back Back

Ozone API & ProductCloud enable open banking compliance for Australian firms

By Gloria Mathias

January 30, 2025

  • APAC Fintec
  • Australia news
  • Banking technology
Share

Ozone API, Banking Technology, Australia News, APAC Fintec, Open Banking Technology, Ozone API, a global open banking technology, has announced its partnership with ProductCloud, a platform that streamlines product information management.

The new partnership will help Australian companies comply with Consumer Data Rights legislation. It will provide a technology platform that removes complexity and enables them to rapidly deliver open APIs aligned with the latest version of the Australian Consumer Data Standard. 

This follows the Australian Government’s recent announcement of a series of changes to the Consumer Data Rights (CDR). This opt-in service empowers consumers to share their data securely, with complete control and transparency over who it’s shared with and why.

With non-bank lenders now needing to comply with these regulations, Ozone API and ProductCloud offer a unique combined proposition enabling relevant organisations to meet open banking regulations quickly and cost-effectively. Ozone API’s solution is already CDR-compliant.

With ProductCloud, Ozone API is working alongside a trusted partner who has a deep understanding of the open banking landscape in Australia. By sharing knowledge of their respective markets, both companies remain one step ahead of their competitors while providing customers with the best-in-class experience.

Huw Davies, Co-founder and CEO of Ozone API, said, “Our platform is already helping banks and financial institutions around the world to deliver standards compliant with open banking APIs, including in line with the CDR standard. We’re really excited to combine our global expertise in open finance with ProductCloud’s innovative product management platform. Together, our solutions remove the complexity of achieving and maintaining CDR compliance, allowing organisations to focus on their core business.”

Mark Evans, Co-founder and CEO of ProductCloud, said, “Since launching ProductCloud back when CDR kicked off, we have had our sights on being the go-to Product Information Management and CDR Compliance platform for Financial Institution Product Managers. Partnering with Ozone API is an exciting development because they have also been pioneers in open finance. Collaborating with our respective SaaS platforms and APIs will provide a unique offering for rapid and cost-effective open banking compliance.”

Previous Article

January 30, 2025

UK FinTech Moneyhub appoints Alastair McGill as CEO

Read More
Next Article

January 30, 2025

Fintech Galaxy gets Central Bank nod to test open banking in Jordan

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Hong Kong’s ZA Bank partners TransUnion to offer free credit alerts

Read More

Today

Perfios acquires fraud-detection platform Clari5

Read More

Today

India opens Aadhaar Authentication to private sector

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q4 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2024
Know More