All That Glitters

Mr. Open Banking

The open banking community has long believed the path to open data starts with open banking. The general idea is that the common standards used to share banking data will inevitably expand in scope, leading to open data standards which will eventually cover all sectors of the economy. Australia, unique among open banking regions, has been on that road for several years now, although some now say their ambitious regulatory effort, the Consumer Data Right (CDR), has fallen short of its initial bold vision. In this episode, Eyal sits down with Jamie Leach, a self-proclaimed data champion, who recently joined Raidiam as their Open Data Strategist. She is also the regional director of FDATA Australasia, and the founder of Open Data Australia. Jamie and Eyal discuss the origins of open banking and the CDR in Australia, some of the significant challenges the effort now faces, and predictions for where it is headed in the future.

Specifically they discuss:

• The origins of Australia’s foray into open data
• What made CDR so ambitious and forward-thinking
• The challenges that have caused the CDR to stall
• How ConnectID offered a market-driven alternative
• Where Australian open banking is headed from here