Continuing on from the innovation happening overseas, Australia is improving its banking infrastructure...We're excited to be one of the first adopters of this technology in Australia which will give you complete control over how you share your data and what data specifically you share...

This technology is called Open Banking, also known as CDR (Consumer Data Rights).

💡Open Banking 

Open Banking is in the process of being adopted by banks throughout Australia and provides you with full visibility of your data, as well as who it’s being shared with and the purpose for sharing it. We are big fans of Open Banking here at Bamboo, so you'll hear us talk a lot about it over the next little while and will be adopting it as soon as it becomes available at your preferred bank.

✨ The Benefits 

Governance
Open Banking is strictly regulated by the Australian Government. Your information is transferred using secure automated data technology.

Control
Choose what data you share and for how long.

Speed
Since your data is shared directly, you’ll see more up-to-date transactions and balances.

🌱 Roll Out

Not only does this make your experience on Bamboo more seamless, but it also aligns with what Web 3 is all about. We're excited to be an early adopter and provide you with the opportunity to take control of your data.

Once it becomes available at your banking institution you will have to reconnect your bank with Bamboo and provide annual approval to continue utilising this incredible innovation.