Two
fintech
industry
groups
are
calling
for
the
ACCC
to
intervene
in
an
imminent
systems
upgrade
at
ING
Bank.
FinTech
Australia
and
the
international
group
FDATA’s
local
chapter
alleged
in
a
joint
statement
that
a
planned
swap-out
of
ING
Bank’s
consumer
data
right
(CDR)
solution
could
place
it
in
breach
of
its
CDR
obligations.
Cutover
to
the
new
system
would
invalidate
potentially
thousands
of
customers’
existing
consents
to
share
data
with
fintechs,
and
foist
reintegration
costs
on
the
fintechs
receiving
data,
the
two
organisations
argued.
“Every
single
consent
that
is
currently
active
with
ING
will
need
to
be
redone,”
they
added.
The
joint
statement
also
alleged
that
not
all
accredited
data
providers
(ADRs)
under
the
CDR
scheme
had
been
notified
of
the
coming
change.
“This
exacerbates
the
issue
as
the
urgency
means
ADRs
have
to
coordinate
their
teams
to
update
their
platform
in
a
short
period
of
time,
and
wear
the
costs
and
the
reputational
damage,”
the
statement
said.
The
groups
argued
that
asking
customers
to
reauthorise
data
sharing
amounted
to
a
poor
user
experience,
and
could
damage
trust
in
the
CDR
“at
a
time
where
adoption
is
critical.”
The
groups
want
ING
Bank
to
maintain
backwards
compatibility
with
its
old
consent-collecting
platform,
so
that
consents
only
expire
under
the
conditions
they’re
meant
to,
such
as
with
time
or
the
action
of
the
consumer.
In
December,
the
ACCC
fined
ING
bank
for
breaches
of
CDR
rules,
relating
to
data
sharing
deadlines
in
2021
and
2022.
iTnews contacted
ING
Bank
for
comment.
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