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  • Writer's pictureDermot Butterfield

Promising FinTech Wych selected as test partner for Australian ACCC CDS/CDR standards


22 June, 2020, Auckland, New Zealand


Wych, the AI-powered financial personal assistant aiming to disrupt the finance space, today announced its selection as a test partner for the forthcoming Australian ACCC. This is a major milestone for Wych, whose mission is to become a leader in the budding Australian Open Banking Market.


It validates the extensive capability of our platform and recognises the effort of the team” says Dermot Butterfield, CEO at Wych. “We believe that we can make a measurable impact on our customers' lives and we look forward to the opportunity to demonstrate this as part of the test plan.”

Wych is an app and voice-enabled AI-powered financial personal assistant that connects to a customer’s bank accounts and other financial service providers. It aggregates the user’s financial information into one platform. The app provides spending trends, budgeting analysis, spending recommendations, and partner referrals. It also automates financial transactions such as payments and savings.


The platform is targeted to consumers and small to medium-sized businesses and enables optimised payments from Wych app customers.


The ACCC partnership comes in the wake of many recent initiatives and accomplishments for the company.

  • Wych received pre-approval for access to a New Zealand bank to accelerate the entry into their local market


  • Wych established a relationship with CurrencyFair to provide their customers with an integrated alternative to their existing international exchange fees

 

About CDR

On 26 November 2017, the Australian Government introduced Consumer Data Right (CDR) in Australia. CDR will give consumers greater access to and control over their data and will improve consumers’ ability to compare and switch between products and services. It will encourage competition between service providers, leading not only to better prices for customers but also more innovative products and services.


 

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