Consumer Data Right

In detail

The Consumer Data Right (CDR) is a framework legislated under the Competition and Consumer Act 2010, administered by the ACCC and the OAIC. It gives consumers the right to direct designated data holders (initially banks, then energy retailers, and progressively other sectors) to share their data with accredited data recipients in a standardised, consent driven way. The Open Banking implementation uses the Consumer Data Standards published by Data61. Accredited recipients must meet strict security, privacy and consumer protection requirements. CDR is distinct from screen scraping because data flows directly via API under explicit consumer consent.