Wych announced as the newest Accredited Data Recipient
ACCC announced Wych to become the first New Zealand-owned Accredited Data Recipient (ADR) under their Open Banking regulations.
16 December 2021, Auckland, New Zealand
Wych was today accredited by the ACCC, becoming the newest data recipient in the CDR ecosystem.
This will allow Wych to access not only banking and financial CDR data but also data from other industries as they are brought into the CDR regime.
“The pandemic has left many Australians stressed as well as financially stretched.” says Dermot Butterfield, CEO at Wych. “We are thrilled by the announcement, it means we can begin to help those people to achieve their goals. Wych’s focus on automation allows us to take tasks off their to-do list, reducing stress and allowing them to focus on what is important.”
This accreditation is an acknowledgment of the effort of our team in implementing a secure platform to serve customers both in Australia and here in New Zealand from day one. We are grateful to the ACCC and their team for the time and energy they provided to make this a reality.
This is another success story for New Zealand startups that are punching above their weight on the world stage. In the coming months, we will begin to accept our first users onto the platform and look forward to changing lives for the better.
CDR is an economy-wide reform that will be rolled out sector by sector and managed by the ACCC. As it grows, it will become more powerful for Australian households and businesses. The Consumer Data Right has already been rolled out to banking, with the energy sector to follow next and telecommunications to follow as the third sector.