Your Data. Your Choice. 

Open Banking is part of the Australian Government’s Consumer Data Right (CDR) legislation, giving you greater control over your financial data. It allows you to securely share your banking information with accredited third parties, such as financial apps or other banks, to access personalised products and services.

How Open Banking Works

With your consent, Horizon Bank can securely share your selected data with other accredited data recipients.

  • You choose what to share – for example, account balances or transaction history.
  • You choose who to share it with – only accredited third parties approved by the ACCC.
  • You choose how long they can access it – consent is time-limited and can be revoked at any time.

 

Consumer Data Right Policy

Our Consumer Data Right (CDR) Policy contains more information on the Consumer Data Right, including how to access or correct your information, how to make a complaint and how we manage complaints.

More information about the Consumer Data Right is available on the CDR website here.

What Horizon Bank data can I share? 


 

Yes. Protecting your information and privacy is our priority. Open Banking has privacy protections in place to help you share your data safely and securely. These protections include:

  • Choice:
    It’s your choice to participate in Open Banking. Sharing your data with an accredited data recipient is by opt-in only.
  • Control:
    You’re in control. You can manage which data you want to share via Online Banking and the App, including cancelling permissions at any time. You can also ask an accredited data recipient to delete any data you have shared with them.
  • Accreditation:
    Your data will be sent to an accredited data recipient through a secure connection. This connection is governed by strict terms and conditions defined by the Australian Government about how your data must be secured.
  • One Time Password Protected:
    If you choose to share your Horizon Bank data, a one-time password will be sent to you by SMS. We will never ask you to enter your Online Banking password to share your data.

 

How to set up and manage CDR data sharing


 

What are the Open Banking APIs?

Designed in accordance with the Australian Consumer Data Standards, under the Consumer Data Right, Horizon Bank Open Banking APIs will enable third parties to access information about our products.

Developers can use the below APIs to obtain information about all of Horizon Bank's products.

Product API

https://onlinebanking.horizonbank.com.au/OpenBanking/cds-au/v1/banking/products/

Product Details API

https://onlinebanking.horizonbank.com.au/OpenBanking/cds-au/v1/banking/products/[Product ID]
To obtain detailed product information, simply add the Product ID where indicated. The Product ID can be found within the data provided in the Product API.


 

Open Banking Frequently Asked Questions

Do I have to share my bank data?

Sharing your personal data using Open banking is entirely your choice. We will never share your personal data without your consent. If you have a joint account, any joint account holder can share your joint account data, though you will be notified if they do and you have the choice to disable data sharing at any time for any of your joint accounts.

How does Open Banking benefit me?

Open Banking provides a safe and secure way to get all the data you need to make informed decisions about the right banking products for you. You will never need to give your online banking login details to third parties should you wish to share data with them.

Open banking aims to increase competition in the financial services sector, making it easy for you to compare and switch between products and services offered by accredited third parties.

Can I share data from a joint account?

If you have a joint account, any joint account holder can share your joint account data, though you will be notified if they do and you have the choice to disable data sharing at any time for any of your joint accounts.

How can I see my existing sharing arrangements?

Via Online Banking
Log into Online Banking > Click “Accounts” > Click “Data Sharing”

Via the App
Log into the App > Click the Menu icon (3 lines) > Click Security > Click Data Sharing

Can I withdraw my consent at any time?

Yes, you can stop sharing your data at any time via the Data Sharing menu item found in both Online Banking the App.

Alternatively, you can request the change by contacting us.

Will I be charged a fee?

No, under the Consumer Data Right legislation, you will not be charged a fee to share your data with an accredited third party.

We won’t charge an accredited data recipient to access your data either.

What is an Accredited Consumer Data Right Recipient?

An Accredited Consumer Data Recipient is a business or organisation approved by the Australian Competition and Consumer Commission (ACCC) to receive your data via Open Banking.

Accredited Consumer Data Recipients will only be able to access your data if you provide your consent. In consenting to share data you will be able to authorise the type of data you want to share with your selected Accredited Data Recipient.

Will this affect my credit score or accounts?

No. Sharing data through Open Banking does not affect your credit score or banking activity. It simply allows you to access more personalised services.

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