Open Banking is a component of the Consumer Data Right (CDR), introduced by the Federal Government to give customers rights to their data.
There are a number of stages in the CDR rollout. MOVE Bank is currently sharing product data with developers in accordance with the requirements. If you are a developer, please click here to access the API.
How does open banking help me?
Under the CDR legislation, you will be able to request access to and correct CDR data about you. You will also be able to authorise us to share this data with accredited persons.
To find more information about who is accredited to receive data as part of open banking, read here.
If you opt in to share information with an accredited third party, there are a range of security measures in place to protect it.
All participants under Open Banking which send and receive data must be accredited by the Australian Competition and Consumer Commission (ACCC) which have set strict security standards and accreditation criteria.