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Fintech iSignthis becomes first Australian company to be denied open-banking accreditation

( December 15, 2022, 00:51 GMT | Official Statement) -- MLex Summary: Controversial fintech business iSignthis Australia has become the first company to be denied accreditation under the country’s data-portability initiative, the Consumer Data Right. In a statement today, the Australian Competition & Consumer Commission said that it had rejected iSignthis’ application because it wasn’t satisfied that the company was a “fit and proper” entity to be accredited under the CDR. “The ACCC was not satisfied … that iSignthis had demonstrated it would be able to comply with the information security requirements," ACCC Commissioner Peter Crone said. The publicly listed e-payments company has recently attracted media attention over the standards of it audits, undertaken by a local accounting firm. The full statement from the Australian Competition & Consumer Commission follows: ...

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