How it works

What happens first?

You’ll get started on an accredited provider’s website or app. The whole process takes less than two minutes. Then, the underlying technology does all the work for you. The data transfer is done between the providers, but the Australian Government oversees the overarching framework.

See how it works in the video below.

The step-by-step process

Give consent

You give permission for the provider to access your personal or business data. This will be on the provider’s website or app.
Identity check

Your identity is verified by your existing provider via a One Time Password.
Digital link

The website or app then links to your existing provider’s website or app where you confirm the data that you’d like to share. You’ll be able to see and manage the data you’ve consented to share and can withdraw consent at any time.
Data is shared between providers

Data is then transferred to the prospective provider in a machine-readable format.
Start using provider’s service

You can then start using the accredited provider’s service. For example, if you’ve decided to share your data with a comparison website, you’ll be ready to receive accurate quotes and product comparisons based on your real data.

How the technology works

The technology behind the data transfer process uses something called application programming interfaces (APIs). This means when data is transferred to an accredited provider it’s all done electronically and automatically. The format and process for sharing Consumer Data Right data has been set up by the Data Standards Body (DSB).

Who decided how it works?

Australia’s Consumer Data Right has been set up by the Australian Government. The goal is to benefit the Australian public and economy. The process is led by the Treasury, working closely with the Australian Competition and Consumer Commission (ACCC) and the Office of the Australian Information Commissioner (OAIC). The data standards have been developed by the DSB. At each stage of the Consumer Data Right system’s development, there have been public consultations. Feedback from industry stakeholders and community representatives has helped shape the way Consumer Data Right works.