What is the Consumer Data Right (CDR)
The CDR is a government supported and regulated system that was established to give consumers more power over their data and allowing them to safely share their data with accredited third parties like Vivi Money.
This data sharing is secure, voluntary and fully consent driven. CDR participants such as Vivi Money, must pass strict privacy and security checks before they are entrusted to handle your financial information.
An example of CDR is enabling consumers to readily switch banks to take advantage of better pricing, product features or services. For example a consumer can use Vivi Money to access their transaction history and use this information with AI capabilities to recommend a better banking solution without the need to use referral sites and manually gather statements.
Vivi Money uses Basiq as its Open Banking partner who are accredited by the Australian Government and securely empowers data access for nearly 4 million consumers.
How is my information kept secure?
Securing your data is an utmost priority for Vivi Money. As an authorised participant of the CDR we are also bound by government regulations to keep your financial information secure and private using the following protocols:
Data encryption at rest ensuring your data is protected when stored and being transmitted with data managed in a highly protected environment.
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Requiring two-factor authentication for access to all systems to provide an added layer of security.
βContinuous monitoring of our systems to ensure security and respond promptly to unusual activity
βAt all times you have control of your data and can request deletion of data at any time.
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