Issue: 31 ANZ goes live, more CDR Representatives and Software Products
It’s been a busy fortnight for the Consumer Data Right, ANZ finally joins the other Big Four banks with an active software product, lots of new CDR Representatives and Software Products.
ANZ goes live with their first Software Product - ANZ Plus
Australia and New Zealand Bank (ANZ) has joined the other Big Four banks as an active ADR by launching their new Software Product; ANZ Plus. ANZ is using its ANZ Plus brand for this Software Product.
It’s not clear what purpose the Software Product has.
Consumer Data Standards Release 1.28.0
The regulator has released a new version of the standards.
Release Notes link: V1.28.0 Release Notes
Accounting fintech TaxLeopard pounces on open banking data feeds powered by Envestnet | Yodlee
Melbourne-based accounting fintech TaxLeopard is leveraging open banking data feeds to enhance its bookkeeping software and tax app for self-employed individuals. The app offers a full end-to-end service, including bookkeeping, invoicing, and tax compliance. By integrating with any Australian bank account, the software can track and categorize income and expenses. TaxLeopard aims to support sole traders and the gig economy by combining advanced technology, live data integration, and expert knowledge. The company will become a CDR Representative of Yodlee to access bank transaction data via the Consumer Data Right.
Article link: Accounting fintech TaxLeopard pounces on open banking data feeds powered by Envestnet | Yodlee
Article link: Fintech start-up’s gig economy tax app enables open banking
What Is Open Banking Australia
Long blog on Open Banking in Australia, a quick summary:
Open Banking is transforming the banking landscape in Australia, promoting competition, innovation, and consumer empowerment. With the implementation of the Consumer Data Right (CDR), individuals have greater control over their financial information and can securely share it with trusted third-party providers. Open Banking benefits include improved products, competitive pricing, personalized financial solutions, and increased financial inclusion. Challenges such as data security and privacy require ongoing vigilance, while the future of Open Banking holds promise for innovation, expansion into other sectors, collaboration, and international cooperation. It is crucial for consumers to stay informed, exercise their rights, and be responsible participants in the ecosystem to ensure a fair and consumer-centric Open Banking environment.
Blog link: What Is Open Banking Australia
Waave to ensure continuity for merchants affected by Australia Post's POLi halt
Waave, an expert in Open Banking payment technology, has partnered with Merco to offer continuity to merchants affected by Australia Post's decision to halt POLi. They propose their Pay by Bank service as a smooth checkout alternative, allowing merchants to use their existing POLi integration. Pay by Bank offers a secure and surcharge-free payment method, and under this partnership, merchants only need to change the logo. Waave aims to provide a seamless and secure payment experience while reducing costs for businesses.
POLi Payments Pty Ltd is an online payments company based in Melbourne. It is the developer and provider of POLi, an online payment system that is used by merchants and customers in Australia and New Zealand.
Article link: Waave to ensure continuity for merchants affected by Australia Post's POLi halt
Article link: Waave partners with Merco
Article link: Waave and Merco partner to provide full continuity to POLi-affected merchants with Open Banking alternative
Qippay Announces Strategic Partnership with Westpac NZ to Advance Open Banking in New Zealand
Qippay announces a strategic partnership with Westpac NZ to introduce the Qippay Open Banking payment solution in New Zealand. This partnership aims to address payment challenges, enhance the payment landscape, and offer a simplified way to pay for consumers. Qippay and Westpac NZ share a commitment to innovation and improving operational efficiency. This partnership marks a significant milestone for open banking in New Zealand and empowers businesses and charities in the digital economy.
Quippay blog: Qippay Announces Strategic Partnership with Westpac NZ to Advance Open Banking in New Zealand
Introduction to the Consumer Data Standards
Summary of the Standards.
Youtube link: eIntroduction to the Consumer Data Standards
Frollo - Stuart Low interview
Interesting interview with Stuart Low founder and CEO of Biza.io.
Blog link: Frollo interview Stuart Low
New Software Products
ANZ Plus (Australia and New Zealand Banking Group Limited)
DRSP000181 - ANZ Plus
Active
Basiq Pty Ltd
DRSP000220 - DOUUGH AUSTRALIA PTY LTD
Active
Basiq Pty Ltd
DRSP000223 - FINFITY PTY LTD
Active
Fiskil Pty Ltd
DRSP000225 - Fiskil Connect
Active
CDR Representative Arrangements
Basiq Pty Ltd
Cyber Civic Solutions Pty Ltd
Start date: 30/10/2023
Notes: Strack is a complete solution for strata management.
Web page: https://www.strack.com.au/Basiq Pty Ltd
Moochit Pty Ltd
Start date: 8/11/2023
Notes: Social lending under $2,000.
Web page: https://moochmoney.com/
Basiq Pty Ltd
Ownhome Services Pty Ltd
Start date: 3/11/2023
Notes: Alternate home loan deposit provider.
Web page: https://ownhome.com/
Basiq Pty Ltd
Roundtable Pty Ltd
Start date: 31/10/2023
Notes: Savings app.
Web page: https://raundtable.com.au/
Basiq Pty Ltd
Subscribr Pty Ltd
Start date: 2/11/2023
Notes: Subscribr is a subscription and payment monitoring app.
LinkedIn page: https://www.linkedin.com/company/subscribr-app/
Yodlee, Inc.
Glow Payments Pty Ltd
Start date: 29/10/2023
Notes: Zero-cost instalment plans for employee health and wellness expenses.
Web page: https://www.glowpay.co/