How did Data Holders perform in year 2 of the Consumer Data Right?

In this article, we provide an overview of Data Holder API performance (speed and reliability) in year 2 of the CDR.

Every month we publish our Open Banking API performance monitor, where we track the speed and reliability of Open Banking APIs in Australia. With the celebration of 2 years of Consumer Data Right (CDR) in Australia behind us, we thought it would be a good time to take a step back and look at the industry performance over the last 12 months.

Last week we published ‘Taking Stock: Two years of Open Banking in Australia‘, in which we reflect on the progress we’ve made and the year ahead. Today we’re zooming in on the Data Holder performance metrics.

Data Holders entering the ecosystem

In the last 12 months, approximately 100 (!) new Data Holders have become ‘Active’ on the CDR Registry. That’s an incredible number of new participants, increasing the coverage of products and financial institutions for consumers.

Though, not all of these Data Holders are included in our analysis. To be included, a Data Holder has to:

  • Be live on the Frollo Open Banking platform. This only happens when the Data Holder solution is confirmed to work in production and to provide a good user experience
  • Receive a sufficient number of API calls to make a reasonable comparison with other Data Holders

79 Data Holders qualified for inclusion in June 2022, 54 for the entire Year 2 overview.

Industry performance over time

As the number of new providers, products and API calls increased, the average response time went from 0.85 seconds in July 2021 to 0.97 seconds in June 2022. The average reliability (percentage of successful API calls) went from 98.7% to 97.4%.

Open Banking API performance - industry average to June 2022
Click to enlarge

Year 2 performance by Data Holder

The average speed and reliability for all Data Holders in year 2 of the CDR are 0.89 seconds and 98.4%.

Out of the 54 Data Holders included in this analysis, 16 were fast (< 1 second) and reliable (>97.5%). 10 Data Holders had an average reliability of less than 90%, and 7 had an average response time of more than 2 seconds. 

Neobank Up tops the charts with an incredible 0.28 second response time and 99.89% reliability.

Year 2 - Data Holder API performance - average by brand
Click to enlarge

For June 2022 performance by Data Holder, see our latest Open Banking API performance monitor.

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