DSB Item - Non-Bank Lending Standards

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Problem Statement

Technical and CX standards were made into candidate NBL standards in late 2023.

The candidate standards will be reviewed further following the making of any relevant NBL rules, after which the Chair will consider making them into binding standards for the NBL sector.

DSB Contacts: Nils, Holly, Bikram

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Treasury material for reference -

• Consumer Data Right - Strategic Assessment Outcomes (24 January 2022)
• Consumer Data Right Sectoral Assessment for Non-Bank Lending – Open Finance (15 March 2022)
• Consumer Data Right – Sectoral Assessment for Non-Bank Lending – Final Report (19 August 2022)
• Consumer Data Right – Non-Bank Lending draft designation instrument (19 August 2022)
• Consumer Data Right – Open Banking sectoral assessment and draft designation instrument – minor and technical amendment (19 August 2022)
• Consumer Data Right (Non-Bank Lenders) Designation 2022 (21 November 2022)
• Consumer Data Right rules and data standards design paper for non-bank lending sector (5 December 2022)

OAIC material for reference -

• Report on the draft Consumer Data Right (Non Bank Lenders) Designation 2022 (10 September 2022)

DSB material for reference -

• Design Paper: Consumer Data Right Rules and Standards for the Non-Bank Lending Sector (11 November 2022)

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Noting Paper 292 - Approach to developing Data Standards for the Non-Bank Lending Sector has been published.

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The next stage for Non-Bank Lending Standards will be a series of Decision Proposals covering Draft Standards.

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The following papers have been posted -

• Decision Proposal 316 - Non-Bank Lending sector alignment
• Decision Proposal 320 - CX Standards | Non-Bank Lending

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Exposure draft rules to expand the CDR to the non‑bank lenders sector have been published -

• Consumer Data Right rules – expansion to the non-bank lending sector

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The following paper has been published to consider the introduction of Buy Now, Pay Later products to the Banking and Non-Bank Lenders sector -

• #317 - Decision Proposal 317 - ‘Buy Now, Pay Later’ Product and Account Detail

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Resources that may be valuable for participants in the Non-Bank Lending sector -

• CDR information map
• White label products
• Compliance guide for data holders - banking sector

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Decision Proposal 318 has been published to support a holistic consultation on the Non-Bank Lending Draft Standards, including Consumer Experience Data Language and Technical Standards.

The proposal is attached to the following comment: ConsumerDataStandardsAustralia/standards#318 (comment)

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Non-Bank Lending Standards were made as Candidate Standards in Standards version 1.29.0.

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Consultation is now open for Consumer Data Right Rules – non-bank lending and banking data scope.