Key Takeaways:
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When applying for a loan with the assistance of your Broker, you may hear terms like "Data Holder" and "Accredited Data Recipient" (ADR). These are important in the context of Open Banking. Here’s a simple explanation:
Data Holder
A Data Holder is a business that currently holds your data. For example, your bank or Authorised Deposit-taking Institution (ADI) is a Data Holder. You, the Consumer, can direct registered Data Holders to make your data available to an ADR.
Accredited Data Recipient (ADR)
An ADR is a business that has been accredited by the Australian Competition and Consumer Commission (ACCC) to receive Consumer Data from a Data Holder. This only happens after you, the Consumer, have given your explicit Consent. The ADR then uses that data for the purpose you have requested. For instance, Frollo is an ADR and uses this data to assist with your financial information sharing for your loan application.
Frollo as an ADR
Frollo is an Australian company (ABN 49 613 113 269) and is an Accredited Data Recipient (ADR) under the Consumer Data Right (CDR). We gained this accreditation by meeting the strict criteria set out by the ACCC.
Finding Registered Data Holders
You can find a list of registered Data Holders on the government’s CDR website: https://www.cdr.gov.au/find-a-provider
As of March 2025, Frollo provides access to collect data from 113 Data Holders (e.g., banks and credit unions).
Non-bank lending participation
Australian Treasury reports that 99.73%* market share of household deposits is already covered by CDR data-sharing.
Further, the Government has mandated non-bank lending participation. Data sharing obligations will come in 4 phases from November 2026 to September 2027 beginning with the largest non-bank lenders and non-complex data requests (CDR Reset).
This is great news for Open Banking users!
*Sources: