Road Testing the New CDR Open Banking Standards
In this post, I am going to road test the the new Open Banking APIs that have been developed as part of the Australian Government’s introduction of the Consumer Data Right legislation. The big four banks – CommBank, ANZ, NAB, and Westpac have published the first two services ahead of the official phase 1 launch…
Faster Payments using Blockchain Technology
I had the opportunity to lead a Blockchain initiative a few years ago using the Ripple Consensus Ledger. That trial ran for about three months and involved sending money out of Australia into New Zealand and Fiji. That certainly showed us how fast this blockchain stuff could really be, but it also reminded us that…
What is more important. Payment Speed or Information?
Not all faster payments are fast. Sometimes payments can be quite slow. Sure the payment may get to the destination quickly, but it may lack the necessary information needed to do anything with it. For an individual receiving a payment, this is usually not a problem. You usually know what the payment is, even if…
Payments Before the New Payment Platform
The New Payment Platform officially went live in February 2018 with a quiet launch of the first service – BPAY’s OSKO credit transfer. 18 months later we now have over 60 banks and financial institutions in Australia active.* We are still getting used to being able to send Faster Payments in Australia. We are also…
