Biza.io launches Australia’s first Consumer Data Right compliant Open Banking Sandbox

Biza.io launches Australia’s first Consumer Data Right compliant Open Banking Sandbox

FOR IMMEDIATE RELEASE

Sydney, New South Wales — 25 NOVEMBER 2019 — Biza.io, thought leaders in Australia’s Open Banking sector, today announced the Beta launch of DataRight.io Lab (https://dataright.io/lab), Australia’s first Consumer Data Right (CDR) Compliant Open Banking Testing Sandbox. 

The cloud-based solution, focused on three key themes of Discover, Build and Comply, allows for rapid deployment of many customised environments simulating the CDR, empowering organisations to begin testing their implementations specific to their required use cases.

Open Banking technologists can request to join the Beta program, enabling them to deploy new environments via the DataRight.io Lab, which supports the key components that application developers require to build value propositions based on the CDR Standards including:

  • Product Information API: Detailed Product Information for Banking Products.
  • Banking Information API: Endpoints containing Account Information, Balances and Detailed Transaction information
  • Customer & Consent API: Endpoints containing Customer Information and mandated Consent workflows.
  • InfoSec Profile: The security specification defined for the Consumer Data Right.

A number of additional tools are also included within the Lab including:

  • Endpoint Discovery and Product Browser: An integrated browser of available API endpoints coupled with a structured rendering engine for Product Information currently delivered by Holders.
  • Product Designer: A GUI based designer for Holders to graphically design their products in the CDR Standards format.
  • Compliance Reports: A continuous compliance monitoring capability to verify technical compliance to the underlying standards.

Stuart Low, Founder of Biza.io, said, “For the Australian Consumer Data Right to be a success, it is critical that technology professionals have access to flexible and feature rich tools that enable them to efficiently build solutions utilising the Consumer Data Standards, through this platform we look forward to continuing to contribute to Australia’s Open Data revolution.

To signup interested parties can access https://dataright.io/lab .

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About DataRight.io

DataRight.io is a news and resources website dedicated to the emerging Open Banking and Consumer Data Right ecosystem. Providing a regularly updated aggregation of related news, a growing online community and now DataRight Lab, DataRight.io’s objective is to raise awareness of, and educate on, the emerging Australian Consumer Data Right.

About Biza.io

Founded in 2017, Biza.io is a financial technology innovation company focused on the Australian open banking sector. The largest external contributor to the technical specification governing the Consumer Data Right, a member of the OpenID Foundation Financial-Grade API Working Group and a producer of industry leading software products and services, Biza.io enables financial institutions and startups alike to embrace Australia’s open data future. You can find out more about Biza.io by visiting https://biza.io/.

Related Links

https://dataright.io/lab

https://dataright.io/

https://biza.io/

https://biza.io/wp-content/uploads/2019/11/Biza_DataRight-Media-Release.pdf

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