Finance Breaking news Australia's Police Bank turns to SISS Data Services for open banking last financial news
Breaking-Finance.Com - Member-owned financial institution, Police Bank, has selected SISS Data Services (SDS) as their partner to enable compliance with the first phase of Consumer Data Right (CDR).
Breaking-Finance.Com - SDS will help Police Bank participate in open banking by sharing information abouttheir products such as features, interest rates and fees to help consumers to makebetter-informed decisions about financial products and services.The subscription-based Open Banking Platform created by SDS enables banks tocomply quickly with CDR without compromising on security and without the time andexpense of building their own solution.“We’re thrilled that Police Bank has chosen our Open Banking Platform. With mostdeployments completed in under a day, this platform is a fast and efficient way toshare product reference data ahead of the October deadline”, said SDS ChiefExecutive Grant Augustin.“We understand the pressure banks are under now, and by drawing on over 10years of experience, we are able to offer a simple and secure solution to help banksefficiently move forward into open banking.
. SDShas a great track record of securely handling bank data, and this fully supportedplatform enables us to reduce the upfront and ongoing costs, while effectivelymeeting our CDR requirements.”“Open banking promises better outcomes for consumers through greater access todata,” said Grant Augustin. “It will also enable financial institutions to gain greater insights into the needs and wants of consumers. We are excited to leverage our considerable experience to be a key enabler of open banking in Australia.”
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