Sun, 30 Mar 2025

What Is a CDR API and Why Does It Matter for Your Fintech Product?

In Australia, the Consumer Data Right (CDR) is reshaping how consumers interact with their financial and energy data. At the core of this transformation are CDR APIs: secure interfaces that allow accredited businesses to access consumer data (with consent) and deliver personalised, data-driven services.

For fintechs, these APIs are more than a compliance requirement—they’re the key to building faster, smarter, more competitive financial products. In this blog, we’ll break down what CDR APIs are, why they matter, and how your fintech business can use them to grow.

What Is a CDR API?

A CDR API is a standardised, secure interface that allows Accredited Data Recipients (ADRs) to access data from Data Holders—such as banks or energy providers—under the CDR framework. These APIs are designed according to the Consumer Data Standards and ensure interoperability, privacy, and strong security.

With a CDR API, your app or platform can request specific pieces of data—like account balances, transaction history, or energy usage—after a consumer gives explicit consent.

Why CDR APIs Matter for Fintechs

For product managers, developers, and innovation leads in fintech, here’s why CDR APIs are a game-changer:

1. Real-Time Consumer Insights

CDR APIs provide access to live, verified financial data. Instead of relying on PDFs or screen-scraping, you get structured, accurate data directly from the source.

2. Better Customer Experiences

By integrating CDR APIs, you can:

Offer personalised budgeting tools
Enable instant credit decisions based on income and spending
Automate financial actions like switching accounts or making payments

3. Regulatory Compliance, Built In

CDR APIs follow strict technical and security requirements set by the ACCC and the Office of the Australian Information Commissioner (OAIC). By using APIs that meet these standards, you build trust and reduce risk.

4. Faster Go-To-Market

Using a standardised API framework speeds up product development. With fewer technical unknowns and publicly documented endpoints, your team can build and iterate faster.

How to Start Using CDR APIs

To use CDR APIs, your business needs to become an Accredited Data Recipient (ADR) or partner with a provider that is already accredited. Here’s a quick roadmap:

Understand the standards – Review the Consumer Data Standards and explore sample endpoints.
Get accredited – Apply via the CDR Participant Portal.
Choose an API provider – If you don’t want to build your own infrastructure, partner with a CDR API provider like Fiskil.
Build and test – Use test sandboxes and reference implementations (e.g., the Postman CDR Collection) to validate your integration.
Launch and monitor – Go live with your use case, ensuring consent and performance monitoring are in place.

Use Cases: What You Can Build with CDR APIs

Digital banks: Show customers all their accounts in one place with real-time balance updates.
Lending platforms: Verify income and spending instantly for faster approvals.
BNPL and credit providers: Make smarter risk decisions with transaction history.
Personal finance tools: Deliver budgeting, goal tracking, and savings automation.
Energy switching apps: Pull usage data to recommend better energy plans.

How Fiskil Can Help

At Fiskil, we provide developer-first, CDR-compliant APIs that take care of the hard parts:

One API to access data from over 140+ banks and energy retailers
Full support for action initiation (e.g. switching accounts or initiating payments)
Secure, consent-based data flows that meet ACCC and OAIC standards
Documentation and SDKs that make integration easy

Whether you’re building a new fintech product or enhancing an existing one, Fiskil gives you the infrastructure to build faster, stay compliant, and go to market with confidence.

Learn more about Fiskil