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ConsumerDataStandardsAustralia / standards-maintenance

This repository houses the interactions, consultations and work management to support the maintenance of baselined components of the Consumer Data Right API Standards and Information Security profile.
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ACCC Conformance Testing - Single industry solution for the CTS! #383

Closed CDR-API-Stream closed 3 months ago

CDR-API-Stream commented 3 years ago

This feedback and commentary was raised on the Standards Repository by @AMBL-CDR under https://github.com/ConsumerDataStandardsAustralia/standards/issues/184 and we have moved it here for transparency:

We are aware there is no direct mechanism for this feedback to be added.

Dear ACCC and CDR,

As discussed at the Treasury Meeting today (18/5/2021) I feel there is growing industry momentum to have a common Conformance Test Suite (CTS) for smaller ADIs.

As such, please consider a single test / approval process for CTS for mutual ADI’s who would use a common banking system, and of course a common version.

Having a single sign-off/ approval mechanism and process for CTS will save time for ADIs, and it will also save us enormous costs.

Cost is a major factor for smaller ADIs given all the other compliance items (as mentioned by Luke Lawler – COBA) that are in progress.

If this service is to provide banking competition, the regulators and respective authorities need to be aware that added costs may in fact force further small bank mergers, which ultimately lessens competition.

Sincerely Mal Webster For Australian Mutual Bank

CDR-API-Stream commented 4 months ago

If participants would like to provide feedback on the CTS process please contact the ACCC at ACCC-CDR@accc.gov.au.

If there are no further comments on this issue it will be closed on 28 June 2024.