{"id":12972,"date":"2019-06-12T08:49:15","date_gmt":"2019-06-12T08:49:15","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=12972"},"modified":"2019-06-12T08:49:15","modified_gmt":"2019-06-12T08:49:15","slug":"open-banking-to-begin-a-new-data-economy-in-australia-on-july-1","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/open-banking-to-begin-a-new-data-economy-in-australia-on-july-1\/","title":{"rendered":"Open banking to begin a new data economy in Australia on July 1"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Australian government has announced that it will begin phasing in recommendations from the <\/span><i><span style=\"font-weight: 400;\">Open Banking Review<\/span><\/i><span style=\"font-weight: 400;\"> beginning on July 1, 2019. Once fully-implemented, open banking will give Australian consumers more control over their information, leading to more choice and, ultimately, more confidence in the use and value of an important asset \u2013 their own data. The open banking concept will also extend to cover energy and telecommunication companies, with more sectors expected to eventually be included.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The decision to implement open banking is the culmination of a significant amount of work from banking, FinTech, consumer, regulatory and government communities. It will be important that the members of these communities (as well as others needing to participate in the new data economy) engage in ensuring that open banking and consumer data rights produce the customer choice, convenience and confidence they are designed to.<\/span><\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-12972 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Infographic: the top 10 trends in payments for 2018'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/infographic-the-top-10-trends-in-payments-for-2018\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/05\/Top-10-trends-in-payments-2018-1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9604\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9604'>\n\t\t\t\tInfographic: the top 10 trends in payments for 2018\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor (29th June \u2014 8th July)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-29th-june-8th-july\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/07\/307e88af-5cc9-03d1-8d4b-2bf8e8cdd0941-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16152\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16152'>\n\t\t\t\tBFC FinTech Monitor (29th June \u2014 8th July)\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='UK\u2019s Financial Conduct Authority calls for smarter regulatory reporting'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/uks-financial-conduct-authority-calls-for-smarter-regulatory-reporting\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/entrepreneurs-showing-startup-business-project_3446-697-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-9276\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/entrepreneurs-showing-startup-business-project_3446-697-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/entrepreneurs-showing-startup-business-project_3446-697-300x300.jpg 300w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/03\/entrepreneurs-showing-startup-business-project_3446-697.jpg 626w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-9276'>\n\t\t\t\tUK\u2019s Financial Conduct Authority calls for smarter regulatory reporting\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The Australian government has announced that it will begin phasing in recommendations from the Open Banking Review beginning on July 1, 2019. Once fully-implemented, open banking will give Australian consumers more control over their information, leading to more choice and, ultimately, more confidence in the use and value of an important asset \u2013 their own &hellip;<\/p>\n","protected":false},"author":5,"featured_media":13029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439,10],"tags":[77,287,75],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12972"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=12972"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12972\/revisions"}],"predecessor-version":[{"id":12973,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12972\/revisions\/12973"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/13029"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=12972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=12972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=12972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}