ACCC Conformance Testing - Single industry solution for the CTS!

[CDR-API-Stream]

This feedback and commentary was raised on the Standards Repository by @AMBL-CDR under https://github.com/ConsumerDataStandardsAustralia/standards/issues/184 and we have moved it here for transparency:

We are aware there is no direct mechanism for this feedback to be added.

Dear ACCC and CDR,

As discussed at the Treasury Meeting today (18/5/2021) I feel there is growing industry momentum to have a common Conformance Test Suite (CTS) for smaller ADIs.

As such, please consider a single test / approval process for CTS for mutual ADI’s who would use a common banking system, and of course a common version.

Having a single sign-off/ approval mechanism and process for CTS will save time for ADIs, and it will also save us enormous costs.

Cost is a major factor for smaller ADIs given all the other compliance items (as mentioned by Luke Lawler – COBA) that are in progress.

If this service is to provide banking competition, the regulators and respective authorities need to be aware that added costs may in fact force further small bank mergers, which ultimately lessens competition.

Sincerely Mal Webster For Australian Mutual Bank