This week marks a further milestone for the Consumer Data Right, as Australia’s largest non-bank lenders begin sharing consumer data through the CDR.
This expansion will empower Australian consumers to share their data on their home, car or personal loans to better understand their costs and shop around for a better deal. Combined with banking data, which is already available through the CDR, consumers will be able to see a more complete picture of their finances.
The CDR provides consumers with the option to access and share their data securely, delivering better information, easier comparisons and streamlining paperwork when making decisions about large household costs.
Smaller lenders will commence consumer data sharing through the CDR in May 2027.
The expansion of the CDR to non-bank lending builds on the CDR’s existing footprint in the banking and energy sectors.
