The ACCC has announced that it has amended the Consumer Data Right Rules to allow accredited firms to collect data on behalf of third party data recipients, with consumer consent.
These amended rules mean accredited businesses can now ask other accredited businesses to obtain consumer data on their behalf.
The updated rules mean that accredited businesses can use outsourced IT infrastructure and software of an accredited intermediary to connect to data holders’ APIs, rather than having to build their own.
The rules have been amended to allow for greater participation in the Consumer Data Right by fintech firms, ACCC Commissioner Sarah Court said.
"This is the first in a series of measures to reduce the time and cost to enter and operate in the Consumer Data Right ecosystem.
"The rule changes also make it easier for businesses who currently rely on outsourced services to join the Consumer Data Right and reflect our ongoing goal of facilitating a wide range of business arrangements within the Consumer Data Right.
"All businesses being accredited by the ACCC go through a rigorous process to ensure they meet appropriate security requirements.
"These amendments do not change those rigorous controls," Court added.
"We are pleased by the interest already shown from businesses who want to join the Consumer Data Right.
"We look forward to more and more businesses joining the Consumer Data Right ecosystem and delivering increased competition and innovation for consumers and the wider Australian economy," she said.
The amended rules come alongside the ACCC's announcement of a consultation on proposed new consumer data rules.
This includes proposals for new levels of accreditation and expanding the Consumer Data Right to business customers, alongside other measures.