ProductCloud’s Post

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 April 29th to Sunday, 5th May, 2024 – Powered by ProductCloud.   Residential Mortgages continue to dominate the total number of changes, this week there weren’t many new or decommissioned products but there was a major uptick in changes for products that weren’t Residential mortgages, bolstering the overall numbers. 400 Product Changes: 384 Updates / 16 New or Decommissioned. - 219 Changes to Residential Mortgages - 63 Change to Term Deposits - 52 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 12 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: Greater Bank emerged as the leader this week, implementing a substantial 55 changes to their products, followed closely by Bank Australia  with 51 adjustments and QBANK with 34 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 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 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

The Weekly Tally of ADI Product Changes for Monday 6th of November through Sunday 12th of November 2023 – Powered by ProductCloud. Despite the RBA 25 basis point rate hike, banks had a relatively quiet week after a high volume of residential mortgage rate changes last week. 215 Product Changes – 206 Updates / 5 New / 4 Decommissioned. - 70 Changes to Residential Mortgages - 63 Changes to Term Deposits - 39 Change to Transactions & Savings Accounts Thirty-two organisations made notable adjustments to their products, reflecting a week-over-week decrease of 23 organisations. In this week's report, five organisations have implemented 12 or more changes, as detailed below. Please get in touch with ProductCloud to discuss this or more detailed Open Banking Product Reference Data. #openbanking #product #bank #banking #data #cdr

The Daily Tally ADI Product Changes for the week of Monday the 26th of February through Sunday the 3rd of March 2024 – Powered by ProductCloud. There were an atypical number of changes to Term Deposits this week where the total number was nearly equal to that of the number of Residential mortgage changes. There still seems to be a steady amount of new and decommissioned products occurring, it is likely the banks are using this lull period between significant rate changes to keep their products up to date and making them more contemporary by revamping their portfolios. 374 Product Changes – 348 Updates / 10 New / 16 Decommissioned.  - 129 Changes to Residential Mortgages  - 109 Change to Term Deposits - 37 Changes to Transactions & Savings Accounts Throughout the week, a total of 46 organisations made notable adjustments to their services, reflecting a week-over-week increase of 10 organisations. In this week's report, we observe that 10 organizations have implemented 10 or more changes, as detailed below. We saw that this week there weren’t many major players regarding changes, there were a high volume of organisations that made a minor amount of 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

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 April 8th to Sunday, April 14th,  2024 – Powered by ProductCloud.   A fairly standard week regarding changes, with Residential Mortgages leading the way in terms of changes as per usual. However, there were more than 100 changes this week compared to last week, Transaction & Savings Accounts came in behind RM's but managed to reach triple-digit changes as well. 428 Product Changes: 426 Updates / 2 New or Decommissioned. - 259 Changes to Residential Mortgages - 100 Change to Transactions & Savings Accounts - 28 Changes to Term Deposits   Organisational Numbers: Throughout the week, a total of 33 organisations made notable adjustments to their services, reflecting a week-over-week decrease of 11 organisations making changes to their products. In this week's report, we observe that 16 organisations have implemented 8 or more changes, as detailed below. Top Performers: Bank First emerged as the leader this week, implementing a substantial 129 changes to their products, followed closely by Horizon Bank - Australia with 46 adjustments.   Please contact ProductCloud to discuss this or more detailed Open Banking Product Reference Data. #openbanking #product #bank #banking #data #cdr