For Domain Engineering Manager David Vittor, life at Cuscal blends technical challenge with deep purpose. From aligning complex technology systems to exploring AI and tokenisation, David thrives on innovation. It’s the human impact that secure, trusted payments have that drives him most. Inspired by formative years volunteering in Zambia, David brings a purpose led approach to engineering, mentoring others and strengthening the systems that millions of Australians rely on every day.
Watch the video about David and hear his story.
Important Information: The information in this video and web copy is current as at 9 February 2026 and is subject to change. This information is provided for general information purposes only and not for the purpose of providing legal, financial or investment advice. This web copy and video are not to be distributed to any other party without Cuscal’s prior written consent. Cuscal Limited ABN 95 087 822 455.
Since joining Cuscal in late 2024, Senior Business Communications Partner Ellen Giebels has quickly become known for her lateral thinking, energy and passion for solving complex challenges. Drawn to Cuscal’s impressive history of stability and a future focused, innovative mindset, Ellen is already helping shape how our people work, connect and thrive. With big opportunities ahead, fuelled by transformation, technology and a bold new chapter, Ellen is excited to play her part in what’s next.
Watch the video about Ellen and hear her story.
Important Information: The information in this video and web copy is current as at 9 February 2026 and is subject to change. This information is provided for general information purposes only and not for the purpose of providing legal, financial or investment advice. This web copy and video are not to be distributed to any other party without Cuscal’s prior written consent. Cuscal Limited ABN 95 087 822 455.
At the heart of Cuscal’s Contact Centre is Senior Manager, Jonny Morris. From an unexpected holiday phone call that sparked his journey with Cuscal, to leading a high performing team with compassion, energy and a people first philosophy, Jonny is reshaping what leadership looks like. His focus on culture, growth and genuine human connection is empowering his team to deliver remarkable client satisfaction and build meaningful careers.
Watch the video about Jonny and hear his story.
Important Information: The information in this video and web copy is current as at 9 February 2026 and is subject to change. This information is provided for general information purposes only and not for the purpose of providing legal, financial or investment advice. This web copy and video are not to be distributed to any other party without Cuscal’s prior written consent. Cuscal Limited ABN 95 087 822 455.
As Head of Strategic Growth, Bec Tissington is reshaping how Cuscal connects, collaborates and innovates across the financial services landscape. With deep industry experience and a passion for creating value through meaningful partnerships, she’s building a new function from the ground up to unlock opportunities for clients, drive growth and push the boundaries of what’s possible in payments. For Bec, Cuscal is where legacy meets innovation and where bold ideas can truly take flight.
Watch the video about Bec and hear her story.
Important Information: The information in this video and web copy is current as at 9 February 2026 and is subject to change. This information is provided for general information purposes only and not for the purpose of providing legal, financial or investment advice. This web copy and video are not to be distributed to any other party without Cuscal’s prior written consent. Cuscal Limited ABN 95 087 822 455.
At Cuscal, we’re one of Australia’s leading independent providers of payment solutions, partnering with financial institutions and businesses to enable their entire payments ecosystem. This video takes you behind the scenes of what makes payments seamless for consumers and businesses, while highlighting the complex infrastructure and expertise required to make every transaction secure and reliable.
From card issuing and acquiring to fraud monitoring and settlement, Cuscal delivers end-to-end capabilities that keep money moving safely across Australia’s payment system. Our robust connectivity, advanced technology, and commitment to innovation ensure that every payment, whether in-store or online, flows without interruption.
Watch the video to learn how we’re powering the future of payments, together.
Important Information: The information in this video is current as at 18 December 2025 and is subject to change. This information is provided for general information purposes only and not for the purpose of providing legal, financial or investment advice. This web copy and video are not to be distributed to any other party without Cuscal’s prior written consent. Cuscal Limited ABN 95 087 822 455.
As the Consumer Data Right (CDR) extends to the non-bank lenders sector, organisations may face a wave of new obligations on top of their core lending operations.
This article cuts through complexity, explaining why many Data Holders partner with specialists, the risks that partnership brings, and the privacy and security criteria you should prioritise when choosing your provider.
Key Deadlines:
13 July 2026: Product data (formally called Product Reference Data) sharing obligations begin to apply to:
initial providers:
non-bank lenders with a combined total value of >A$10 billion resident loans and finance leases (reported to APRA on 4 March 2025).
all Buy Now Pay Later (BNPL) providers, regardless of the size of their loans/leases.
large providers:
non-bank lenders who have >1,000 customers and a combined total value of resident loans and finance leases >A$10 billion.
non-bank lenders who have CDR accreditation.
9 November 2026: Consumer data sharing obligations start for initial providers.
10 May 2027: Consumer data sharing obligations start for large providers.
Partnering for CDR Compliance
With key CDR deadlines fast approaching, non-bank lenders face mounting pressure to meet exacting standards. The CDR ecosystem is complex and constantly evolving, governed by separate Acts, Rules, Privacy Guidelines and Data Standards regulated by the ACCC, OAIC and the Data Standards Body.
Balancing this regulatory load alongside day-to-day operations often leads data holders to work with specialist third-party providers for implementing technical data holder solutions and ongoing support. However, relying on third parties introduces risks that businesses must be aware of when choosing a provider.
Why choosing a trusted Data Holder partner matters
Recent developments in the CDR landscape have highlighted a critical truth: the technology partner you choose can make or break your compliance journey.
Failing to meet CDR obligations exposes non-bank lenders to reputational and financial repercussions. The ACCC and OAIC have intensified enforcement by actively monitoring participant compliance and investigating complaints. If data holders have breached the CDR Rules and Privacy Safeguards, they could face an infringement notice and/or hefty penalties.
Are you accountable if something goes wrong?
Under the Competition and Consumer Act 2010, outsourcing your CDR activities doesn’t transfer your regulatory obligations. When a service provider acts as your CDR agent, their actions are treated as your own. This is why having the right partner matters.
Rather than increasing risk, working with a trusted provider gives you greater confidence that obligations are met consistently, and issues are identified early. But it’s still important for any CDR participant to understand where accountability sits.
Industry examples highlight this clearly. In a recent Open Banking Incident reported by the Office of the Australian Information Commissioner, consumers received comingled data from unrelated accounts, an error that created privacy concerns and the potential for incorrect credit decisions. Even though the issue originated with the vendor, the Data Holder remained accountable under the rules.
How does Cuscal’s Data Holder Solution stack up?
As CDR Specialists, This Is What We Do Every Day. Our Data Holder Solution for Non-banking Lenders is purpose-built to meet the rigorous demands of the CDR regime. We don’t just support compliance; we embed it into every layer of our platform. Here’s how we deliver peace of mind through three core assurances:
1. No Data Storage – Zero Retention of consumer CDR data
We never store consumer CDR data. By design, our solution minimises security and privacy risks with strict policies on data storage and segmentation, ensuring that:
There is no persistent storage of CDR payloads.
The risk of data comingling across environments, clients, or systems is eliminated.
You maintain full control over your data lifecycle, with no shadow copies or residual data left behind.
2. Bank Grade Controls – Security You Can Trust
As an Authorised Deposit-Taking Institution (ADI), we operate under CPS 230 and CPS 234-aligned operational risk and information security controls, which exceed standard CDR requirements. Our platform includes:
End-to-end encryption, and secure API gateways
Segregated environments to prevent cross-client data exposure
Access controls and audit trails that meet APRA and OAIC expectations
Continuous vulnerability management and penetration testing
3. Built-In Transparency – Compliance Without Guesswork
Transparency is not an add-on—it’s built into our service model. We provide:
Relevant 9.4 Biannual reporting metrics captured by Cuscal provided to Clients.
Client attestation reports to support your internal governance and external reporting
Monthly Raw data reports for Consent volumes.
We’re not just supporting your compliance, but your assurance as well.
Selecting Your Data Holder Partner: Key Criteria and Questions
With accountability ultimately resting with the Data Holder, the partner you choose plays a critical role in helping you meet your CDR obligations with confidence. A well-designed solution shouldn’t add complexity. It should simplify compliance, strengthen governance, and give you visibility over how your customer data is handled.
When assessing potential providers, look for partners who demonstrate clear alignment with regulatory expectations, transparent operating models, and controls that support secure, accurate, and reliable data sharing at scale.
Below are key questions and considerations to guide your evaluation:
Data Handling Model
How do you ensure CDR data is kept strictly separate from other datasets?
Do you use dedicated environments for CDR data processing and storage?
What safeguards are in place to prevent unauthorised access or any mixing of CDR and non-CDR data?
Do you store any CDR related Data on behalf of Data Holders?
Compliance Monitoring
How do you stay up to date with changes to CDR rules and requirements?
What processes do you have for regularly reviewing and updating your compliance controls?
How do you support ongoing staff security awareness and compliance training?
Transparency & Reporting
Do you provide clear, timely reporting that gives Data Holders visibility into your controls and performance?
Can you support biannual reporting to the regulators?
Do you have experience preparing attestation and assurance reports?
How do you notify clients about material service changes involving CDR data?
Can you provide metrics on consumer data requests and deletions?
Want to learn more about Cuscal’s Data Holder Solutions?
If you haven’t started planning or are still evaluating Data Holder Solutions, we can help.
Find out more about our CDR Solutions, or get in touch to discuss how we can support your CDR compliance journey.
Important Information: Information in this article is current as at 17 December 2025 and is subject to change. This article represents the opinions and views of the personal experiences of the panellists only. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business Cuscal Limited ABN 95 087 822 455.
Cuscal Limited (ASX: CCL) today proudly announced the successful completion of its acquisition of Indue Limited (Indue), (the Acquisition), marking a transformative milestone in Australia’s payments industry. This strategic transaction unites two culturally aligned businesses with a strong heritage in the mutual banking sector and a shared commitment to innovation, resilience, and operational excellence.
Why This Matters The Acquisition strengthens Cuscal’s position as a leading payments and regulated data services provider, enabling further diversification and a stronger growth trajectory. Together, Cuscal and Indue will deliver enhanced capabilities across digital banking, fraud monitoring, switching, and regulated data services, empowering financial institutions, fintechs, and corporates to thrive in a rapidly evolving market.
Craig Kennedy, Managing Director of Cuscal, said:
“The Acquisition is a highly compelling and strategic transaction that marks a significant milestone in Cuscal’s growth journey. It will deliver substantial returns for our shareholders and enhanced outcomes for our clients via greater resilience, operational efficiencies, and innovation at scale. We are delighted to welcome the Indue team and look forward to building on our combined strengths.”
Benefits for Clients and Partners
Enhanced product and service offerings: operational efficiencies and innovation at scale.
Improved resilience: across capital and capabilities that better positions the combined business to respond to heightened regulatory standards, complexity, and cost.
Increased investment capacity: that will enable greater innovation and investment in best-of-breed resources and capabilities to continue to deliver services both now and into the future.
Cuscal has significant expertise in integrations and large-scale client migrations, and we’re committed to making the transition smooth for all our clients and partners, with uninterrupted service.
We’re excited about the future we’re building together, strengthening payments and regulated data services while ensuring Australians can bank with the institutions they know and trust.
Better Together The Acquisition is an important step in Cuscal’s growth journey. By combining strengths, we will help more Australians access fast, secure, and innovative payment and regulated data services, ensuring they can bank and transact with the institutions they know and trust.
About Cuscal Cuscal is a leading payments and regulated data services provider, connecting banks, fintechs, and corporates to Australia’s payments infrastructure since 1966. Our mission is to partner with forward-thinking businesses to deliver innovative and secure payment solutions that drive growth in the economy.
Cuscal Limited (ASX:CCL) (Cuscal or the Company) has been recognised as the Best IPO Listing at the Adam Smith Awards Asia 2025.
The Award recognises Cuscal’s disciplined execution, strategic positioning and strong investor engagement ahead of its successful listing on the Australian Securities Exchange (ASX) on 25 November 2024, with the Company having attracted strong interest.
Today, Cuscal also celebrates its first anniversary as a listed company. The company continues to perform strongly, having delivered a maiden full year result that exceeded its Prospectus profit forecast, as well as announcing the proposed acquisition of Indue Limited (Indue).
Cuscal Managing Director, Craig Kennedy, said winning the Award is a testament to the Company’s strong foundations and collaborative culture.
“Receiving this Award is an honour and reflects the strong fundamentals of our business, the support of our clients and shareholders and the hard work and disciplined execution of our team and advisers in delivering a successful IPO in a challenging market.”
“An IPO is an important milestone in the growth journey of any company, and for Cuscal it will enable us to continue investing in innovation and delivering trusted payments services for our clients.”
“Awards are a nice outcome, but our real ambition is to continue to deliver innovative solutions for our clients and strong returns for our shareholders. To have delivered on both those goals since listing is validation of our efforts, and we look forward to continuing to do so as we grow.”
About Cuscal As a leading payments and regulated data services provider, Cuscal has played a key role in the Australian financial ecosystem since its foundation in 1966. Cuscal’s offerings connect banks, Fintechs, and corporates to Australia’s payments infrastructure, delivering reliability, resilience, and innovation.
Ray Ang found her purpose in an unexpected place: the complex world of financial data. As Senior Manager for Data Platforms, Governance and Data Risk at Cuscal, she is driven by the real, everyday impact payments have on people and communities. In this Q&A, our Women in Payments Awards nominee, shares how her team ensures data integrity across every transaction and why engaging diverse stakeholders is the key to success.
Could you tell us a bit about yourself and your role at Cuscal?
I’ve been at Cuscal for a year now. I initially joined as a Senior Manager for Data Governance to build a team focused on uplifting Cuscal’s overall ways of governing our data, in line with the regulatory requirements of being a financial institution.
Most recently, I’ve taken on additional responsibility, leading the team that manages our Data Platforms, Governance, and Data Risk. In this role, I set the direction for how we manage data and its associated risks across the entire lifecycle, ensuring we treat data as a strategic asset. This includes overseeing the development of new data solutions and strengthening data management and governance practices across Cuscal.
What’s the most interesting or exciting part of growing your career at Cuscal?
The environment at Cuscal is quite different from a large organisation. I previously worked at one of the “Big Four”, where I was very deep into one specific component of a large framework.
At Cuscal, I can focus on breadth rather than depth. I’ve been able to contribute my experience across different knowledge components, ensuring I can manage the whole data lifecycle and contribute widely, while leaving the deep specialisation to the experts on my team. The ability to drive end-to-end strategy here is far more exciting than at a big bank.
What sparked your initial interest in the payments industry, and how has your journey evolved since then?
Sometimes, working in a corporate data role, it’s difficult to explain to people how you meaningfully contribute to the community’s day-to-day life. My partner works at a hospital and sees that tangible impact every single day. In payments, we also make a difference, but it’s not always immediately visible to everyone.
The reason I moved to payments was that I wanted to find more purpose in my field. Now, I can directly see how I’m helping the Australian community make those essential daily payments at the grocery store or the medical centre.
We are a B2B organisation, serving banks, mutual banks, and fintechs so their customers can have real-time payments and more. My team manages the critical controls between our core systems and the settlement reports we send to our clients for regulatory compliance. If the data is incorrect, our clients cannot comply with financial regulations. Our work is crucial for ensuring transactions are accurate and reliable. That’s how my team helps keep the financial ecosystem running smoothly.
Can you share a pivotal moment or challenge in your career that shaped who you are today?
Early in my career, I was in management consultancy. I started as a graduate and was quickly exposed to how different industries operate and how to communicate with diverse stakeholders – from the C-Suite and middle management to the people actually executing the work. That was pivotal because it helped me build the skills needed to connect with, talk to and understand how any organisation operates.
In my data leadership role at Cuscal, I focus on bridging the gap between diverse data needs across the organisation. Everyone has different requirements for data, and it’s critical to understand the key outcomes expected by stakeholders—from data engineers to senior leadership. Whether it’s a request for NPP (New Payments Platform) statistics or RBA compliance, I interpret these needs and translate them into actionable tasks for my team.
This ability to communicate effectively at multiple levels and turn complex requirements into meaningful insights has been fundamental to my career—and it’s what makes data a true strategic asset at Cuscal.
What do you believe are the most significant changes or opportunities in the payments industry right now?
The payments industry is evolving rapidly from cash and cheques, to cards and now to instant payment products, like PayID®and NPP. Customers today expect speed, convenience and security, and that expectation is driving innovation.
The biggest opportunity lies in using data to understand how customers interact with payment products. These insights allow us to design solutions that are faster, smarter and more relevant. For Tier 2 and mutual banks, this is critical to staying competitive and trusted in a market dominated by larger institutions.
Another major shift is the rise of scams and fraud, which makes it essential to build resilient payment infrastructure that can withstand these threats while ensuring secure and seamless delivery of payments. Combining strong governance with innovation will be key to creating safe, reliable and customer-focused solutions.
Consumers should be given more options, empowering them to access payment solutions that suit their lifestyle while maintaining trust and security. The focus must be on innovating and delivering safe, compliant and customer-focused payment products that meet evolving expectations.
What advice would you give to others, especially women, looking to build a career in payments?
This is an area where, unfortunately, we don’t see as many women. My advice to women, or anyone curious about payments and data, is that there is space for you if you are willing to learn. If you are curious, step into it. Find mentors who can encourage you to look beyond the current workforce, which is still quite male-dominated in this specific field.
Ultimately, you are the only person who can provide yourself with that opportunity. Don’t let yourself be the one who limits your potential.
Cuscal is proud to nominate Ray for a prestigious Women in Payments Award. These awards honour women payments professionals who have demonstrated exceptional leadership, innovation and promise. Find out more about the awards.
PayID® is a registered trademark of NPP Australia Limited.
Important Information: Information in this article is current as at 19 November 2025 and is subject to change. This article represents the opinions and views of the personal experiences of the panellists only. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business. Cuscal Limited ABN 95 087 822 455.
The payments industry is evolving faster than ever – and Lalita Babu is always one step ahead. Cuscal’s Senior Manager for Group Operational Risk has built a remarkable career on anticipating challenges before they arrive. In this Q&A, our Women in Payments Awards nominee discusses why self-education is non-negotiable, how to stay proactive in a reactive industry, and the major shifts reshaping operational risk in payments.
Could you tell us a bit about yourself – both your role at Cuscal and what you enjoy outside of work?
As Senior Manager for Group Operational Risk at Cuscal, my primary role involves driving the implementation of our risk management framework and actively partnering with the business. This ensures that all operational risks are managed effectively and remain within our defined risk appetite.
Outside of work, I really prioritise family time. Friday evenings are a ritual for my husband, kids and me – we play board games! It’s a great way to unwind after a busy week and set us up for the weekend.
What’s the most interesting or exciting part of growing your career at Cuscal?
I’ve been at Cuscal for four-and-a-half years and have moved through three roles: Compliance Manager for Open Banking, Domain Risk and Compliance Manager, and finally to Senior Manager of Group Operational Risk.
Naturally, I love learning, and Cuscal provides the perfect ground for it. No two days are the same in this fast-paced environment. Each new challenge is an opportunity to improve.
My career progression here has been exciting because each move broadened my expertise. I went from focusing on consumer data rights to managing the entire breadth of Cuscal’s operations, including payments, fraud, data issuing and acquiring, before moving into group-wide oversight and advisory. It’s helped me grow continuously in knowledge and breadth.
What sparked your initial interest in the payments industry, and how has your journey evolved since then? Although I’ve been in financial services since 2005, my interest in the payments industry was sparked around 2018, when I began reading about data protection laws, such as Europe’s GDPR, and following Australia’s plan for the Consumer Data Right. When the open banking opportunity came up at Cuscal in 2021, I was ready to jump in.
Joining Cuscal was my real entry point into payments. I started learning about the entire payment processing value chain – from merchants and banks to payment processors and schemes. What I’ve realised is that this industry has evolved so rapidly due to new technology and changing consumer behaviour – we demand everything to be fast, quick and secure.
As a risk and compliance person, my mindset is always focused on what can go wrong in any process. This forces me to analyse the entire function and proactively prepare for risks. Self-learning has been key; you can never claim to know everything because something new comes up every single day.
Can you share a pivotal moment or challenge in your career that shaped who you are today?
I spent almost 13 years working in superannuation. At one point, I realised I needed to look outside my current domain. So, I decided to pursue a master’s degree in law to gain formal education on how to read and interpret legislation, case law and actual scenarios.
This was a turning point because it taught me that you don’t need to be bound by where you are currently working; you can always expand your knowledge if you’re ready to learn and put yourself out there.
That self-investment allowed me to successfully take the opportunity at Cuscal in 2021. Even though I was in superannuation, I had been following open banking and was prepared to make the transition. That period shaped my career by confirming the importance of not inhibiting yourself from taking those opportunities.
What do you believe are the most significant changes or opportunities in the payments industry right now?
The payments industry is practically defined by changing consumer behaviour. Consumer needs keep evolving, which drives new technology, innovation and regulations to manage those changes, and tougher competition.
From a risk perspective, fraud and scams are certainly front-of-mind for everyone. The industry needs to secure payments and ensure customers feel protected. Technology, particularly artificial intelligence, is going to play a huge part in preventing fraud and scams.
The other significant opportunity is embedded finance: integrating financial services into non-financial areas. Buy now, pay later is a great example of this. Embedded finance brings new ideas and easier ways of doing things for consumers.
For me, risk management is all about being proactive, not reactive. The more we know about how our world is changing, the better we can prepare.
What advice would you give to others, especially women, looking to build a career in payments?
In the past, people assumed you needed a finance degree to work in the financial sector. Now, I believe it doesn’t matter what your domain of expertise is – there’s always a role if you’re interested in how finance and payments function in the real world.
The most important advice I can give is to prioritise self-learning. Women often have very busy schedules outside of their 9-to-5 jobs, balancing family and other activities. Finding time to invest in your education is critical.
In my own career, making that investment opened doors I didn’t even know existed. We often wait for the “perfect” opportunity, but every single step you take matters. Keep investing time and energy in yourself, and you’ll realise you are preparing yourself for opportunities you didn’t see coming.
Cuscal is proud to nominate Lalita for a prestigious Women in Payments Award. These awards honour women payments professionals who have demonstrated exceptional leadership, innovation and promise. Find out more about the awards.
Important Information: Information in this article is current as at 17 November 2025 and is subject to change. This article represents the opinions and views of the personal experiences of the panellists only. This article is provided for general information purposes only and does not have regard to the situation or needs of any reader and must not be relied upon as advice. Before acting on this information, consider its appropriateness to your business. Cuscal Limited ABN 95 087 822 455.
