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Changes will simplify Australia's data-portability regime, minister says

( November 12, 2024, 01:21 GMT | Official Statement) -- MLex Summary: Changes to Australia’s data-portability mechanism are designed to simplify the process and allow consent to be bundled, in a move that the government says will “improve the consumer experience and increase update” of the ailing regime. In a statement, Australian Financial Services Minister Stephen Jones said the changes to the Consumer Data Right would also remove barriers for banks by simplifying requirements that apply when an accredited bank seeks data from a consumer — a change that addresses the “complex and confusing” mechanism that has been in place until now.The full statement from Financial Services Minister Stephen Jones follows: ...

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