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Sydney, Australia – 11 December 2024 – CDR Ready, a free tool to help Australians with the move to Open Banking has received accreditation by regulators and is now an Accredited Product under the Consumer Data Right (CDR).
What is CDR Ready?
CDR Ready is a free online tool that all Australians can use to see which of their bank accounts are available to access and share through the Consumer Data Right, commonly known as “Open Banking”. In particular, CDR Ready helps people with non-individual accounts (most commonly small businesses) see if they are the ‘nominated representative’ on their accounts – a vital status if they wish to access and share data from that account under the CDR.
Why is CDR Ready Important?
- Helping Small Businesses use Open Banking: Many small businesses are unfamiliar with Open Banking / CDR. This app helps them ensure they are able to access their accounts under Open Banking.
- Free and Simple: CDR Ready is free to use – it costs Aussie nothing to check they can access their accounts.
- Reduce cyber risk: CDR is a vital step towards lowering the risk of online fraud. Other commonly used data sharing mechanisms require users to disclose online banking credentials. Under the strict CDR regulations, customers never need to disclose their credentials to a third party.
“CDR Ready is about making Open Banking easy and accessible for all Australians, especailly small businesses. We’ve designed the tool to be user-friendly and practical, so everyone can take advantage of the opportunities CDR offers,” said Grant Augustin, CEO and Founder of ACSISS.
Leadership in Open Banking
CDR Ready highlights SISS Data Services’ commitment to leading the way in Open Banking. With the online tool now listed as a CDR-accredited product, and available for free, Australia has taken another step toward making Open Banking work for everyone.
About SISS Data Services
Founded in 2011, SISS Data Services specialises in delivering secure and reliable access to bank transaction data through its ACSISS range of products. Initially established through direct connections with all major Australian banks, SISS has emerged as a leader in Open Banking and is an Accredited Data Recipient (Accreditation No.: ADRBNK000158) for the Consumer Data Right.
Website: www.acsiss.com.au
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