Australia

Yes, Australia has Open Banking through the Consumer Data Right (CDR) framework. Launched in July 2020, CDR requires all major banks to share customer data with accredited third parties upon customer consent. The ACCC (Australian Competition and Consumer Commission) regulates CDR, which is expanding beyond banking to energy and telecommunications.

The table above lists all banks and financial institutions in Australia tracked by Open Banking Tracker, along with their API availability, sandbox status, and compliance information. Banks with a "Developer Portal" link offer documented APIs for third-party integration.

The easiest way to connect to banks in Australia is through an API aggregator like Plaid, Tink, TrueLayer, or other providers that offer coverage in this market. These aggregators provide a single integration point to access multiple banks. Alternatively, you can integrate directly with individual bank APIs through their developer portals.

Australia operates under the Consumer Data Right (CDR) legislation, administered by the ACCC. Unlike PSD2, CDR is a cross-sector framework starting with banking. Data recipients must be accredited by the ACCC and comply with strict privacy and consent rules. The Office of the Australian Information Commissioner (OAIC) handles privacy aspects.

CDR (Consumer Data Right) is Australia's data portability framework, with Open Banking being its first sector. Launched in 2020, CDR gives Australians the right to securely share their banking data with accredited third parties. Unlike Europe's PSD2, CDR is designed to expand beyond banking into energy, telecommunications, and other sectors, creating an economy-wide data sharing ecosystem.

Open Banking is the first sector of Australia's Consumer Data Right (CDR). While often used interchangeably, CDR is the broader framework that will eventually cover multiple industries. Open Banking specifically refers to the banking sector implementation, which went live in July 2020. The Australian Competition and Consumer Commission (ACCC) is the lead regulator of CDR.

All major Australian banks support CDR Open Banking, including the 'Big Four': Commonwealth Bank, Westpac, ANZ, and NAB. Regional banks and credit unions are also progressively joining. As of 2024, over 100 data holders (banks) are live on CDR, and the ecosystem continues to expand with new accredited data recipients building consumer applications.

CDR and PSD2 share similar goals but differ in scope and approach. CDR is sector-agnostic and will expand to energy, telecom, and more—PSD2 is banking-only. CDR requires 'reciprocity' where data recipients may also need to share data—PSD2 doesn't. CDR uses a centralised accreditation model via ACCC, while PSD2 uses national regulators. CDR also has stricter consent and data minimisation requirements.

PayTo is Australia's account-to-account payment initiation service, launched in 2022. It allows businesses and apps to debit customer bank accounts directly with customer authorisation, bypassing card networks. PayTo supports recurring and one-off payments and integrates with the CDR ecosystem. It is the Australian equivalent of variable recurring payments (VRP) in the UK or SEPA instant payments with PIS in Europe.