The Customer and Product Data (Designations for Banking and Other Deposit Taking) Regulations designate the banking sector under the Customer and Product Data Act. The regulations enable and accelerate ‘open banking’, which is a system that enables banks’ customers to share their banking information with trusted third parties, such as fintechs. It also enables accredited persons to initiate payments on behalf of customers, if they have the customer’s authorisation.
ANZ, ASB, BNZ and Westpac are required to have open banking systems live from today.
The Government has established a Consumer Data Right through the Customer and Product Data Act 2025.
Taking part in the Consumer Data Right (CDR) means joining a trusted framework that empowers consumers and drives innovation. Learn more about the types of participants in the regime, what’s involved in becoming a participant, and the fees and levies that apply. Whether you’re a data holder or looking to become an accredited requestor, you’ll find the key information you need to get started.
Explore the benefits of the Consumer Data Right in New Zealand. Learn how the Consumer Data Right empowers consumers, drives competition and unlocks innovation across sectors.
The Register of Participants is the official list of companies included in the Consumer Data Right (CDR) framework, under the Customer and Product Data Act 2025. The Ministry of Business, Innovation and Employment (MBIE) manages and updates the register as the CDR Regulator.
The Government is exploring the potential to make regulations that designate the electricity sector under the Customer and Product Data Act, which will enable a consumer data right in the electricity sector.
A Consumer Data Right (CDR) is a legal framework that lets you access, share, and manage certain data, like transaction history, with trusted third parties through secure digital systems. The goal is to provide greater choice, convenience, and innovation.
The Government has introduced the Fast-track Approvals Amendment Bill to make it easier and faster for new supermarkets to be built.
We are working to ensure that the retail payment system operates in the interests of New Zealand consumers and businesses.
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