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Weekly ADI Product Changes Report Monday August 12th to Sunday, 18th August, 2024 – Powered by ProductCloud.   There were a large volume of rate changes within residential mortgages this week surrounding speculative rate changes coming in from the RBA soon. However, there was a large volume of changes the changes to the rates themselves were very minimal during this wait and see approach. 349 Product Changes: 342 Updates / 7 New or Decommissioned. - 191 Changes to Residential Mortgages - 56 Change to Transactions & Savings Accounts  - 52 Changes to Term Deposits   Organisational Numbers: Throughout the week, a total of 39 organisations made notable adjustments to their services, reflecting week over week increase of 5 ADI’s making changes to their products. In this week's report, we observe that 11 organisations have implemented 10 or more changes, as detailed below. Top Performers: Greater Bank emerged as the leader this week, implementing 47 changes to their products, followed by Southern Cross Credit Union with 45 adjustments, then MOVE Bank with 33 changes and Auswide Bank Ltd behind them with 28 changes.   Please contact ProductCloud to discuss this or more detailed Open Banking Product Reference Data. #openbanking #product #bank #banking #data #cdr

Weekly ADI Product Changes Report Monday August 5th to Sunday, 11th August, 2024 – Powered by ProductCloud.   This week was another quiet one, however, with the caveat that Hume Bank had a very busy week and bolstered the overall numbers by quite a margin with their 102 changes registered. Residential Mortgages also dominated the changes with a volume of 71% of all changes being under that category. 256 Product Changes: 244 Updates / 12 New or Decommissioned. - 182 Changes to Residential Mortgages - 23 Change to Transactions & Savings Accounts - 17 Changes to Term Deposits   Organisational Numbers: Throughout the week, a total of 34 organisations made notable adjustments to their services, reflecting week over week increase of 2 ADI’s making changes to their products. In this week's report, we observe that 11 organisations have implemented 5 or more changes, as detailed below. Top Performers: Hume Bank emerged as the leader this week, implementing 102 changes to their products, followed by Defence Bank with 26 adjustments, then Arab Bank Australia with 26 changes and ubank behind them with 11 changes.   Please contact ProductCloud to discuss this or more detailed Open Banking Product Reference Data. #openbanking #product #bank #banking #data #cdr

Weekly ADI Product Changes Report Monday July 29th to Sunday, 4th August, 2024 – Powered by ProductCloud.   A week of reduced activity, likely influenced by uncertainty surrounding the RBA’s upcoming interest rate changes. 298 Product Changes: 298 Updates / 0 New or Decommissioned. - 110 Changes to Residential Mortgages - 77 Change to Transactions & Savings Accounts - 49 Changes to Credit & Charge Cards   Organisational Numbers: Throughout the week, a total of 32 organisations made notable adjustments to their services, reflecting week over week decrease of 3 ADI’s making changes to their products. In this week's report, we observe that 8 organisations have implemented 12 or more changes, as detailed below. Top Performers: Unibank emerged as the leader this week, implementing 37 changes to their products, as did Firefighters Mutual Bank with 37 adjustments, then Bankwest with 21 changes and Queensland Country Bank slightly behind them with 20 changes.   Please contact ProductCloud to discuss this or more detailed Open Banking Product Reference Data. #openbanking #product #bank #banking #data #cdr

🚀 ** Partnership Announcement!** 🚀 ProductCloud and Widget Works to partner. ProductCloud, a leading product information management and CDR compliance platform, now integrates with Widget Work's innovative modern financial calculators for finance and banking. Mark Evans, Co-founder and CEO of ProductCloud, remarked, "As one of the first CDR products on the market, we developed ProductCloud to improve the lives of Product Managers who needed a better way to manage and govern products. The opportunity to work closely with the Widget Works team on the highly successful Heritage Bank and People's Choice merger has led to this ongoing collaboration of two highly complementary, innovative products".    Alistair Bruce, Director of Widget Works, added, "Having worked with People's Choice and Heritage Bank over several years, it was an excellent opportunity to develop a solution with the team at ProductCloud to optimise the bank's rate change process. We love a happy Product Manager, and this new solution ticks all the boxes." To discover how this innovative partnership supported Heritage Bank and People's Choice Product Teams during their merger and how we could support you, please contact: https://lnkd.in/gS2Gz6w5 https://lnkd.in/gMxGxaGy #OpenBanking #ConsumerDataRight #innovation #Fintech #Collaboration #FintechAustralia #RegtechAustralia

Our CTO, James Bligh, has more thoughts on why the current CDR criticism appears misguided.

Weekly ADI Product Changes Report Monday July 22nd to Sunday, 28th July, 2024 – Powered by ProductCloud.   There was increased productivity, with the banking sector jump of 37% in changes week over week. This week both Residential Mortgages and Transaction & Savings Accounts managed to rack up at least 100 changes per category. 423 Product Changes: 393 Updates / 30 New or Decommissioned. - 162 Changes to Residential Mortgages - 100 Change to Transactions & Savings Accounts - 27 Changes to Term Deposits   Organisational Numbers: Throughout the week, a total of 35 organisations made notable adjustments to their services, reflecting week over week decrease of 4 ADI’s making changes to their products. In this week's report, we observe that 13 organisations have implemented 10 or more changes, as detailed below. Top Performers: Auswide Bank Ltd emerged as the leader this week, implementing 46 changes to their products, followed by Queensland Country Bank with 44 adjustments, then Broken Hill Community Credit Union with 42 changes and Unibank and Firefighters Mutual Bank slightly behind them with 40 changes.   Please contact ProductCloud to discuss this or more detailed Open Banking Product Reference Data. #openbanking #product #bank #banking #data #cdr

Weekly ADI Product Changes Report Monday July 15th to Sunday, 21st July, 2024 – Powered by ProductCloud.   It looks like this volume of changes in the 250-400 range per week is the typical that should be expected outside of when there are big rate changes that send the industry into overdrive.   308 Product Changes: 306 Updates / 2 New or Decommissioned. - 176 Changes to Residential Mortgages - 73 Change to Term Deposits - 27 Changes to Transactions & Savings Accounts   Organisational Numbers: Throughout the week, a total of 39 organisations made notable adjustments to their services, reflecting week over week increase of 9 ADI’s making changes to their products. In this week's report, we observe that 11 organisations have implemented 10 or more changes, as detailed below. Top Performers: QBANK emerged as the leader this week, implementing 36 changes to their products, followed by Woolworths Team Bank with 31 adjustments, then People's Choice Credit Union with 28 changes and  P&N Bank slightly behind them with 23 changes.   Please contact ProductCloud to discuss this or more detailed Open Banking Product Reference Data. #openbanking #product #bank #banking #data #cdr

Weekly ADI Product Changes Report Monday July 8th to Sunday, 14th July, 2024 – Powered by ProductCloud.   There was a decent 41% increase to the overall number of changes this week with a massive increase of 130% in volume of Residential Mortgage changes. 472 Product Changes: 449 Updates / 23 New or Decommissioned. - 284 Changes to Residential Mortgages - 66 Change to Transactions & Savings Accounts - 65 Changes to Term Deposits   Organisational Numbers: Throughout the week, a total of 30 organisations made notable adjustments to their services, reflecting week over week decrease of 13 ADI’s making changes to their products. In this week's report, we observe that 10 organisations have implemented 14 or more changes, as detailed below. Top Performers: Bank First emerged as the leader this week, implementing 143 changes to their products, followed by First Option Bank with 68 adjustments, then Australian Mutual Bank Ltd with 56 changes and BankWAW slightly behind them with 39 changes.   Please contact ProductCloud to discuss this or more detailed Open Banking Product Reference Data. #openbanking #product #bank #banking #data #cdr

BTW. ProductCloud supports product managers in creating, storing, governing and publishing TMDs under the DDO provisions.

BTW. ProductCloud supports product managers in creating, storing, governing and publishing TMDs under the DDO provisions.