What is Open Banking?

Open Banking, part of the Consumer Data Right, gives customers greater control over their banking data and how it is used. It allows you to share your financial information (such as your transaction history and account balances) with accredited third parties (such as other banks or financial institutions) and is designed to make it easier to aggregate your financial information across multiple financial institutions for budgeting, to apply for banking products or to switch accounts.

Our Consumer Data Right policy

Our Consumer Data Right policy describes how we manage data under the Consumer Data Right.

Download our Consumer Data Right policy

For further information on the Consumer Data Standards, please refer to the Consumer Data Standards website and the ACCC Consumer Data Rights webpage.

How do I access and share my data?

You can request access to your CDR Data at any time.  You can request access to your CDR Data directly, or you can authorise an accredited party to do so on your behalf.

To initiate data sharing you will need to consent to the process starting with an Accredited Data Recipient such as another bank, financial institution, website or App.

Through their data sharing portal, you will be connected to our Qudos Bank portal to provide consent.

We will authenticate you and prompt you to authorise Qudos Bank to share your data. You cannot initiate the sharing of your Qudos Bank data from us without first providing consent to the Accredited Data Recipient.

*Please note: Qudos Bank is not currently enabled to share joint account data at this time. This option will be available in a future phase of our Open Banking program.

Accredited Data Recipients

Organisations must adhere to high security standards to collect and use your Qudos Bank data and only those accredited by the ACCC can participate in Open Banking.

 View a list of accredited recipients - https://www.cdr.gov.au/find-a-provider

What Qudos Bank data can I share?

You can share your customer data, account data, and transaction data held by Qudos Bank.

The following accounts are available for sharing data:

  • Transaction Accounts
  • Savings Accounts
  • Term Deposits
  • Credit Cards

We’ll be making more consumer data available in the future. 

Disclosing Your Data

We will only disclose CDR Data to an accredited party if you have authorised us to do so.

We will only disclose CDR Data as required under the CDR regime or to otherwise comply with the law.  We will not accept any requests for disclosure of voluntary data.

Is open banking secure?

Yes, there are strict rules and security protocols in place to protect your information.

Strict accreditation criteria

To request access to your data through open banking, third parties must be accredited by the Australian Competition and Consumer Commission (ACCC). They have set strict accreditation criteria, as well as privacy and information security standards.

One-time password verification

If you consent to share your banking data with an accredited data recipient, a one-time password will be sent to you via email to your registered email address to help identify you.

Secure transmission

Once your details have been authenticated, your data will be transmitted to the third party through a secure connection. This connection is governed by strict terms and conditions defined by the ACCC on how your data must be secured.


 

FAQs

Open Banking requires you to sign in using your Online Banking credentials to authorise any sharing of information. If you decide to stop sharing your data, the accredited data recipient will give you the option to delete your data from their records. If you don’t choose to have it deleted, or in cases where it can’t be deleted, the accredited data recipient will delete any identifiable data.

Additionally, you can also stop a data sharing arrangement via Online Banking.

  1. Navigate to Services
  2. Select Sharing
  3. Select an outbound data sharing arrangement
  4. Click on Stop Sharing

This way we will send a request to the Accredited Data Recipient to delete or de-identify the data.

Giving your Qudos Bank Online Banking password to a third-party breaches our Online Banking terms and conditions.
There are different types of data sharing environments; screen scraping technology (using your Qudos Bank customer number and banking password) versus data sharing in the open banking environment.
When you use open banking, you won't be asked for your banking password; a one-time password will be sent to your email instead.
The open banking environment is a safe and secure way to share your information, and doing it this way doesn't breach our Online Banking terms and conditions. 
Under the Consumer Data Right legislation, we will not charge you to share your data with an accredited data recipient.
We won’t charge an accredited data recipient to access your data either.
Data sharing is only possible with Accredited Data Recipients. View the list of Accredited Data Recipients

Qudos Bank is not currently enabled to share joint account data at this time. This option will be available in a future phase of our Open Banking program.

Need assistance?

Please send us a secure email within Online Banking or call our team on 1300 747 747.

Open Banking Product APIs

The Qudos Bank Open Banking Product APIs enable third parties to access information about the products that we currently offer.  Our Product APIs have been developed in accordance with the Consumer Data Standards and includes the following products:

  • Transaction Accounts
  • Savings Accounts
  • Term Deposits
  • Credit Cards
  • Home Loans
  • Personal Loans

For further information on the Consumer Data Standards, please refer to the Consumer Data Standards website and the ACCC Consumer Data Rights webpage.

How do our Product APIs work?

Our Product APIs have been developed in accordance with the Consumer Data Standards.

  • The request must be a HTTP Get request to the relevant product API endpoint. At a minimum, the mandatory parameters defined in the specifications must be included. URLs and links to specifications are given under each API section below
  • These are public APIs and do not require authentication
  • The response will be in the format defined by the Consumer Data Standards

View our Product APIs

Obtain a list of the Qudos Bank products that are currently on offer in the market.

  • API URL: https://public.cdr-api.qudosbank.com.au/cds-au/v1/banking/products 

To learn more about the API Specifications for Open Banking Product APIs, go to the Consumer Data Standards Australia website.

View our Product Details API

Obtain detailed information on a specific Qudos Bank product offered in the market.

  • API URL: https://public.cdr-api.qudosbank.com.au/cds-au/v1/banking/products/{productId}

Learn more about the API Specifications for our Product Details API at the Consumer Data Standards Australia website.

If you are experiencing any technical issues with the APIs, please email openbanking@qudosbank.com.au with the details

Can't find what you're looking for?

 

Contact us to speak with a Customer Service Specialist.

Customer-First Banking

Customer Feedback