FAQs

What is the Consumer Data Right (CDR)?

The Consumer Data Right (CDR) is legislation that 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 share their data, held by data holders (e.g., Banks), with accredited data recipients (e.g., Comparison websites), to access goods and services.

Once the consumer consents to share their data and is authenticated, it is shared via secure, standardised APIs, which means it is transferred electronically and automatically.

Granting data recipients with access to accurate, detailed data in a timely manner enables them to create competitive services for consumers. For example, lenders can streamline their lending applications and offer instant decisioning, or comparison websites can use a consumer’s real data to suggest the best offers in the market, tailored to their needs.

To see how the CDR works for consumers, try out myCDRdata, Cuscal’s live, accredited data recipient platform.

The government has future plans to expand the CDR across new industries, which means more data will be available for sharing.