Australia and New Zealand
Open Banking Ecosystem Map and Report
January 2025
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Australian Open Banking Ecosystem Map and Report
January 2025
If you want to understand who is participating in the Australian Open Banking Ecosystem and the latest trends, download the comprehensive ecosystem map and report.
Quick CDR Facts
at November 2024
?
190
Active Data Holders
Consumer Bank Account Coverage
Accredited Data Recipients & Other Access Models
Number of consumer consents since 1 July 2020
99.74%
96
— Katie Wilson, Head of Policy, FinTech Australia
“2024 was the year when CDR was re-energised by a critical government ‘reset’. The question now becomes: will a post-election government seize the opportunity that lies ahead in 2025 to further unlock the economic and social benefits of the CDR? There is so much the fintech industry is ready to do in open finance to help Australians - from further democratising financial advice to streamlining lending to automating investing - but this can only be made possible with regulatory change”
Data Recipients are growing
Data Recipients continue to grow but at a slower rate, with a 15.52% increase in the last six months (versus 25.3% and 48.42% in the previous two reports), largely driven by new CDR Representatives. In the same period, ADR growth rate has stabilised.
ADRs are using OSPs more
More than half of Accredited Data Recipients (70%) now use Outsourced Service Providers (OSPs), with a 100% increase over the last 15 months. This increase is in line with predictions in our last report and comes off the back of recent changes to allow Representatives to use OSPs.
Top 5 Use Cases
Out of 197 registered use cases for software products, lending, credit, and brokering stand out as the leading categories, representing 34 use cases. Furthermore, banks and other major financial institutions have contributed 16 additional use cases, showcasing their significant involvement in this domain.
— Brenton Charnley, Head of Open Banking Australasia, Mastercard
“2025 is set to be a crucial year for the Consumer Data Right, as further reforms kick-in and the transition away from screen scraping accelerates. It is exciting to see continued growth in the ecosystem, particularly in the areas identified by the government as the “high value” use cases of lending, PFM and small business accountancy. Getting the policy settings right to enable these use cases to flourish will give the ecosystem the momentum it needs to drive innovation and real outcomes for consumers.”
Time to rectify has improved
On average, it takes close to just over a month for Data Holders to rectify implementation gaps. This has improved from 119 days in December 2022.
Data Holders Closing Gaps
Data holder compliance continues to improve, with the implementation gap narrowing to just 25% of data holders. Notably, 98% of data holders are now active, marking a significant improvement from the 91% gap reported in December 2022.
Download the latest edition of the Australian Open Banking Report
If you want to understand what is happening in Open Banking in Australia, download the comprehensive ecosystem map and report.
In this 29-page report you’ll learn more about:
CDR participant insights
Data recipient use cases and industries
Data Holder compliance statistics
CDR industry statistics
Insight into new CDR Participants
3-page Ecosystem Map
No registration required.
Looking to get added to the Ecosystem Map?
Whilst we endeavour to collect information on all participants during our research, we might miss participants from time to time. If you would like to request an addition or amendment to the Australian Open Banking Ecosystem Map please fill out the form below.