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Account opening

Engage customers at the first click

Set the stage for an elevated experience with seamless, secure account opening.

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Spotlight

The future is wide open

Impactful account opening journeys are powered by data.

3 in 1

Gen Z consumers have shared or would share their financial data for the purpose of opening a new bank account.

1 in 4 Australians

The aspirational target for active CDR use by 2030. 

No. 2

Everyday banking transactions rank second among the top open banking use cases. 

93%

Of B2B respondents say they trust Mastercard to share financial data

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The Mastercard difference

Our account verification solutions are powered by Mastercard Open Finance, enabling real-time, consented data access through Australia’s Consumer Data Right (CDR) ecosystem. By digitally verifying account ownership, account details and balances, we help organisations meet local AML/CTF and KYC obligations, while reducing fraud risk and improving payment reliability.

Real-time account opening and funding solutions

Consumer-permissioned data sharing through the consumer data right.

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Authenticate quickly and accurately

Account owner verification:

Simplify account opening’s biggest security challenge: identity verification.

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Mitigate fraud risk

Identity insights:

Validate ownership data against network-based identity insights with a single API call.

 

 

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Streamline onboarding

Real-time authentication:

Forget micro-deposits and notifications that take days — our solutions deliver results now.

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Boost payment success and reduce fees

Balance check:

Instant account balance checks improve payment success.

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Deliver a seamless experience

Consent management and connectivity

Consumers can easily permission their account data to enable and enhance new financial experiences

1. Mastercard Rise of Open Banking Report, 2024.

2. Mastercard, Small and Medium Enterprises are Big Business Report, 2023. 

3. Mastercard Economics Institute, Recovery Insights: Small Business Reset, 2021. 

4. Australian Banking Association – SME Lending Report 2022