The Australian Government deadline for open banking is 1 July and it is closely tied to the new Consumer Data Right. Last month, the Australian Competition and Consumer Commission released draft rules for the CDR and invited consumers, businesses and community organisations to send in their feedback by 10 May so that the rules could take effect from 1 July.
The ACCC said at the time that the CDR would commence in the banking sector and make it possible for consumers to gain access to their banking data and have it sent to providers with whom they preferred to deal.
Unisys said in a statement that the new version of Elevate offered the following enhancements:
API integration: The new version of Elevate has an API portal to facilitate integration of third-party data and services into a bank’s platform with no disruption.
Security across multiple touchpoints: Elevate is secured by Unisys Stealth proprietary security software, which claims to be the only product able to quickly isolate devices or users as soon as a compromise is noticed.
“What makes this new version of Elevate truly unique is that it takes the new transaction channels made available by open banking and allows banks to seamlessly integrate them into their offerings,” said Maria Allen, vice-president and global head of Financial Services at Unisys.
“Not only does this enable a truly omnichannel experience where the customer can securely complete a transaction from any location and from any device, but it establishes the bank as an integral part of the customers’ life – a ‘one-stop-shop’ where they can get personalised products and services they want, when they want them.”