On this page
- Overview of the Consumer Data Right system
- Who can use the system
The Consumer Data Right (CDR) gives consumers greater control over their own data, including the ability to securely share data with a trusted third party.
It will be introduced in the banking sector from July 2020 and will then roll out across other sectors of the economy, including energy and telecommunications.
The CDR aims to help you monitor your finances, utilities and other services, and compare and switch between different offerings more easily. The system also aims to encourage innovation and competition between service providers, helping you to access products and services that better suit your specific needs.
Under the CDR, you can direct your data to be shared via a secure online system with an accredited provider of your choice.
The ACCC is responsible for implementing the CDR system, accrediting providers (also referred to as an ‘accredited data recipient’) and enforcing the CDR Rules. Strong privacy protections are built into the system and will be enforced by the OAIC and the ACCC.
Only a business which has been accredited by the ACCC can provide services under in the CDR system. An accredited provider must comply with a set of privacy safeguards, rules and IT system requirements that ensure your privacy is protected and your data is transferred and managed securely.
Your data can only be shared within the CDR system with your consent and with a provider of your choice. You have control over what data is transferred, and what it can be used for. You can stop the collection of your data at any time and ask for it to be deleted if it is no longer needed.
The Consumer Data Right will be available to consumers who are 18 or older. Small, medium and large business customers can also use the CDR in relation to data that is covered by the CDR system.
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