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Consumer Data Right FAQs

Frequently Asked Questions

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We answer your frequently asked questions about Cuscal along with our payments and data solutions.

Consumer Data Right

What is the Consumer Data Right (CDR)?

The Consumer Data Right (CDR) was introduced by the Australian Government in 2019 to digitally transform the economy and give consumers more control over their own data. The aim is to foster competition between service providers, leading to greater consumer choice, convenience, and value. The CDR is an opt-in framework that allows consumers to safely […]

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What sectors are covered by the Consumer Data Right (CDR)?

The Consumer Data Right (CDR) is set to roll out across various sectors of the economy. It has already been implemented in the banking and energy sector, with non-bank lending next in line.  To read more about the rollout of the CDR, you can visit the official CDR website.

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What data is shareable under the Consumer Data Right (CDR)?

Data sets that must be shared under the Consumer Data Right (CDR) are specified in the legislation and include both product reference data and personal consumer data. Product reference data is public product information that is not tied to an individual consumer. For example, interest rates, fees and eligibility criteria for products like credit cards […]

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What is Open Banking?

Open Banking refers to the application of the Consumer Data Right (CDR) to the banking sector. It refers broadly to the sharing of banking data via the CDR ecosystem. Since banking was the first sector to participate in the CDR ecosystem, you may hear people use the phrase ‘Open Banking’ interchangeably with the ‘Consumer Data […]

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Who enforces the Consumer Data Right (CDR)?

The Australian Competition and Consumer Commission (ACCC) ensures that data holders and accredited data recipients are complying with the Consumer Data Right (CDR) legislation and takes enforcement action where necessary. The Office of the Australian Information Commissioner (OAIC) is responsible for regulating privacy and confidentiality under the CDR. The OAIC also handles complaints and notifications of […]

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What is a data holder?

A data holder is an organisation that meets the following criteria: Operates in a sector that has been designated under Consumer Data Right (CDR); Holds the type of consumer data that is covered by the legislation; and Is specified within the legislation to have an obligation to share consumer data when requested by a CDR […]

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What is an accredited data recipient?

An accredited data recipient is an organisation that has met the requirements outlined by the Australian Competition and Consumer Commission (ACCC) to securely access and use data from data holders with a consumer’s explicit consent, in order to provide a service. Becoming an accredited data recipient enables businesses to provide highly personalised services and improved […]

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What are reciprocal data holders?

As the CDR rules were developed, the principle of reciprocity was built into the legislation.  Reciprocity is the concept that those who receive data under the CDR, should also be required to disclose equivalent kinds of data they hold in relation to the customer, with their explicit consent. Reciprocity is directed at growing the ecosystem […]

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What is action initiation?

Action initiation, also referred to as ‘write access’ is a proposed new, powerful layer of the Consumer Data Right (CDR) which, if implemented, will enable consumers to direct accredited action initiators (accredited data recipients) to instruct action service providers (data holders) to perform actions on their behalf. These actions include making a payment, opening, and […]

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What Consumer Data Right (CDR) solutions does Cuscal offer?

Significant resources are required to build, maintain and uplift the technical platforms and operational processes that underpin the Consumer Data Right (CDR). As a  reliable CDR partner, Cuscal provides the infrastructure and connectivity solutions businesses need to connect to this open data ecosystem. Cuscal has leveraged nearly  60 years of experience managing sensitive payments data, […]

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How is the Consumer Data Right (CDR) data different to open data?

The Consumer Data Right (CDR) data refers to the use of open standards and technologies in designated sectors (i.e., banking and energy). This enables customers (i.e., consumers or businesses) to provide explicit consent for the secure sharing of CDR data held about them, by a data holder , with an accredited data recipient under a […]

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Where can I get more information about the Consumer Data Right (CDR)?

For more information on the Consumer Data Right you can visit the following official websites: Australian Government CDR Australian Competition and Consumer Commission (ACCC) Office of the Australian Information Commissioner

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