Open Banking platform
Our end-to-end Open Banking platform helps you collect and use Open Banking data to drive better outcomes for you and your customers.
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Build with confidence
Reliably access high quality financial data and insights for any use case. -
Transform your business
Use financial data to streamline, personalise and transform products and services across your business. -
Empower your customers
Let your customers use their financial data to get a better, richer customer experience.
Empower your business with Open Banking data
Deliver better outcomes for you and your customers with Australia’s leading Open Banking platform.
Empower your business with Open Banking data
Deliver better outcomes for you and your customers with Australia’s leading Open Banking platform.
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A complete solutionOne platform to seamlessly collect, enrich and use CDR data in multiple use cases across your business.
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Proven and reliableAustralia’s leading Open Banking platform, providing reliable access to CDR data since 2020.
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VersatileDesign and configure the optimal customer experience for each of your use cases.
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ImpactfulBuilt to deliver better outcomes for you and your customers.
Comply and compete with Open Banking
Open Banking provides an exciting opportunity to streamline and personalise your products and services.
Frollo’s Open Banking platform provides you with a complete toolset to use CDR data and gain a competitive advantage.
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Our CDR Gateway sets the standard in consent management and CDR data collection, with complete configurability, high reliability and advanced reporting features.
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Our Data Enrichment engine turns raw CDR data into insights with market-leading accuracy. Transaction categorisation, merchant identification, bill tracking, income verification and much more.
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Streamline your lending decisions with our Financial Passport; a complete, real-time financial profile of your customers.
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Enrich your customer experience with powerful money management features and financial insights, driving engagement and value-add opportunities.
For many financial institutions, Open Banking starts with a need to comply. As a Data Holder you need to publish Product Reference Data and enable your customers to share their own financial data.
As Australia’s most experienced Data Recipient, Frollo can make Data Holder compliance a lot easier and more efficient.
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Our Data Holder testing platform provides the tools to confidently test all parts of the CDR specifications, across UAT and production. Automation and expert support ensure efficient and comprehensive testing, whenever you need.
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Our PRD Portal turns your obligation to publish Product Reference Data into an opportunity to gain a competitive advantage. Save time managing product data and keep an analyse competitor products in our competitive insights tool.
About Open Banking in Australia
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What is Open Banking?
Banking was the first sector to launch as part of the Consumer Data Right (CDR) on 1 July 2020. Just as in the UK and other countries, in Australia, this is commonly referred to as Open Banking.
The Consumer Data Right (CDR) puts consumers in control of their data, by giving them the right to share their data between service providers of their choosing. More than 100 banks currently make it possible for their customers to share financial data with third-party providers.
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A phased roll-out
In the first few years after Open Banking launched, a lot of work was done to make all of the banks (Data Holders) and their products available for consumers; as part of a phased roll-out, the Big Four banks were the first to enable data-sharing for their customers in 2020.
At launch, Regional Australia Bank and Frollo were the two companies that were accredited to receive Open Banking data. Regional Australia Bank allowed customers to use it for streamlining lending applications, and Frollo used Open Banking in its money management app.
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Control over your data
Open Banking will ultimately give consumers more control over their banking data and how it is used. It enables them to safely share banking data with trusted third parties such as banks, fintechs and mortgage brokers, helping to significantly streamline many processes where financial data is required.
In short, Open Banking offers greater transparency for consumers, making it easier for them to manage their finances and get better deals – while also driving more opportunities for innovation and competition across the finance sector.
Read more by downloading the State of Open Banking 2024
What are some of the use cases for Open Banking?
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What data is available via Open Banking?
What data is available via Open Banking?
When Open Banking launched, only the Big Four banks had to enable their customers to share data. Now, more than 100 financial institutions (Data Holders) let their customers share data, providing more than 99% coverage of household deposits.
Australia’s Open Banking regime is unique in the depth and breadth of data that’s available. Data Holders share data from more than 30 different financial products, including savings accounts, mortgages, business banking accounts and credit cards. This data isn’t limited to just the transactions either; it includes things like rates, fees and product information to enable easy product comparisons and financial advice.
As the Consumer Data Right is continuing to expand, Open Energy and Open Finance will bring different products and providers into the system.
Learn more about the Open Banking and CDR roll-out in the State of Open Banking 2024.
Can I rely on Open Banking to build products and services?
Can I rely on Open Banking to build products and services?
Fast and reliable access to financial customer data is crucial for many Open Banking use cases. Unfortunately, it’s hard for businesses to check API performance before they go live. It’s why Frollo tracks and publishes API performance metrics.
As Australia’s leading Open Banking intermediary, Frollo is in a unique position to measure performance for all live Data Holders.
Overall, Australian Open Banking APIs are fast and reliable. They deliver data in close to a second, with more than 99% reliability.
Find out more about performance and reliability from our Open Banking API performance tracker.
What kind of accreditation does a business need for Open Banking?
What kind of accreditation does a business need for Open Banking?
There are a few different ways for a business to offer Open Banking powered experiences to their customers. In addition to ‘Unrestricted Accredited Data Recipient (ADR)’, there are five more CDR access models a business could utilise to access Open Banking data. Which of these is best for your business depends on your use case, your organisation and how strategic Open Banking data is for you.
The six CDR access models are:
- Unrestricted ADR
- Sponsorship model
- Representative model
- Collecting Outsourced Service Providers (COSP)
- Trusted adviser
- CDR insights
In some cases, you might not need accreditation at all. New rules for business consumers make it easier for them to share their data with partners who aren’t accredited.
Download our free Definitive Guide to CDR access models to learn more about the different models and find out what’s right for you.
Where can consumers use Open Banking?
There are many different use cases for the real-time, rich and accurate financial data Open Banking provides. These are just a few of the use cases the Frollo Open Banking platform supports.-
You can find more Open Banking use cases in the State of Open Banking 2024.
Empowering Better Banking
We believe in the power of Open Banking to make things better: more accessible, more transparent, and more efficient. Frollo is helping Australia bank smarter, not harder.
Our mission is to empower the financial sector with the Open Banking tools and tech it needs to make the move to a world of better, more open, banking. In this world, customers can share their data freely and securely, positively impacting everyone along the way.
We are
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Australia's leading Open Banking providerWe’ve been empowering banks, lenders, brokers and financial advisers with Open Data since 2020.
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Delivering business outcomesOur technology helps clients save time, reduce costs, lower risks and improve customer love.
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Making finance better for allOur technology makes life better for the millions of Australians our clients serve.
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