Wych

The evolution from #OpenBanking to #OpenFinance is more than just a trend—it's a revolution. Discover how this shift is opening up unprecedented opportunities across the financial landscape and what it means for businesses and consumers alike. 🚀https://wix.to/30hH1cU #FinancialInnovation #Fintech #DataSharing #FutureOfFinance

Access CDR by Wych is at the forefront of revolutionising the way businesses access and utilise Consumer Data Right (CDR) data. Our Business Consumer Disclosure Consent (BCDC) solution is designed to provide businesses with a streamlined, secure, and comprehensive way to leverage their financial and operational data across various service providers. https://wix.to/eApCRn2 #bcdc #cdr #openbanking #opendata

At Wych, we're activated by the developments happening in the NZ payments and open banking landscape, paving the way for a future of innovation. Here's a quick overview of the latest initiatives: 🔍 Open Banking in NZ: The Commerce Commission has authorised Payments NZ to refine the open banking partnering framework, making it easier for third parties to collaborate with API providers. This step is crucial in accelerating the adoption of open banking across the country. Additionally, the Commission’s final report on the personal banking sector highlights open banking as a game-changer for innovation, competition, and consumer choice. https://lnkd.in/gQYdV7v8 💡 Consumer Data Right: The Customer and Product Data Bill, which passed its first reading, is now under public consultation. This legislation will transition NZ from an industry-led open banking model to a regulated open data economy, with banking and energy as the initial sectors. Public feedback is open until September 5th, 2024. https://lnkd.in/gjd44hb8 💳 Digital Identity and Payments: The Digital Identity Services Trust Act has been enacted, with the Trust Framework Authority established to guide the accreditation process for digital identity providers. Payments NZ is advancing the business case for real-time payments in NZ, offering greater functionality, enhanced fraud protection, and richer data. https://lnkd.in/gcaXH4Xn 🌐 Cross-Tasman Innovations: Across the Tasman, Australia is also making significant strides. At CEDA - Committee for Economic Development of Australia, announced its move forward with action initiation, a critical step that could set the stage for greater consumer control over data and drive economic growth. https://lnkd.in/g_YVvnue These milestones are not just technical achievements; they are laying the foundation for a future where trust, security, and innovation drive the digital economy in New Zealand, Australia and beyond. At Wych, we're thrilled to be part of this journey and look forward to continuing to contribute to this evolving landscape. Dermot Butterfield Greg Oris Vanessa Ronan-Pearce 🎶Mark Pinder Anna Fitzgerald Mike Page Simone Jemmett Lisa Ibarra Matthew Bell Phil Cass Jamie K Leach (MAppFin - GAICD) Ben Ford Rehan Mark D'Almeida Steve Wiggins Jane-Renee Retimana Colin W. James Little Stephen Jones Andrew Bayly Nicola Willis MP Ruth Hatherley Dan Jovevski Tim Poskitt Brenton Charnley Hannah Glass #openbanking #openfinance #opendata

https://wix.to/YYcX0Lh CDR compliance is crucial for banking success. Don't let unexpected outages or data errors catch you off guard. Discover how proactive monitoring can safeguard your financial systems. #ConsumerDataRight #CDR #CDRCompliance #Banking #DataSecurity #ProactiveMonitoring

Discover the debate surrounding the Australian Consumer Data Right (CDR) as banks express concerns over high costs while fintech companies and consumers see potential benefits. Explore the challenges and solutions for cost-effective data management and the future of open banking in Australia. https://wix.to/2RXmXiX #cdr #openbanking #australia #banking

The lawsuit against IAG, whether accurate or not, serves as a cautionary tale about the perceived misuse of customer data and loyalty. To build a more transparent, ethical, and customer-friendly insurance industry, embracing open data protocols and predictive analytics is essential. By leveraging open data and ensuring the ethical use of predictive models, insurers can restore trust and offer genuine value to their customers. https://wix.to/IoFJoI8 #opendata #openinsurance #cdr

A little something to keep the grey matter ticking over the weekend. What are your thoughts on Action Initiation? #cdr #openbanking #fintechau #fintechnz #fintech

We’re so thrilled with our recent WIN we want to share the love. The next 5 businesses coming onto our platform will receive 20% off their first 3 months of our Data Recipient or Data Holder solutions. Get in fast! https://lnkd.in/gqCFpR4v #cdr #openbanking #fintech #fintechaustralia #agtt