MogoPlus Inks a Partnership with Open Banking Provider TrueLayer

Australia-based MogoPlus has partnered with TrueLayer, a provider of Open Banking, to access financial data using Australia's Consumer Data Right (CDR).

MogoPlus is in the process of becoming an Accredited Data Recipient authorised by the Australian Competition and Consumer Commission (ACCC). TrueLayer was accredited by the ACCC in September 2021 and became active in February 2022.

In collaboration with TrueLayer, MogoPlus will access customer-permissioned bank data in accordance with the CDR Rules. MogoPlus enables enterprises to make customer decisions through descriptive and predictive data insights. The global fintech offers lenders a suite of solutions tailored for specific credit products including home loans, credit cards, personal loans, BNPL, mortgage refinance, hardship assistance, and business lending.

CDR was launched on 1 July 2020 and continues to grow as more providers become accredited and further use cases open up. There are now 16 active data recipients and 106 active data holder brands connected in the CDR ecosystem equating to a 97.7% market share of household deposits.

(Source: The Payppers)