Macquarie Group announces new Macquarie Open Platform

Alison Banney 24 May 2017 NEWS

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The Group today announced the Macquarie Open Platform to facilitate seamless data integration for its customers.

Head of personal banking at Macquarie Group, Ben Perham, today announced the launch of the Macquarie Open Platform at CeBIT 2017, in a presentation on the digital banking experiences that customers demand, attended by finder.com.au.

Perham spoke of the three things customers not only want, but expect from their bank; personalised banking, intuitive platforms and, lastly, seamlessly connected experiences. He said Macquarie is already delivering on the first two, and the Macquarie Open Platform is a natural next step, allowing customers to seamlessly connect their banking data with other services.

“I’m delighted to be announcing today the Macquarie Open Platform. The Macquarie Open Platform is a new offering for Macquarie and our response to customer demand for more control over their data and the ability to connect their data from their banking with the rest of their digital lives,” said Perham.

“We know that customers want to do this, because they’re doing it already, the problem is that up until today the only option for doing this has been in a way that is not secure by sharing their login credentials. The Macquarie Open Platform is delivering another first in banking.”

“Security has been a key non-negotiable for us. We’re using the latest industry best practice security protocols….it means that we’re giving customers complete control, in that they can choose to connect these services if they wish to, and disconnect if they want,” he said.

Ben Perham said the new platform is set to allow for secure, easy data sharing between approved third parties. The bank has a list of reputable fintech organisations on board with the new offering, which are set to be announced in the coming weeks.

In addition, the Macquarie Open Platform is providing a sandbox with open access for fintechs to easily access test data that mimics customer data.

By allowing open access to this fake customer data, Macquarie hopes that fintech organisations will experiment and innovate, and develop new customer experiences and platforms.

Macquarie Group will officially announce the Macquarie Open Platform including a list of partnering fintechs in the coming weeks, and while we don’t know too many details about the offering yet, we’re excited. More to come!

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2 Responses

  1. Default Gravatar
    PlMay 24, 2017

    How about instant transfers between macquarie accounts? Seems ludicrous that it takes one business day to transfer money from one macquarie mortgage account to another.

    • Staff
      HaroldMay 25, 2017Staff

      Hi PI,

      Thank you for your inquiry.

      Unfortunately we don’t have the direct access to that information. But typically, with online banking you can make instant transfers between your Macquarie Savings Account and linked transaction account 24/7. The transaction limit up to balance of your Macquarie Bank transaction account. You can also view your Macquarie Savings Account statements online.

      Cheers,
      Harold

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