back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Suncorp partners with Frollo for open banking APIs in Australia

By Edil Corneille

January 12, 2021

  • Australia
  • Suncorp
Share

Suncorp, Frollo, open banking, API, Australia, CDRAustralian FinTech Frollo announced that Suncorp Bank will utilise the Frollo PRD Portal to power their open banking product APIs and comply with data holder obligations under the Consumer Data Right (CDR).

In February 2020, the Australian Competition & Consumer Commission (ACCC) declared the Competition and Consumer (Consumer Data Right) Rules which provide legislative force to consumer data-sharing obligations in banking, to become mandatory from July 1, 2020.

Suncorp will take advantage of the ease of use, low cost and future proof solution the Frollo PRD Portal provides. They will get access to the real-time competitive product comparison tool, using all publicly available PRD APIs.

Suncorp joins a growing number of businesses using the Frollo Open Banking platform to comply, compete and innovate with Open Banking.

Getting ready for phase 2 CDR products

As the deadline for publishing Phase 1 product information APIs passed in October 2020, many banks are looking at their next milestone: Phase 2 product information in February 2021.

Frollo clients BNK, P&N Bank and CuSA have started publishing residential mortgage product information, including more complex multi-tiered LVR mortgage products.

Making open banking compliance easy

The Frollo PRD portal is said to offer an easy, future proof way to comply with product data obligations. The platform also includes a real-time competitive product analysis using PRD APIs.

Frollo is a purpose-driven tech organisation on a quest to help improve peoples lives through increased financial wellbeing. The company simplifies and automates the process of getting ahead with finances through the provision of actionable insights, gamification and being part of a community.

Previous Article

January 11, 2021

PayBito partners with USA-based organization to offer DeFi payment solutions

Read More
Next Article

January 12, 2021

Phoebus Software signs new contract with UK-based Pure Retirement

Read More










IBSi Daily News Analysis

September 26, 2022

Australia

How will corporate banking predictions affect technology buyers?

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

Wise Platform rolls out its new International Receive Service

Read More

Today

4 popular digital payment gateways in India

Read More

Today

Bharat Billpay and Federal Bank partner with LuLu Financial Group

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022