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Basiq and Ernst and Young have collaborated to write a comprehensive white paper looking at the future of write access in Australia. It compares and contrasts two implementations of ‘write access’ for payment initiation – one falling under the Consumer Data Right (CDR) and the other under the New Payments Platform (NPP’s) PayTo.
Basiq and Zeal Solutions have partnered to leverage comprehensive, accurate and up to date customer financial data to provide enriched credit assessment solutions that accelerate customer onboarding with real-time data and improve servicing and decisioning through transaction insights.
We’re excited to be welcoming LIZpay to our growing community of startups that have joined as part of Basiq Launchpad.
LIZpay has partnered with Basiq to accelerate digital onboarding and gain a better understanding of their customers’ finances
Third party payment initiation in Australia is expected to go-live in mid 2022 via the New Payments Platform (NPP’s) PayTo. PayTo is an incredibly exciting development and will revolutionise the way consumers both pay and manage their payments. The Consumer Data Right (CDR) is also looking at payment initiation under its next policy iteration of ‘Action Initiation’.
The Australian Government has just taken a big step forward in facilitating a more inclusive Open Banking ecosystem by formalising Version 3 of the CDR rules to include a ‘Sponsorship’ model. This is great news for us and our customers and we detail some key wins below.
When it comes to Open Banking, we often get asked about its rollout and when it will reach critical mass. In this blog post, we discuss how the CDR will evolve and the importance of being able to ‘dynamically switch’ between multiple data sources.
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