Sydney, 23 September 2022
Cuscal Limited, Australia’s largest industry provider of payment solutions for the Australian financial services sector, was granted accreditation to participate in the Consumer Data Right (CDR) as an unrestricted accredited data recipient by the Australian Competition and Consumer Commission (ACCC) this week.
Announcing Cuscal’s accreditation, Jamie Leach, Domain Lead for Regulated Data Services at Cuscal said:
Accreditation at the unrestricted level is a critical pillar of our regulated data strategy. Following the successful implementation of solutions to support clients manage their ongoing CDR data holder obligations, accreditation allows us to develop further and evolve our service offering to support clients develop high-value data recipient use cases as they pursue greater internal efficiencies and enhance the customer experience they offer.
Kieran McKenna, Chief Risk Officer at Cuscal added:
With a mature Risk, Compliance and Governance structure in place, we are working at pace with the ACCC to complete the onboarding process to fast-track a future where we can support more organisations to participate in the CDR. As an ADI regulated by APRA, we have over 50 years of experience sponsoring clients into the highly regulated payments system. With CDR accreditation we will provide similar services as an intermediary, sponsoring enterprises to participate in the CDR ecosystem.
Enabling end-to-end digital commerce
With the Federal Government regulating data across the economy, Cuscal is focused on building a platform that simplifies access to the wider regulated data ecosystem, beginning with data sharing via the CDR and the newly launched payment method PayTo.
Commenting on Cuscal’s strategic investment in regulated data services, Jamie Leach said:
Uniquely positioned at the intersection of data and payments, accreditation as a data recipient builds upon our trusted industry position and heritage in payments and banking and will enable Cuscal to offer a depth and breadth of regulated data services to Australian enterprises that will be unrivalled in the market.
About Cuscal
For more than 50 years, Cuscal has championed competition in banking and payments in Australia. More recently, Cuscal has moved beyond banking and payments into the broader data economy. Drawing upon extensive experience managing payments data that is digital, regulated, must always be secure, and flows seamlessly between consumers and enterprise, Cuscal provides data holders and data recipients access to a suite of secure and robust capabilities for the collection, sharing, management and storage of data subject to CDR legislation.
Media contact
Simone Perryman, sshields@cuscal.com.au
