The Open Data Trends Banks & Fintechs Can’t Ignore in 2025

Australia’s financial services landscape is shifting. Open data is expanding beyond banking, the Consumer Data Right (CDR) is enabling new capabilities, and customers now expect seamless, data-driven experiences. Banks and fintechs that adapt quickly will unlock new revenue streams, while those that don’t risk being left behind. Here’s what’s changing—and how to stay ahead.

CDR Moves Beyond Open Banking

CDR is no longer just a regulatory requirement—it’s a strategic opportunity. In 2025, it extends beyond banks to non-bank lenders, telecommunications, and energy providers, with the biggest shift being the move from data sharing to action initiation. This means consumers will be able to switch providers or make payments directly from third-party apps—removing friction and increasing competition.

Banks and fintechs must develop action-oriented products that simplify switching, payments, and embedded finance experiences.

Embedded Finance is Becoming the Norm

As open data becomes more widely available, financial services are moving into the background. Whether it’s instant credit at checkout, automated savings tools, or budgeting insights powered by real-time data, customers now expect finance to be seamlessly integrated into their daily lives. The question is: will banks and fintechs power these experiences, or will they be left behind?

Financial institutions need robust APIs that integrate effortlessly into third-party platforms.

AI is the Key to Unlocking the Value of Open Data

With the explosion of open data, intelligence is now the differentiator. AI-driven insights are enabling smarter credit decisions, real-time fraud detection, and hyper-personalised banking experiences. Instead of reacting to customer behaviour, leading institutions are now anticipating their needs before they arise.

Investing in AI-powered data analytics will drive both customer engagement and operational efficiency.

Data Privacy & Security Are Make-or-Break Factors

As data sharing increases, so does scrutiny. Customers demand transparency and control over their data, while regulators are setting higher standards for privacy and security. Institutions that lead with a privacy-first approach will build trust and loyalty—those that don’t will face regulatory consequences and customer attrition.

Embedding privacy-enhancing technologies and transparent consent management is critical for long-term success.

From Open Banking to Open Data

Australia’s Data and Digital Government Strategy is broadening access to public datasets, creating new opportunities for financial services. From ESG reporting and credit modelling to cross-industry partnerships, the next wave of innovation will be fuelled by open data beyond finance. The companies that embrace this shift early will gain a significant edge.

Expanding beyond traditional financial data sources will unlock new growth opportunities.

The Bottom Line

In 2025, open data will move beyond compliance and become a competitive advantage. Banks and fintechs that act now—by embedding finance into new ecosystems, leveraging AI, and prioritising trust—will shape the future of financial services in Australia.

Want to stay ahead? Fiskil helps banks and fintechs unlock the full potential of open data with powerful APIs. Let’s talk.