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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.
Just 0.3 Percent of Banking Customers Onboard with $1.5 Billion Consumer Data 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
Alfred Bui
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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.

Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].