Non-bank lenders have been ushered into the Consumer Data Right, a move which is set to reshape how borrowers and brokers compare, select, and switch loans in the years ahead.
The Australian Competition and Consumer Commission (ACCC) has revealed a staged timetable that will require non-bank lenders to feed both product and customer data into the Consumer Data Right (CDR), extending a regime that has so far centred on banks and energy retailers.
From Monday (13 July), non-bank lenders must start publishing standardised product reference data through the CDR, including advertised interest rates, fees, charges, and key eligibility settings.
The ACCC said that these new feeds were designed to power a richer ecosystem of comparison and switching tools.
The regulator said that sharing product information under CDR “supported the development of comparison services and would help consumers and small businesses to access better value and improved loan options”.
CDR first came into force in 2020 when the major banks began opening up data, before being extended across the broader banking sector and into energy.
Customer data on the way from late 2026
Select non‑bank lenders will also need to start sharing consumer data via CDR from 9 November 2026, with other large providers following from 10 May 2027.
The second phase will allow customers to instruct their lender to send detailed account information to accredited recipients, including brokers’ and fintechs’ tools, under strict consent and security rules.
ACCC commissioner Ian Oppermann pitched the expansion as a way of giving households and small businesses a wide-angle view of their finances.
“The expansion of the Consumer Data Right to non-bank lenders is a significant step in giving consumers access to information about the broadest possible range of financial products,” he said.
“The inclusion of non-bank lenders in the CDR will give consumers a more complete picture of some of the largest household costs, including their mortgage, power bill, and car finance and personal loans.”
CDR usage has already picked up pace, with more than 1.3 million Australians using CDR‑enabled services, with participation growing by around 135 per cent over the past year.
The ACCC expects that number to climb further once non‑bank lenders are in the mix.
“Loans are among the biggest financial commitments for many Australians. Making more product information available in a consistent way will help comparison services and other CDR-enabled tools give consumers better information when they are looking to borrow from a non-bank lender,” Opperman said.
At least 35 additional data holders – businesses that store customers’ financial information – are expected to join the CDR as part of the non‑bank rollout.
The ACCC and the Office of the Australian Information Commissioner will continue to jointly supervise the regime, monitoring both how data is shared and protected.
The regulators said that poor data quality and missed implementation deadlines were high on its compliance agenda, with the ACCC stating that it had previously taken enforcement action where firms had failed to meet CDR obligations.
The ACCC said that it had been working with lenders and other CDR agencies to help them prepare, including publishing sector‑specific guidance and a compliance handbook tailored to banking and non‑bank lending data holders.
Non-bank sector says move reflects maturity
Bluestone Home Loans chief commercial officer Tony MacRae said the expansion reflected a step change in how the sector managed and used data.
“The extension of the Consumer Data Right to non-bank lenders signals a sector that has matured, along with the data behind it,” he said.
“At Bluestone, operating within a robust compliance framework has always been part of how we do things. CDR is a natural next step, giving consumers more control and clearer visibility of their financial data, regardless of lender type.”
He also underlined the practical upside he expects to see as the new regime sets in.
“Over time, that means simpler comparisons, smoother applications, and more confident decisions for both brokers and borrowers,” he said.
Budget funding and the next frontier for CDR
The non‑bank rollout is landing alongside fresh federal investment in CDR’s next chapter.
In the 2026–27 federal budget, the Albanese government earmarked $62 million over two years – starting in 2026–27 – to widen participation in the system and explore how Australian Taxation Office (ATO) data could be brought into the framework.
One strand of that work will test whether using CDR in tandem with Digital ID can make processes such as rental applications less intrusive and more secure, by reducing the need for applicants to hand over copies of payslips and identity documents to multiple agents.
Industry associations, including the Mortgage and Finance Association of Australia (MFAA), have been lobbying for CDR to extend to ATO notices of assessment, income tax return information, and ASIC company registry data.
The associations said that secure, consent‑based access to these sources could help reduce mortgage fraud, speed up verification, and give lenders a clearer picture of serviceability.
[Related: Calls grow to expand CDR as AI heightens data risks]
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