CDR
RegulationsConsumer Data Right
Definition
The Consumer Data Right is Australia's economy-wide data portability framework. It started with Open Banking and is expanding to other sectors including energy and telecommunications. CDR gives consumers greater control over their data and enables data sharing with accredited recipients.
What is Consumer Data Right?
The Consumer Data Right (CDR) is Australia's groundbreaking economy-wide data sharing framework. Unlike PSD2 which focuses solely on banking, CDR is designed to roll out across the entire economy, giving consumers the right to access and share their data in any designated sector. Starting with banking in 2020, CDR has expanded to energy and is planned for telecommunications and other sectors. The CDR is administered by the ACCC (Australian Competition and Consumer Commission) and OAIC (Office of the Australian Information Commissioner).
CDR Timeline
CDR legislation passed - Treasury Laws Amendment (Consumer Data Right) Act 2019 becomes law
Banking Phase 1 - Major banks required to share product reference data and consumer data
Banking Phase 2 - All ADIs (Authorized Deposit-taking Institutions) covered
Energy CDR goes live - Electricity retailers and distributors begin sharing data
Action Initiation - Ability to not just read but also initiate actions (like payments)
Telecommunications and other sectors designated for CDR expansion
CDR Sectors
Banking
LiveAll ADIs (banks, credit unions, building societies) must provide CDR data access for transaction accounts, savings, credit cards, mortgages, and personal loans.
Energy
LiveElectricity retailers and distributors share consumption data, billing, and connection details to enable comparison services and energy management apps.
Telecommunications
PlannedMobile and internet providers will share plan details, usage data, and billing to enable easier switching and comparison.
Non-Bank Lending
PlannedBuy-now-pay-later providers and other non-bank lenders to be included in CDR.
CDR vs Open Banking (UK/EU)
| aspect | cdr | open Banking |
|---|---|---|
| Scope | Economy-wide (banking, energy, telecom, more) | Financial services focused |
| Regulator | ACCC (competition) + OAIC (privacy) | Financial regulators (FCA, NCAs) |
| Accreditation | CDR accreditation with ACCC | TPP registration with financial regulator |
| Read Access | Yes - consumer data sharing | Yes - AIS (Account Information Services) |
| Write Access | Action Initiation (rolling out) | PIS (Payment Initiation Services) |
Related Terms
Frequently Asked Questions
What is CDR in Australia?
CDR (Consumer Data Right) is Australia's data portability framework that gives consumers the right to share their data with accredited third parties. It started with banking (Open Banking) and is expanding to energy, telecommunications, and other sectors across the economy.
How is CDR different from Open Banking?
CDR is broader than traditional Open Banking. While UK/EU Open Banking focuses on financial services, CDR is designed to cover the entire economy. It includes banking but also energy, telecommunications, and potentially superannuation, insurance, and health data in the future.
Who regulates CDR?
CDR is jointly regulated by the ACCC (Australian Competition and Consumer Commission) for accreditation and competition aspects, and the OAIC (Office of the Australian Information Commissioner) for privacy aspects.
What data can I share under CDR?
In banking: account balances, transaction history, account details, direct debits, scheduled payments, and saved payees. In energy: electricity usage, billing data, and connection details. More data types are being added as CDR expands.
How do I become CDR accredited?
You must apply to the ACCC for CDR accreditation. Requirements include demonstrating privacy safeguards, information security capabilities, adequate insurance, and fit and proper person tests for key personnel.
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