Open Banking
What you need to know

The ACCC officially defines the various accreditation models as the following:

Sponsor / affiliate model – The sponsored level of accreditation is for persons with or who intend to have an arrangement with an unrestricted accredited person who is willing to act as their sponsor in the CDR regime.

Prinicipal / CDR representative – Persons who wish to use CDR data to provide goods or services to consumers, but who do not wish to participate in the CDR as an accredited person, may enter a CDR representative arrangement with a person accredited at the unrestricted level (the principal). For example, an accredited fintech could provide packaged CDR services that are designed to be sold by representatives on the condition that the CDR data will remain within the fintech’s CDR data environment. In this ‘agency-like’ relationship the principal will collect CDR data on behalf of the CDR representative. A CDR representative may only have one principal.

Insights – allows the disclosure of certain limited CDR data, known as ‘insights’, to any person (whether accredited or not) provided the disclosure is for one of the purposes specified in the CDR Rules.

Trusted Adviser – allows the disclosure of CDR data to approved professionals such as accountants, lawyers, financial advisers, financial counsellors and mortgage brokers.

CDR Insights – certain insights from the data will be made available to participants that are considered low risk. Participants can’t gain access by directly integrating with APIs.

Learn more about the CDR accreditation models here.