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Weekly ADI Product Changes Report Monday August 2nd to Sunday, 8th September, 2024 – Powered by ProductCloud.   This was the biggest week the banking sector has had in quite some time, reaching over 500 total changes. The high volume of changes made to Residential Mortgage products bolstered the changes this week, making up 60% of the total changes 502 Product Changes: 495 Updates / 7 New or Decommissioned. - 305 Changes to Residential Mortgages - 54 Change to Term Deposits - 44 Changes to Transactions & Savings Accounts   Organisational Numbers: Throughout the week, a total of 47 organisations made notable adjustments to their services, reflecting week over week increase of 7 ADI’s making changes to their products. In this week's report, we observe that 15 organisations have implemented 10 or more changes, as detailed below. Top Performers: Southern Cross Credit Union emerged as the leader this week, implementing 92 changes to their products, followed by BCU Bank with 49 adjustments, then Bankwest with 37 changes and P&N Bank behind them with 32 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 June 3rd to Sunday, 9th June, 2024 – Powered by ProductCloud.   Following a pretty insignificant week with a minor amount of changes, the industry decided kick it back up a notch just before the Kings Birthday long weekend with a 68% increase in product changes. There was a substantial increase in Residential Mortgage product changes on top of a general increase across the board. 425 Product Changes: 380 Updates / 45 New or Decommissioned. - 146 Changes to Residential Mortgages - 39 Change to Transactions & Savings Accounts - 30 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 10 ADI’s making changes to their products. In this week's report, we observe that 12 organisations have implemented 12 or more changes, as detailed below. Top Performers: Bank First emerged as the leader this week, implementing 77 changes to their products, followed closely by Macquarie Credit Union with 73 adjustments, then Australian Mutual Bank Ltd and BankWAW with 36 and 35  changes respectively and QBANK 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 1st to Sunday, 7th July, 2024 – Powered by ProductCloud.   There was a decent 41% increase to the overall number of changes this week with a decrease of 30% in volume of Residential Mortgage changes which is rather unusual as these changes usually are the predominant source of change in the industry. 370 Product Changes: 322 Updates / 322 New or Decommissioned. - 123 Changes to Residential Mortgages - 65 Change to Transactions & Savings Accounts - 49 Changes to Term Deposits   Organisational Numbers: Throughout the week, a total of 43 organisations made notable adjustments to their services, reflecting week over week increase of 17 ADI’s making changes to their products. In this week's report, we observe that 10 organisations have implemented 10 or more changes, as detailed below. Top Performers: First Option Bank emerged as the leader this week, implementing 52 changes to their products, followed by Bank Australia with 44 adjustments, then CommBank Business and Institutional with 25 changes and IMB 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 June 17th to Sunday, 23rd June, 2024 – Powered by ProductCloud.   The banking industry continues to trend downward in volume of changes with a total decrease of 5.6% in total changes compared to last week. Notably, Residential Mortgage changes have fallen below 100 changes this week as well. 212 Product Changes: 196 Updates / 16 New or Decommissioned. - 79 Changes to Residential Mortgages - 49 Change to Transactions & Savings Accounts - 39 Changes to Credit & Charge Cards   Organisational Numbers: Throughout the week, a total of 24 organisations made notable adjustments to their services, reflecting week over week decrease of 10 ADI’s making changes to their products. In this week's report, we observe that 6 organisations have implemented 10 or more changes, as detailed below. Top Performers: CommBank emerged as the leader this week, implementing 59 changes to their products, followed by Arab Bank Australia Limited with 30 adjustments, then Southern Cross Credit Union with 21 changes and G& Mutual 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

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 May 20th to Sunday, 26th May, 2024 – Powered by ProductCloud.   There was a decrease in Residential Mortgage updates this week, thus causing a decrease in overall product changes from the typical average of around 400/week. 314 Product Changes: 249 Updates / 65 New or Decommissioned. - 113 Changes to Residential Mortgages - 57 Change to Transactions & Savings Accounts - 38 Changes to Term Deposits   Organisational Numbers: Throughout the week, a total of 37 organisations made notable adjustments to their services, reflecting week over week decrease of 2 ADI’s making changes to their products. In this week's report, we observe that 10 organisations have implemented 8 or more changes, as detailed below. Top Performers: BankVic emerged as the leader this week, implementing a substantial 76 changes to their products, followed by CommBank Business and Institutional with 39 adjustments and BankWAW with 36 changes and Gateway Bank slightly behind them with 35 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

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 June 24th to Sunday, 30th June, 2024 – Powered by ProductCloud.   There was a modest 23.5% increase in volume of changes week over week as the financial year came to a close. Once again Residential Mortgage changes dominated the week occupying a major 68.4%, with an additional 122% changes to Resdential Mortgage products compared to last week. 262 Product Changes: 257 Updates / 5 New or Decommissioned. - 176 Changes to Residential Mortgages - 30 Change to Transactions & Savings Accounts - 27 Changes to Term Deposits   Organisational Numbers: Throughout the week, a total of 26 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 10 organisations have implemented 8 or more changes, as detailed below. Top Performers: Bank First emerged as the leader this week, implementing 56 changes to their products, followed by Souther Cross Credit Union with 46 adjustments, then Bank Australia with 39 changes and CommBank 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

Weekly ADI Product Changes Report Monday May 13th to Sunday, 19th May, 2024 – Powered by ProductCloud.   There was an increase in non-Residential Mortgage product changes this week but nothing particularly out of the ordinary. 474 Product Changes: 407 Updates / 67 New or Decommissioned. - 200 Changes to Residential Mortgages - 92 Change to Term Deposits - 61 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 6 ADI’s making changes to their products. In this week's report, we observe that 14 organisations have implemented 10 or more changes, as detailed below. Top Performers: Hume Bank emerged as the leader this week, implementing a substantial 86 changes to their products, followed by Woolworths Team Bank with 44 adjustments and CommBank Business and Institutional with 44 changes.   Please contact ProductCloud to discuss this or more detailed Open Banking Product Reference Data. #openbanking #product #bank #banking #data #cdr