CDR Compliance Solution© - Powered by Salt Edge

A SaaS solution for Data Holders covering ALL Australian CDR requirements

With the advent of Open Banking in Australia, or the Consumer Data Right (CDR) as it is better known, Fintech Solutions & Services (Global) Pty Ltd (FinSS Global) has partnered Salt Edge, an international leader in building Open Banking solutions, to help Data Holders and Reciprocal Data Holders in the Australasian market become regulatory compliant in the shortest time.

Understanding the incontestable importance of the Open Banking phenomenon in the region, Salt Edge has rolled out the payment-ready CDR Compliance Solution, offering a cost-effective and technically scalable approach to compliance.

CDR Compliance Solution©

The CDR full-stack toolkit is a fully functional, robust, “out of the box” solution to enable full CDR Data Holder compliance and empower consumers to share their transactional data with trusted Data Recipients for better financial outcomes.

The CDR Compliance Solution is a set of services, systems, APIs and necessary integrations designed to cover all CDR rules and standards, connections with Accredited Data Recipients (ADRs), Multi-factor Authentication (MFA), Consent Management and Dashboards to help a Data Holder, or its Core Banking Service Provider, monitor and stay in full control of the solution.

It is a Software-as-a-Service (SaaS) implementation, which means it is secure, cost-effective, reliable and requires minimal technical participation from the Data Holder.

The system maintenance, monitoring and updates are handled by Salt Edge and the model enables a Data Holder to modify its own Core Banking infrastructure without having to depend on the Salt Edge solution.

CDR Compliance Solution© Product Features

  • Provides Data Holders with the required set of CDR-compliant APIs (ie. Banking API, Registration API, Common API, InfoSec API, Admin API)

  • Ensures that APIs comply with Consumer Data Standards (CDS) around data sharing and consent management
  • Checks the validity of ADRs and associated Software Products, by polling the CDR Register APIs and caching participants data
  • Provides monitoring and reporting services, including ACCC regulatory reporting data
  • Provides an ADR Developer Portal with comprehensive documentation and a Sandbox environment that mimics the production API environment, assisting with onboarding for a seamless integration
  • To accelerate the implementation and testing phases, contains a complete set of API Documentation, Sample Connector SDKs and API Guidelines
  • Includes a Testing Environment, automated Test Suites and supports the Data Holder during the Conformance Test Suite (CTS) enrolment and acceptance process
  • Post-go-live support including regulatory, security, compliance updates and versioning of all the APIs

Designed and Architected

SaaS Hosted Model

  • Security and Access Management

  • Implementation and Testing facilities

  • Monitoring and Reporting

  • Connector API for Core banking integration

  • Consent Management APIs

  • Multi-factor Authentication

  • System Logging & Incident Management

  • Dashboard and Acivity Visualisation

  • Follow this link for more information on the CDR Compliance Solution©.

Like all software products, version upgrades or major new Product releases will be based on upgrade or new product fees

Reduce infrastructure, implementation and configuration time and cost

Includes maintenance and support for bug fixes, minor enhancements & CDR rule changes

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CDR Compliance Solution© for Data Holders and Reciprocal Data Holders

“A cost-effective, fully functional, robust, secure, off-the-shelf solution to enable full CDR Data Holder compliance in minimal time.”