Open Banking is a legislated initiative that requires Australia’s banks to give consumers the option to share their data with accredited third parties. It is designed to increase competition in the financial services sector, promote innovation and provide consumers with more control over their personal and financial data.
“We’re really excited about the potential of Open Banking and how it will make the SMSF data feed establishment process much easier for everyone involved – from administrators to trustees,” said Andy Forbes, chief technology officer at SuperConcepts.
Established in 2011, SISS Data Services is Australia’s largest independent provider of secure, customer-consented, bank-approved data; offering both direct data feeds from leading retail banks and open banking access as an Accredited Data Recipient under the Consumer Data Right (CDR).
“ACSISS My Data, our secure data solution, enables consumers to share their transaction data from around 100 banks and financial institutions with their trusted advisers, without sharing their banking passwords. Accountants and advisers with SuperMate will soon be able create an automated, daily data feed from ACSISS Adviser into SuperMate,” said Grant Augustin, managing director at SISS Data Services.
The integration of ACSISS in SuperMate later this year will streamline data feed establishment as well as expanding on the breadth of the 260+ integrations already available.
For more information about the existing new SuperMate SMSF software, visit the SuperConcepts website at https://superconcepts.com.au/SMSF-software/supermate-new. For more information about ACSISS, visit www.acsiss.com.au
