Wych activates on CDR register with Wych Data, the second product activated in six months.
Wych, who use AI data-driven technology to do more with money, today announced the completion of their CDR conformance testing and activation on the Consumer Data Rights (CDR) register for Wych Data.
The Wych team are no strangers to the CDR journey with the ACCC (Australian Competition and Consumer Commission) having completed activation for Wych’s personal finance assistant, Wych Money in March 2022. Since then they have been focused on completing the rigorous regulatory requirements that form the CDR journey for Wych Data.
"Putting two products through the CDR process is a major achievement."
Wych Data is a suite of three products aimed at the business market. Through Wych’s AI-based technology, corporate customers can use their own CDR accreditation or use Wych’s to harness data to better understand their customers. Wych can do the work for them in terms of analysis and comes with a white-label option.
CEO of Wych, Dermot Butterfield said, “Putting two products through the CDR process is a major achievement. We work closely with personal data so excellence in systems and processes is a must for us. We can receive data from data holders, like banks, who also go through a similar process as data holders. It’s all worth it though, we now have two products ready for both banking and the energy sectors with system requirements in place for future industries to be added.”
Dermot credited the speed of completion of CTS to the flexibility of the Wych Platform and an amazing technical team.
Wych is an expanding start-up that launched from a home base in Titirangi, Auckland. It now has two products launching to the consumer and business markets in Australia and then into New Zealand.
Wych Money is a personal financial assistant empowering customers to take control of their finances through an AI-powered app.
Wych Data enables businesses and financial advisors to connect with their customers to accelerate the customer’s goals.
Founded by Dermot Butterfield, an experienced technology innovator, Wych is on a mission to help turn its customer’s money into wealth. To learn more visit www.wych.app
About the Australian Competition and Consumer Commission (ACCC)
The Australian Competition and Consumer Commission (ACCC) is an independent Commonwealth statutory authority whose role is to enforce the Competition and Consumer Act 2010 and a range of additional legislation, promoting competition, fair trading, and regulating national infrastructure for the benefit of all Australians.