Around the world, consumers are winning the fight for the right to their data.
According to the World Economic Forum, user-centric, interoperable digital identities and trustworthy data sharing can enhance social and economic wellbeing. As Australia begins its Consumer Data Right journey, institutions and consumers alike can look forward to collaborating on exciting financial services product and service adventures.
This online course reveals what’s happening, who CDR immediately affects and when, and what opportunities and requirements CDR implementation presents for financial services institutions, ancillary service providers, and the Australian community at large.
- Define what a Consumer Data Right is
- Discuss the global context and related issues that apply to Australia’s CDR implementation
- Outline the domestic factors and government and industry initiatives that prompted Australia’s progress towards CDR development
- Evaluate the opportunities and vulnerabilities that CDR implementation presents for financial institutions and consumers
- Describe the regulatory framework via which the CDR will be implemented for Open Banking, including the primary regulators and key stakeholders in financial services organisations.
A new era in data accessibility has begun, triggered by the passing of the Consumer Data Right (CDR) Bill on 1 August this year. But what sparked the development of the CDR and how is the banking sector expected to manage this new commodity?
Looking for a RG146 CPD solution? This course also forms part of our complete online CPD solution, , which enables financial participants and organisations to meet ASICs RG 146 ongoing training requirements.