Review into Open Banking in Australia - Final Report

This consultation process has now been completed. Submissions available
Consultation Type
Consultation Paper

Key Documents

Note: the 'Consumer Data Right – Fact Sheet' that was previously available on this page has now been superseded by the 'Consumer Data Right Booklet'.


On 20 July 2017, the Hon Scott Morrison MP commissioned the Open Banking Review, chaired by Mr Scott Farrell who was asked to recommend the most appropriate model for Open Banking in Australia.  By giving customers greater access to and control over their banking data, Open Banking has the potential to transform the way in which customers use and benefit from the banking system.


The final report makes 50 recommendations, on the regulatory framework, the type of banking data in scope, privacy and security safeguards for banking customers, the data transfer mechanism and implementation issues.

While the Review has consulted extensively in forming its recommendations, the Government is seeking any further detailed comments on the recommendations before making final decisions on implementation.  Submissions should be lodged with by 23 March 2018.

Open Banking is the first implementation of the Consumer Data Right

On 26 November 2017, the Hon Angus Taylor MP, the then Assistant Minister for Cities and Digital Transformation, announced the development of a national Consumer Data Right (CDR). The Treasurer will be leading the development of the CDR, with the design of the broader CDR informed by the recommendations of the Open Banking Review. The announcement formed part of the Government's response to the recommendations of the Productivity Commission's Inquiry into Data Availability and Use. The CDR will give customers the right to access their data in a machine-readable form.

The Government has decided that the CDR will be implemented economy-wide on a sector-by-sector basis, initially in the banking, energy, and telecommunications sectors.  Open Banking – the CDR for banking data – will be the first sector in which the right will be established.

The Treasurer therefore seeks views on the proposed regulatory framework contained in the Report, as a model for the broader CDR.


68 submissions were received for this consultation.

Acorns Grow - pdf 870.55 KB
AGL Energy - pdf 172.72 KB
American Express - pdf 203.87 KB
Amstelveen - pdf 202.36 KB
ANZ - pdf 342.57 KB
Australia Post - pdf 510.87 KB
Ben Koshy - docx 15.54 KB
Bradley Pragnell - docx 36.98 KB
Choice - pdf 67.98 KB
Clean Energy Council - pdf 631.88 KB
Common Ledger - pdf 119.41 KB
Commonwealth Bank - pdf 1.85 MB
Comms Alliance - pdf 89.3 KB
Data Action Pty Ltd - docx 124.13 KB
Data Republic - docx 543.98 KB
Equifax - pdf 1.63 MB
Experian Australia - pdf 1007.14 KB - docx 25.25 KB
Fintech Australia - pdf 569.23 KB
Illion - pdf 726.44 KB
Kemp and Vaile - docx 131.26 KB
Law Council Australia - pdf 145.18 KB
LIXI - docx 62.71 KB
Mastercard - pdf 949.14 KB
Moneytree - docx 45.8 KB
NAB - pdf 154.07 KB
Origin Energy - pdf 358.87 KB
Paypal - pdf 63.13 KB
Ping Identity - pdf 130.8 KB
Prospa - pdf 106.61 KB
S&C Electric Company - pdf 365.61 KB
SISS Data Services - pdf 36.6 KB
Standards Australia - pdf 77.26 KB
Telstra - pdf 328.51 KB
Versent - pdf 39.96 KB
Visa - pdf 677.7 KB
Westpac - pdf 414.45 KB
WSO2 - pdf 640.63 KB
Xinja - pdf 235.73 KB