{"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='TBC bank \u2014 first one to use chatbot for communication with clients'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/tbc-bank-first-one-to-use-chatbot-for-communication-with-clients\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2017\/12\/TBC-660x330-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-7556\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-7556'>\n\t\t\t\tTBC bank \u2014 first one to use chatbot for communication with clients\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Video: cybersecurity and financial services'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-cybersecurity-and-financial-services\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/10\/Why-is-cyber-security-so-important-for-financial-services-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-11087\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11087'>\n\t\t\t\tVideo: cybersecurity and financial services\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Infographic: 10 FinTech trends to watch in 2019'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/infographic-10-fintech-trends-to-watch-in-2019\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/01\/Fintech_2-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-12032\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12032'>\n\t\t\t\tInfographic: 10 FinTech trends to watch in 2019\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],"class_list":["post-12972","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-australia","category-fintech","tag-customer-experience","tag-open-banking","tag-regulation","b_post_type-the-fintech-world"],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/12972","targetHints":{"allow":["GET"]}}],"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}]}}