Consumer Data Standards- CDS

The Consumer Data Standards Program, part of The Commonwealth Scientific and Industrial Research Organisation (CSIRO).

Australia

Banking | Open Data

Open Banking

• Account information
• Payment initiation (note: described within transactions, direct debits, and scheduled payments Get Transactions For Account – Consumer Data Standards)

Open Data

• Energy
• Telecommunication (Draft)

Current Accounts | Lending | Energy | Utilities | Savings

JSON | RESTful | YAML

Regulated

Mandated

Certificates | Registry | Directory | DCR

API Specifications | Operational Guidelines | Customer Experience Guidelines

Accounts | Direct Debits | Balances | Transactions | Parties or Contacts | Statements

Consumer Data Standards Australia Introduction

Consumer Data Standards Australia

The Australian Government launched the Consumer Data Right (CDR) on November 26th, 2017, following several years of development.

The concept of “data portability” had been explored in reports dating back to 2015. Draft legislation appeared in 2018, and the Treasury Laws Amendment (Consumer Data Right) Bill 2019 was enacted in August 2019.

CDR is designed to give consumers more access to, and control over their data, helping them better compare products and services and switch between providers more easily.

Security Profile

Partial certification process in place.

All entities must be accredited to receive data. The Data Availability and Transparency Bill establish two accreditation categories: Accredited User and Accredited Data Service Provider.

Data holders are required to submit biannual reports to both the Australian Competition and Consumer Commission (ACCC) and the Office of the Australian Information Commissioner (OAIC).

The Consumer Data Standards are tightly governed by the Australian Government, with all participating providers required to be accredited. The Treasurer appointed CSIRO (the Commonwealth Scientific and Industrial Research Organisation) as the Data Standards Body (DSB) to help deliver the Consumer Data Right.

Several government bodies contribute to building and overseeing the Open Data ecosystem. The ACCC (Australian Competition and Consumer Commission) serves as the lead regulator, working alongside the OAIC (Office of the Australian Information Commissioner), CSIRO and its subsidiary Data61—whose Consumer Data Standards team develops the technical standards for the CDR.

Other key organisations involved include APRA (Australian Prudential Regulation Authority), ASIC (Australian Securities & Investments Commission), the Australian Government Productivity Commission, and the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.

Consumer Data Right (CDR)