CDR
RegulationsConsumer Data Right
Definition
The Consumer Data Right is Australia's economy-wide data portability framework. It started with Open Banking and is expanding to other sectors including energy and telecommunications. CDR gives consumers greater control over their data and enables data sharing with accredited recipients.
Related Terms
Frequently Asked Questions
What is Consumer Data Right?
The Consumer Data Right is Australia's economy-wide data portability framework. It started with Open Banking and is expanding to other sectors including energy and telecommunications. CDR gives consumers greater control over their data and enables data sharing with accredited recipients.
What does CDR stand for in Open Banking?
CDR stands for Consumer Data Right. It is a fundamental concept in Open Banking and PSD2 regulations. The Consumer Data Right is Australia's economy-wide data portability framework. It started with Open Banking and is expanding to other sectors including energy and telecommunications. CDR gives consumers greater control over their data and enables data sharing with accredited recipients.
How does CDR affect Open Banking?
Consumer Data Right is a regulatory framework that shapes how Open Banking operates. It establishes requirements for data sharing, security, and consumer protection that all participants in the ecosystem must follow.
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