Open banking in Australia has stalled. It’s been active for two years, and before that had a three year runway to get the ground rules sorted out, but the promised influx of third party players hasn’t yet happened. Some have even left. Furthermore, a series of data hacks this year across the Australian economy is making Aussies wary about who is doing what with their data.
We catch up with Brenton Charnley, former CEO of the Australia/New Zealand arm of UK open banking pioneer TrueLayer and get his thoughts on how things are working today, and cyber security expert Stephen Wilson to find out whether the regulations currently throttling open banking growth, might be its saviour in Australia.