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Australian Open Banking Review to consider digital identity issues - October 2017

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The Australian Open Banking Review commissioned by Treasury has been given broad terms of reference and has expressed an interest in the role of digital identity credentials in the implementation of open banking.

Galexia team members held a bilateral meeting with the head of the Review - Scott Farrell - and members of the Review Secretariat, to share insights into the implementation of open banking initiatives worldwide, and the overlaps between open banking and digital identity.

The Review’s mandate is to make recommendations to the Treasurer on:

  • the most appropriate model for Open Banking in Australia
  • a regulatory framework under which an Open Banking regime should operate, and
  • a roadmap and timetable for its implementation.

The terms of reference, issues paper and submissions are available at https://treasury.gov.au/review/review-into-open-banking-in-australia/