Data: this Australian model that intrigues European banks

Heading to Australia. While Europe is thinking about modernizing its regulations governing data (banking in particular), the Commonwealth member country would almost be an example in the eyes of the banks of the Old Continent. “Australia has managed to find a balance in the discussion,” said Wim Mijs, the director general of the European Banking Federation (EBF), during a recent seminar.

Coming into force in 2020, the Australian Consumer Data Right (CDR) would have, in the eyes of the industry, found a happy medium, making it possible to exchange customer data, but while allowing consumers, with great ease use, whether or not to accept the circulation of data.

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