The Consumer Data Right

  • The Consumer Data Right allows consumers to safely share the data that businesses hold about them.
  • It can help consumers to compare products and services to find offers that best match their needs.
  • Banking data is already available for consumers to share, energy data will come soon, with other sectors to follow.
  • Giving consumers the power to share their data also encourages innovation in new products and services.

What the ACCC does

  • We deliver the enabling technology solutions and a range of free software tools used by industry providers.
  • We accredit the Consumer Data Right data recipients.
  • We support data holders and accredited data recipients with testing and on-boarding to start sharing data.
  • We provide guidance to participants on the Consumer Data Right rules and standards.
  • We help monitor compliance with and enforce the Consumer Data Right legislation, rules and standards. We jointly regulate the Consumer Data Right, together with the Office of the Australian Information Commissioner.

What the ACCC can't do

  • We don’t see, store, or share the consumer data that is covered by the Consumer Data Right.
  • We don’t give guidance to consumers about the the Consumer Data Right. This is the responsibility of Treasury, which responds to queries through the Consumer Data Right website.

About the Consumer Data Right

The Consumer Data Right is a world leading data sharing and portability initiative.

Data sharing can be used for different purposes, including to:

  • help with budgeting
  • support loan applications
  • use a consumer’s actual energy consumption to compare products and find the best-matched product for them.

Every time a consumer purchases or uses a product or service, valuable data is generated about them.

In the past, this data was exclusively held by the product or service provider. With the introduction of the Consumer Data Right, consumers can choose whether to share their data, who they want to share it with, and for how long.

The Consumer Data Right also requires businesses to share data about the products and services they offer in a standardised way. This makes it easier to compare offers.

The Consumer Data Right:

  • allows consumers to safely share the data that businesses hold about them
  • helps consumers compare between products and services to find offers that best match their needs
  • encourages competition between providers, leading to more innovative products and services.

How the Consumer Data Right works in practice

The Australian Government specifies the types of businesses that must share data if requested by a consumer. In the Consumer Data Right, these businesses are known as ‘designated data holders’.

With a consumer’s consent, designated data holders can transfer data to other businesses that have been through a rigorous ACCC accreditation process, known as ‘accredited data recipients’, or to their authorised representatives.

The ACCC operates the software that ensures that data is transferred only between designated data holders and accredited data recipients or their authorised representative.

There are Consumer Data Right rules, standards and privacy safeguards to make it safe and secure for consumers. The ACCC and the Office of the Australian Information Commissioner (OAIC) are responsible for ensuring compliance and enforcement.

Example of a consumer sharing data using the Consumer Data Right

A consumer is interested in using a budgeting app.

They decide to check the list of current providers in the Consumer Data Right to see if the budgeting app provider is:

  • an accredited data recipient, or
  • an authorised representative of an accredited data recipient.

The consumer confirms that the provider is an accredited data recipient.

In the budgeting app, the consumer sees they have the option to provide their consent for the app provider to receive their bank account data under the Consumer Data Right. They give their permission.

The bank verifies the consumer’s identity by sending a one-time password to the consumer and asking the consumer to confirm which data they would like to share with the budgeting app.

After the consumer confirms, the selected data is shared with the budgeting app using secure automated technology.

Rollout of the Consumer Data Right

The Consumer Data Right is intended to be economy wide.

Live sharing of consumer data began with the banking sector on 1 July 2020. All Australian banks are required to participate in the Consumer Data Right. Implementation in the banking sector is now largely complete.

The Consumer Data Right is being rolled out to the energy sector with the telecommunications sector to follow.

See the current timetable for the Consumer Data Right rollout.

The legal basis of our functions

Part IVD of the Competition and Consumer Act 2010:

  • establishes the Consumer Data Right
  • provides the ACCC with its functions and powers for the Consumer Data Right.

The ACCC also has powers and functions under the Consumer Data Right rules which detail how the Consumer Data Right works and is implemented.

Responsibilities for Consumer Data Right

The Consumer Data Right is a joint effort involving Treasury and several Australian Government agencies, including the ACCC.

Treasury

Treasury is the policy agency for the Consumer Data Right and is accountable for the program.

Treasury responsibilities include the development of rules, advice to government on which sectors to apply the Consumer Data Right to in the future, and public communication and promotion of the Consumer Data Right.

ACCC

The ACCC delivers the enabling technology solutions. These include the register and accreditation application platform, a conformance test suite, and a range of free software tools for providers.

We accredit the Consumer Data Right data recipients. We support data holders and accredited data recipients with testing and on-boarding to start sharing data.

We provide guidance and monitor compliance with the Consumer Data Right legislation, rules and standards, and carry out strategic enforcement action.

Office of the Australian Information Commissioner

The Office of the Australian Information Commissioner (OAIC) enforces the privacy safeguards and the Consumer Data Right privacy rules.

The OAIC also investigates individual consumer and small business complaints about the handling of Consumer Data Right data by Consumer Data Right participants. Where appropriate, the OAIC refers complaints to external dispute resolution bodies or the ACCC.

Data Standards Body

The Data Standards Body within Treasury creates the technical and consumer experience standards for how data is shared under the Consumer Data Right.

See the current version of the Consumer data standards.

Learn more about the Consumer Data Right

Visit the Consumer Data Right website for more information.

Sign up to the Consumer Data Right newsletter to receive updates on the Consumer Data Right’s work and progress.

Refer to the information map if you have a question about the Consumer Data Right.

See also

For industry providers (data holders and data recipients):