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The Commerce Commission has published its final report following a 14-month market study that identified a “two-tier oligopoly”.
Trustly’s chief revenue officer said it aims “to enhance the payment experience for both customers and vendors”.
A survey by Moneyhub found half of consumers are seeking a better range of products and services from their financial services providers.
Inspire Federal Credit Union has been named as the first client of the new tool.
D•One director Tim Kelleway said Open Banking helps assess borrower risk “more fairly”.
The Payment Systems Regulator sought views on key areas such as a multilateral agreement, mandated participation and pricing.
Salt Edge is event partner of the Open Finance Show, co-located with Open Banking Expo UK and Europe on 15-16 October.
Ecospend became the first provider globally to support with the implementation of Open Banking payments in a government department when it won a contract with HMRC in 2021.
The bank follows hot on the heels of Nationwide and Lloyds Banking Group, respectively.
Australians lost more than $2.7 billion to financial scams in 2023.
