SISS Data Services is excited to announce the launch of ‘CDR Ready’, a free, easy-to-use tool designed to empower Australians to harness the full potential of the Consumer Data Right (CDR). In just two minutes, users can verify their authority to access and share their bank accounts under the CDR framework and Open Banking.

Streamlining Access to CDR and Open Banking

“CDR Ready simplifies the process of checking account access, ensuring that consumers are prepared to engage with the CDR effectively,” said Grant Augustin, CEO and Founder of SISS Data Services. “We've successfully guided thousands of consumers in navigating the CDR landscape, revealing that many users—especially those with business or jointly-held accounts—often lack the necessary authorisations on file. With CDR Ready, users can swiftly confirm their authorisations before starting the CDR process, eliminating unexpected hurdles along the way. Plus, if updates are needed, we provide clear, easy steps to get everything in order.”

Despite its potential, the uptake of CDR and Open Banking in Australia has lagged behind expectations. However, consumers are becoming increasingly wary of data sharing methods, such as screen-scraping, which necessitate sharing sensitive bank passwords. This growing concern has fueled interest in the secure, government-backed CDR scheme which does not require password-sharing. “Our research indicates that Australians are no longer happy about relinquishing their bank passwords to third parties so they can share their data with services like accounting software,” Mr. Augustin continued. “The CDR offers a safe, reliable, and comprehensive alternative. It’s crucial for Australians to be CDR Ready to fully benefit from this new data-sharing revolution, and we are proud to provide this tool at no cost.”

Get CDR Ready Today

CDR Ready is now live and available for all Australians at www.cdrready.com. This tool empowers users to take control of their data with confidence and ease.