Business View Oceania | September 2020

9 BUSINESS VIEW OCEANIA SEPTEMBER 2020 Company Delivers The First Sandbox Aligned to the CDR 1.4 Specification M ELBOURNE, Australia – the Intelligent Identity solution for the enterprise, today announced an industry-leading update to its Australian Consumer Data Right (CDR) sandbox environment enabling banks and fintech companies to further accelerate their CDR compliance efforts. Under CDR rules, financial institutions must provide customers with greater access and control of their data. The aim is to make it easier for consumers to switch between products and services, and to encourage more innovation and competition amongst service providers. PING IDENTITY RELEASES UPDATED CONSUMER DATA RIGHT SANDBOX FOR FAST-TRACKING OPEN BANKING ADOPTION IN AUSTRALIA Ping Identity’s sandbox is a DevOps-driven environment that can be deployed in minutes. It now includes the major technical and user experience requirements of the latest CDR specifications, versions 1.3.1 and 1.4, and highlights Ping Identity’s focus to lead the Australian CDR landscape, implementing updated capabilities to meet new compliance requirements as quickly as possible for customers. The new CDR versions establish the groundwork for concurrent consent, which enables a data holder to simultaneously have multiple data sharing arrangements with an individual customer. Previously, consumers had one consent record which needed to be overwritten if another arrangement was made. Further, the OPENING L INES