The Consumer Data Right (CDR) is a data portability reform that will be rolled out economy‑wide, sector-by-sector, starting with banking. The objective of the CDR is to provide consumers with the ability to efficiently and conveniently access their personal data held by businesses (data holders), and to authorise the secure sharing of that data to trusted and accredited third parties (accredited data recipients). The CDR also requires businesses to provide public access to information on specified products that they offer.
The CDR will give consumers more control over their data. Consumer consent and strong privacy protections will be central to the CDR regime. Allowing consumers to share their data with service providers of their choice will lead to increased competition and will drive innovation across the Australian economy.