Consumer Data Right policy design

The Act establishes a framework for data portability which, when applied to specific sectors through regulations, allows customers in that sector to digitally share specific types of data (such as transaction history) and initiate specific actions (such as payments) with accredited data requestors, such as websites and mobile apps.

Once a sector is designated, organisations in that sector that hold designated data are required to provide that data in a standardised, machine-readable format to accredited data requestors, if the customer has provided specific authorisation. Data must be requested and transferred in accordance with data standards that ensure transfers are secure, and are only made to customers and accredited data requestors. Regulations to designate the banking sector under the Act, enabling ‘open banking’, came into force on 1 December 2025. The Government is also exploring designating the electricity sector to enable ‘open electricity.’