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Open Banking

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Open Banking is a way for you to have more control of your banking data and for you to compare what banks offer and more easily access new products and services offered by banks and other third parties.

Open Banking is enabled through the Consumer Data Right (CDR) framework legislated by the Australian Government.

Find out more on Open Banking below.

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  When does it start?

There are two stages to making Open Banking fully available. The first is for banks to release generic ‘Product Reference Data’, which is all the key information about their products and services – transaction accounts, savings accounts, credit cards, personal lending, and home loans. This first stage was delivered in two phases, both of which South West Credit has completed. This means our Product Reference Data is available now.

The second stage is for banks to make name and contact information, bank account details, and transaction data available for sharing. This is your CDR data and will enable you to share your account and transaction data with Accredited Data Recipients to more easily take advantage of new offers, products and services.

South West Credit's introduction of Open Banking has been delayed but you will be able to allow sharing of your South West Credit CDR data in late 2021.

Accredited Data Recipients must meet strict criteria with respect to how they manage CDR data and are regulated by the Australian Competition and Consumer Commission (ACCC) and the Australian Information Commissioner (OAIC).

  Is my data safe?

Data security is a primary focus for South West Credit and of Open Banking more generally. It will be your decision whether to share your CDR and all participants who send or receive data under Open Banking must meet strict accreditation criteria, privacy and security standards and be accredited by the Australian Competition and Consumer Commission (ACCC).

  How do I access data?

You will initiate any data sharing through a consent request offered by accredited third parties when you apply for a product or service. When you consent to sharing, you will also be asked by South West Credit to authorise it to share your data. This is the only way to share your data – you cannot share any data without first providing your consent to both the Accredited Data Recipient and South West Credit (the Accredited Data Holder).

Open Banking data is made available through a set of Application Programming Interfaces (API’s) which support exploring South West Credit’s Product Reference Data. Anyone can access this data, but as it is intended to support the delivery of new services a specialist developer tool for interacting with API’s is required.

South West Credit's Product Reference data can be accessed through the following API endpoints:

This information is undergoing maintenance, please try again later.

More information on the structure of the API request and responses, can be found at Consumer Data Standards Australia

Get Products
https://consumerdatastandardsaustralia.github.io/standards/#get-products

Get Product Detail
https://consumerdatastandardsaustralia.github.io/standards/#get-product-detail

  More information on Open Banking:

View South West Credit's Consumer Data Right (CDR) Policy

For more information on the CDR and Open Banking, please refer to the Australian Competition and Consumer Commission.

  Amigo Credit Card (Product Details API):

Product Details API for AMIGO Credit Card
https://netbank.yourmutual.com.au/ym-openbanking/cds-au/v1/banking/products/S34-AMIGO-SWCU

For further technical details of the above APIs, please visit the Consumer Data Standards website.

  Additional Information: