TrueLayer launches its open banking platform in Australia

Following the successful foundation of TrueLayer in Australia, the firm will launch and increase its growth

TrueLayer

TrueLayer launches its open banking platform in Australia. Source: pexels.com

According to the blog post, TrueLayer has announced the launch of its open banking platform in Australia.

The use of TrueLayer in Australia comes as the Australian Commission and Consumer Data approves the firm as a free Accredited Data Recipient. This is based on the Consumer Data Right (CDR). The companies’ subsidiary will also be considered an Amplus Global Pty Ltd’s Corporate Authorised Representative. Amplus is an Australian Financial Services Licence holder.

The open banking platform provided by the company uses market-leading and proven data & payment APIs that process over half of the banking data in Spain, the UK, and Ireland.

The open banking platform aims to take advantage of the CDR core functionality to power emerging & mainstream use. This will also support non-financial and financial companies to provide the best financial experiences across lending, wealth management, digital banking and personal finance management apps.

Brenton Charnley, who joined the company in October 2020 is now the CEO in New Zealand and Australia. The two locations are a focus for the company’s global expansion.

From 1 October, TrueLayer will also be an AFSL Corporate Authorised Representative of Amplus Global, which allows the company to provide open banking payments in Australia.

We’ve reported that Cardano and Chainlink announced strategic collaboration.

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