Consumer Data Right
What is a nominated representative in CDR?
Gain clarity on the role of a Nominated Representative in CDR with Fiskil's comprehensive guide. Understand responsibilities, requirements, and strategies.
What is a nominated representative?
A nominated representative is a person that is appointed to give, amend and manage authorisations to share CDR data from your organisation’s nominated facility or facilities with accredited data recipients.
An organisation must nominate at least one individual who is at least 18 years of age to be a nominated representative, in order to engage in CDR data sharing. Although the CDR rules do not otherwise restrict who can be a nominated representative, it is common practice that nominated representatives will be employees or contractors of the organisation.
If an organisation does not have a nominated representative, then it will be unable to share CDR consumer data.
How can a business set a nominated representative?
Some key pointers for selecting and nominating a representative for your organisation:
Choose an individual within your organisation with the necessary skills, knowledge, and authority to act as the nominated representative. This individual should understand the CDR framework and your organisation's data-sharing policies. Read our insightful blog on “What is the Consumer Data Right (CDR)?”
Ensure that the nominated representative is an individual aged 18 or older. The CDR Rules do not otherwise restrict who can be a nominated representative.
Directors or partners are not automatically appointed as nominated representatives. No particular position within a business automatically takes the role of nominated representative. The CDR Rules also do not specify who within a business or partnership can select a nominated representative.
Data holders can integrate the nomination process into existing procedures to minimise customer friction. For instance, during business account setup, the data holder may prompt the business to select permissions, including those for CDR data sharing.
Approval for the nomination of a representative in a partnership is not necessary for all partners. In some cases, a mutual agreement between data holder and a business partnership customer can determine whether all partners, some partners or a particular partner are required to endorse a nomination for an individual to be recognized as a nominated representative.
What is the role of a nominated representative?
After authentication, the nominated representative gains the ability to give, modify, and manage authorizations for the data holder to disclose CDR data on behalf of the CDR consumer.
According to the CDR rules, a data holder is required to provide a consumer dashboard to customers (who are non-individuals or partners within a partnership). This dashboard is intended for use by the nominated representative, allowing them to access and manage data sharing on behalf of the CDR consumer.
You can access the Nominated representatives of non-individuals and partnerships in CDR Fact Sheet here.
How can Fiskil assist your business in staying up-to-date with regulatory changes?
Fiskil offers two key solutions: a secure SaaS Data Holder and robust Data APIs. Trusted by top Energy Retailers and Banks, our Data Holder solution ensures safe and compliant data sharing. Our Data APIs extend this capability, covering over 97% of Australia's Banking and Energy sectors, enabling secure customer data access. Our commitment to innovation empowers enterprises and startups alike with tools for strategic growth and effective data management. Get in touch.
