What is the status of Open Banking in Australia in 2026?

As of mid-2026, Open Banking (Consumer Data Right) has expanded beyond traditional banks to include large non-bank lenders and BNPL providers. The ecosystem is currently focused on the rollout of Action Initiation (Write Access) and Registry Stabilisation to ensure a fast, secure, and reliable data-sharing environment for all Australians.

How does the expansion to non-bank lenders benefit consumers?

The expansion to non-bank lenders and BNPL providers creates a 'level playing field' for security. It ensures that non-bank financial data meets the same high privacy and security standards as traditional banks, while allowing consumers to view their entire financial footprint in one place through their trusted bank app.

What is Action Initiation (Write Access)?

Action Initiation is the next generation of the Consumer Data Right. It allows customers to securely instruct their bank to perform actions on their behalf, such as making payments, switching accounts, or updating personal details across multiple services, all through a single accredited interface.

Is my data safe with Open Banking?

Yes. Open Banking is built on a foundation of strict, consent-based sharing. You decide exactly what data is shared and for how long. The ABA supports 'smart friction'—deliberate security checks for high-risk transactions—and technical initiatives like Registry Stabilisation to maintain the highest levels of system integrity.

Open Banking

Consumer Data Right & Open Banking

Australia’s banks are leading the transition to a secure, data-driven financial future. Through the Consumer Data Right (CDR), customers can securely share their information to unlock faster approvals, smarter insights, and greater financial control.

Information you can securely share

Identity Name & Contact Details

Accounts Balances & Product Types

Insights Rates, Fees & Features

Activity Transactions & Spending

How Open Banking empowers you today

Streamlined Applications

Tired of searching for old pay slips? Open Banking allows you to securely share your transaction history with your bank in seconds, leading to faster mortgage and personal loan approvals without the manual paperwork.

Bank-Grade Privacy

You are in the driver’s seat. Open Banking uses consent-based sharing, meaning you decide exactly what data is shared, who sees it, and for how long. You can revoke access at any time through your trusted bank app.

A 360° Financial View

By securely linking all your accounts—including energy today, with non-bank lenders progressively joining—your bank can provide smarter budgeting tools and insights, helping you manage your complete financial well-being in one place.

Open Banking in 2026

Leveling the Financial Landscape

As of July 13, 2026, the CDR has expanded to include large non-bank lenders and BNPL providers. This ‘level playing field’ means non-bank data must meet the same high security and privacy standards as banks, ensuring your financial information is protected no matter where it is held.

Comprehensive Financial Insights

Banks will soon be able to provide a more complete view of your finances by securely integrating your non-bank loan and BNPL data, as these providers progressively join the Consumer Data Right. This visibility will support more responsible lending decisions and allow your bank to offer tailored solutions based on your full financial picture.

Next-Gen Action Initiation

The industry is rolling out Action Initiation, moving beyond ‘read-only’ data sharing. This allows you to securely instruct your bank to automate complex tasks, like making payments or updating personal details across multiple services, all from a single trusted interface.

Find out more: Digital ID and the Digital Identity Framework

Find out more

Consumer Data Right (CDR)

Open Banking is the first sector of the Consumer Data Right (CDR).

The CDR is envisaged to become an economy-wide system which will enable the safe and secure transfer of consumer data. The Australian Competition and Consumer Commission (ACCC) is the lead regulator of the CDR.

The ACCC is working with the Office of the Australian Information Commissioner (OAIC) and the Data Standards Body (DSB) in its development and implementation.