021, one year after the Consumer Data Right kicked off in Australia, we’re excited to announce we’ve launched Data Holder number 12 on the Frollo Open Banking platform.
In addition to the Big Four banks and Regional Australia Bank – who all launched last year – a number of tier two & three banks, mutuals and neo banks are now available via Open Banking, bringing coverage up to approximately 90%.
Live Data Holders in Frollo
When Data Holders get the ‘Active’ status on the CDR registry, they become available for Data Recipients to test and enable on their platforms (if all testing goes well).
As we’re working hard to test all Data Holders before enabling them on our platform, the list of currently available Data Holders looks as follows:
- Australian Military Bank
- Judo Bank
- Regional Australia Bank
- RSL Money
- Up Bank
Other Data Holders that are currently active on the registry include Suncorp, Macquarie Bank, Volt Bank and Citi, Coles financial services and Qantas Money.
More are expected to become ‘Active’ and ‘Live’ over the next few days and weeks.
Open Banking Data Recipients
Like the number of Data Holders, the number of Data Recipients is also growing. Currently there are 12 Data Recipients accredited to receive Open Banking data.
The big difference is that there are only two Data Recipients actually live: Frollo and Regional Australia Bank. Both have been live since 1 July 2020, when Open Banking launched in Australia.
With over 10 Million Open Banking API calls, Frollo is responsible for more than 95% of all Data Recipient activity to date.
Other Accredited Data Recipients like CBA and Finder haven’t launched their use cases yet, but will hopefully do so in the near future.
Because guess what?! Australians can’t wait!
The Frollo Open Banking platform
The Frollo Open Banking platform is the market leading solution to collect and use CDR data.
With over 10 Million Open Banking API calls, we’re responsible for over 95% of Open Banking activity to date.
Leverage our robust platform to get plug & play access to Open Banking powered solutions for PFM, Multi-banking and lending.