The state of Open Banking 2021

An industry ready for takeoff

In-depth industry survey and analysis

Local and global case studies

Interviews with industry leaders

The State of Open Banking 2021 provides readers with a pulse check of where Open Banking in Australia is up to and what is to be expected over the next 12-months.

The report shows an industry that’s ready for takeoff, as data availability has accelerated, APIs have proven fast and reliable, and businesses are more excited than ever to get started. We explore some of the opportunities and challenges ahead, and provide an update on all the exciting milestones that have been achieved in the 12-months since we released our inaugural report.

Industry leaders provide unique insights

In September 2021, we spoke to a number of Australian finance industry professionals to provide input into the State of Open Banking in 2021.

The report includes:

The state of Open Banking 2021 - Industry leaders provide unique insights

Interviews with P&N Bank, BOQ Group, AFG and NextGen.Net

Case studies from Regional Australia Bank, REA Group and Commonwealth Bank with each providing unique use cases

An in-depth analysis from our annual survey of 131 respondents covering key topics such as Open Banking awareness, participation and views on the CDR regime.

And many more insights and visuals broken down and dissected.

The findings from the report demonstrate that Open Banking in Australia is starting to gather momentum with many committing to using it over the next 6 to 12 months. It is backed up by a late surge in accredited data holders coming online in 2021.

With Open Banking gathering momentum in 2021, 2022 will likely see new use cases emerge.

The Consumer Data Right

Over the last 18 months, the Open Banking ecosystem has expanded and improved, to deliver the coverage and performance required to build great user experiences.

As we enter the final phases of the initial rollout schedule for the economy-wide reform, we undertook an industry deep-dive to provide the latest insights into the CDR. We cover key elements including:

An overview of data holders and recipients

Why consumers are wanting to see more

The most popular financial products to be added to the CDR roadmap

The latest updates to Tiered Accreditation

A local and global perspective on what’s next for CDR

Deliver better customer outcomes with Open Banking

The Frollo Open Banking platform helps banks, FinTechs and lenders use financial data to quickly launch Open Banking powered experiences and deliver real customer value.

The only end-to-end Open Banking platform

Open Banking Platform

A modular, end-to-end solution for Data Recipients


Connect to 90+ banks with an out of the box, customisable consent flow, data sharing dashboard and advanced user management portal.


Categorise transactions, detect bills, classify merchants and verify income with market leading accuracy.


Plug & Play access to Open banking powered solutions for lending, personal finance management and customer onboarding.

Want to learn more about Open Banking?

Access our collection of blogs, reports, media and other reference materials.

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