Just 0.3 Percent of Banking Customers Onboard with $1.5 Billion Consumer Data Scheme

The banks are concerned about the return on investment for the scheme.

A man walks past a branch of the National Australia Bank (NAB) in Melbourne, Australia, on May 6, 2021. William West/AFP via Getty Images

Australian commercial banks are concerned about the low uptake of the Consumer Data Right (CDR) scheme despite outlaying $1.5 billion.

The Australian Banking Association (ABA) has released the findings of a review of the CRD regime following its introduction in 2020.