The Australian Banking Association found banks spent Au$ 1.5 billion over the last 6 years to make Open Banking (or the Consumer Data Right - CDR) work but only 0.3% of customers use it (or about 197,000 active arrangements). The top 5 CDR recipients (Frollo, WeMoney, Flamingo, Beforepay Group and CashnGo Loans) make up three-quarters of total data shares. But Basiq has helped about 930,000 Australians share their data via Open Banking. More data-sharing arrangements on Basiq’s platform are now done through CDR, which has better connectivity performance than the prior method of screen scraping.