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New Zealand embraces open banking in expansion of data rights framework

New Zealand government building
Photo: Getty Images

Martin Cloake

<1 min read
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Commerce and Consumer Affairs minister David Clark says move will promote competition.

The New Zealand government will make banking the first sector it applies its consumer data right (CDR) framework to, paving the way for open banking.

“Open banking ensures banks must share customer information if they request it, making it easier for New Zealanders to compare mortgage rates, apply for loans

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