Mastercard’s call to save open banking

The fledgling consumer data right is relying on federal Treasury to make a series of fixes in the next few months that will determine if the visionary microeconomic reform realises its potential to boost competition across the economy.

The consumer data right (CDR), launched in July 2020 in the financial services sector as “open banking”, promising to create an easy and regulated way for consumers to control and share data between alternative services providers.