Overview

Considerable work has gone into setting up Consumer Data Right. The regulators have created the regulatory framework as well as the data standards. Providers have been setting up their systems to meet the high standards demanded by Consumer Data Right. They’ve also been focusing on the technical needs, making sure their websites and apps are ready to go. If you’re a provider interested in offering services under Consumer Data Right or you need to register as a data holder, visit our For providers section.

Consumer Data Right is rolling out across banking first. Next, it will be rolled out across the energy sector.

Timeline

July 2019

Australia’s four major banks (Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation) made their product reference data for their standard products publicly available. This is standardised, general information such as interest rates, fees and charges. 

February 2020

Australia’s four major banks made product reference data for mortgages and personal loans publicly available. Only businesses, such as comparison sites, can access product reference data. Product reference data provides information about the features and descriptions of bank products, including interest rates, fees and charges, and eligibility criteria. 

July 2020

Consumer Data Right launches.

Customers of the four major banks can share their banking data from a range of personal accounts (for example, savings accounts and term deposits).

November 2020

Customers of the four major banks can share their banking data from home loans and personal loans. Joint accounts, closed accounts, direct debits, scheduled payments and payees will also be available. 

Consumer Data Right will be implemented in energy next.

Phasing infographic PDF 255.05 KB Infographic summary of mandatory data sharing obligations for authorised deposit-taking institutions (ADIs). 19 January 2021

Rectification schedule

Following the release of additional Consumer Data Right data sets for sharing from 1 November 2020, the 4 major banks are working to provide a number of outstanding deliverables to consumers. The ACCC has agreed to a rectification schedule with each of the banks to address these areas.

Australia and New Zealand Banking Group (ANZ)

Implementation gap

Phase 2 status as at 1 November 2020

Remediation timeframe

Update

Account details

Account Detail API available but with some data field omissions. Including product attributes such as discounts and fees, and some funds management accounts distributed through third parties.

1 February 2021

Completed 1 February 2021.

Commonwealth Bank of Australia (CBA)

Implementation gap

Phase 2 status as at 1 November 2020

Remediation timeframe

Update

Account details

CDR consumers unable to share the following Account Detail information:

  1. Account level address data for phase 1 and 2 products
  2. Bundle name data for phase 1 and 2 products
  3. Offset account ID data for offset account products
  4. ‘IsActive’ account feature data element is not available for deposit, transaction, credit card and offset accounts.
  5. Account level pricing information, associated with the Account Detail API as follows:

    5(a) For term deposit products: lodgement date, maturity date, maturity amount, maturity currency, and maturity instructions
    5(b) For credit card products: additional card holder fee, and balance transfer rate
    5(c) For deposit account products and transaction account products: overdraft excess interest rate and staff assisted withdrawal.

Items 1, 2, 3 and 4 –1 February 2021

Item 5(a) –1 April 2021

Item 5(b) –1 July 2021

Item 5(c) –1 May 2021

Items 1, 2 and 3: completed 1 February 2021.

 

Item 4: CBA has enabled 7 of 24 feature activation flags (isActivated). Revised remediation timeframe for remaining feature flags: 30 April 2021.  

Closed accounts

CDR consumers unable to share consumer data from closed accounts.

1 February 2021

Completed 1 February 2021.

Scheduled payments

 

CDR consumers unable to share their Scheduled Payments API data in the following scenarios:

  1. Scheduled payment data relating to joint accounts will not include scheduled payments setup by the other joint account holder.
  2. Scheduled payments created by frontline CBA staff on behalf of the customer will not be available. 

Item 1 –1 May 2021

Item 2 – 1 November 2021

 

Direct debits

 

CDR consumers unable to share direct debit data for home loan and personal loan repayments, and credit card automatic repayments.

1 July 2021

 

Customer detail

 

CDR consumers unable to share the following customer detail data:

  • The ‘IsPreferred’ flag, that is, CBA will not return the preferred method of contact when the Customer Detail API is called.
  • The ‘state’ field for international addresses.

1 May 2021

 

Transaction detail

 

CDR consumers unable to share the following:

  • Transaction description for Repayment/Payment transaction types will not reflect the customer description entered when the transaction was executed
  • Merchant codes will not be returned for home loans, personal loan, and Mortgage Interest Saver account (with the exception of Everyday Offset accounts).

1 July 2021

 

National Australia Bank (NAB)

Implementation gap

Phase 2 status as at 1 November 2020

Remediation timeframe

Update

Account details

CDR consumers unable  to share Account Detail API information.

27 November 2020

Completed 26 November 2020.

Closed accounts

CDR consumers unable to share data in relation to individual and joint accounts that have been closed within the previous 12 months. Account Detail API for closed accounts also not available.

NAB proposes to activate a solution at a date no later than 30 April 2021. All accounts closed from that point in time will be available for data sharing. NAB will continue to build up a full complement of closed accounts as the data is progressively collected.

30 April 2021

 

Joint accounts

CDR consumers unable to share data from joint accounts.

27 November 2020

Completed 26 November 2020.

Concurrent consent

CDR consumers’ ability to hold more than one consent with an ADR at any one time is impacted. Until concurrent consent capability is fully deployed, NAB will not return cdr_arrangement_id in the Token and Introspection endpoint response. ADRs will have to call the existing Revoke by Refresh Token / Access Token endpoint.

31 January 2021

Completed 14 January 2021.

Westpac Banking Corporation (Westpac)

Implementation gap

Phase 2 status as at 1 November 2020

Remediation timeframe

Update

Account details

CDR consumers unable to share the following Account Detail API information:

  • No information available for credit cards
  • Product specific information and fees not available for mortgages
  • Fees associated with foreign transactions / accounts are not available for transactions and savings accounts
  • Account features are not available for any products.

1 February 2021
  • Revised remediation timeframe for credit cards: 1 April 2021 (except for Annual fee, Smart Plan charge, Paper statement fee and Rewards fee which will be completed by 18 June 2021)
  • Product specific information and fees completed for mortgages on 1 March 2021
  • Most foreign account fees completed on 12 February 2021. Foreign transaction fee remains outstanding, with revised remediation timeframe: 1 April 2021
  • Account features completed for all relevant products except for credit cards on 16 December 2020.

Scheduled payments

 

CDR consumers unable to share international scheduled payments or branch initiated periodic scheduled payments.

1 February 2021

Completed
16 December 2020
Closed accounts

CDR consumers unable to share data from closed:

  • deposit accounts
  • credit cards
  • mortgages
  • personal loans.
 1 February 2021

Deposit accounts, mortgages and personal loans completed on 1 February 2021.

Revised remediation timeframe for closed credit cards: 1 April 2021.