WeMoney is an accredited and active member of the Australian Consumer Data Right Scheme. This means you can access your data through a direct connection with your financial instituation.
The Consumer Data Right is an opt-in service, giving you the choice about whether to share your data, with full visibility of who it’s being shared with and the purpose for sharing it.
If you choose to use Consumer Data Right, your information is transferred using secure automated data technology. You’ll have more choice and control over how your data is shared, while getting a more accurate picture of your finances.
Open Banking is strictly regulated by the Australian Government. Your information is transferred using secure automated data technology.
Choose what data you share and for how long.
Since your data is shared directly, you’ll see more up-to-date transactions and balances.
Some financial institutions have an Open Banking connection, including most of the major banks and others, like Up Bank and ubank.