Issue 2: September 2022 update more Software Products and CDR Representative Arrangements
A lot of activity in the CDR Representatives this week with new Software Products and new entrants. CBA has lunched PayTo and a clean up of some of the ADR has occurred in the registry.
CBA modernises payments with PayTo
CBA becomes the first bank to offer the new NPP based PayTo. A further push to allow customers to manage their transactions using their banking app.
Link: CBA modernises payments with PayTo
Volt and Suncorp-Metway no longer listed as ADRs
Volt having been removed as a Data Holder has now been de-listed as a ADR. Additionally Suncorp-Metway’s is no longer listed as an ADR.
Volt Bank becomes the first Data Holder to be removed from the ecosystem
Volt having completed the return of depositor funds and have now become the first Data Holder to be officially removed from the ecosystem. The last of the deposits that were not claimed have been transferred to National Australia Bank.
Does channel conflict still exist?
Interesting mortgage broker article in which Open Banking is seen as a way remove channel conflict.
Article link: Does channel conflict still exist?
TrueLayer withdraws from the Australian Open Banking market
TrueLayer has made a strategy decision to move back to the UK market. They have not handed back their accreditation but are not planning on any Australian activity.
RBA envisions “well-regulated stablecoins”
Interesting article around the RBA’s view of how digital currency can be established.
Article Link: RBA envisions well regulated stablecoins
Banks side with Big Tech to reject rules to keep data in Australia
Interesting article on data storage.
Article Link: Banks back data offshoring
Bendigo and Adelaide Bank appoints youthful director
Alistair Muir has been appointed a director of Bendigo and Adelaide Bank. He has been working in advisory and has an interest in Open Banking.
Article Link: Bendigo and Adelaide Bank appoints youthful director
Software Products
Basiq lunches four new CDR Representative Software Products:
DRSP000099 - CapitalRoad Services Pty Ltd
Status: Active
DRSP000101 - Beforepay Ops Pty Ltd
Status: Active
DRSP 000110 - PAY.COM.AU PTY LTD
Status: Active
DRSP000111 - Sucasa Loans Pty Ltd
Status: Active
CDR Representative Arrangements
Basiq and Yodlee have continued to entet into CDR Representative Arrangements:
ADR Principal: Basiq Pty Ltd
Sucasa Loans Pty Ltd
Start date: 1/9/2022
Notes: An early-stage startup focusing on finance
ADR Principal: Basiq Pty Ltd
PAY.COM.AU Pty Ltd
Start date: 31/8/2022
Notes: Business payments provider offering reward points.
https://pay.com.au/
ADR Principal: Basiq Pty Ltd
Sharesies Australia Limited
Start date: 01/10/2022
Notes: An online share investment app, https://sharesies.com.au/
ADR Principal: Yodlee, Inc
Lumiant Pty Ltd
Start date: 09/09/2022
Notes: A financial planner client lifestyle planner tool, https://www.lumiant.com.au/
ADR Principal: Yodlee, Inc
Symes Warne & Associates Pty Ltd
Start date: 14/09/2022
Notes: A financial planners, https://www.swafinancialplanning.com.au/