Douugh links with TrueLayer to access Australian open banking data

WealthTech Douugh has partnered with TrueLayer to strengthen its access to open banking data in Australia.

Doughh claims it is on a mission to help customers autonomously budget, save and invest their money to live financially healthier lives.

Under the terms of the agreement, Douugh will pay a fixed monthly fee to TrueLayer for each CDR-connected bank account per active customer. TrueLayer will be Douugh’s CDR Principal and will use its data APIs to collect CDR data on behalf of Douugh, so that Douugh can provide personal financial management services to its Australian customers via its banking super app.

According to TrueLayer, both parties look forward to a long-term partnership as Douugh launches in Australia and explores expanding to additional international locations in the future.

Douugh founder and CEO Andy Taylor remarked, “For our customers to lead financially healthier lives, and for our banking super app to be their financial control centre, the whole financial picture needs to be available in one place, in real time, with all the right information and technology should do that work, not the customer.

“That’s why we have chosen to work with TrueLayer to access consented open banking data under the Consumer Data Right in Australia. TrueLayer is a global open banking leader with technical capability and support right here in Australia and we’re delighted to be working with a world-class partner.”

TrueLayer CEO for Australia and New Zealand Brenton Charnley added, “CDR Representative is one of the most exciting access pathways to open banking data in Australia. At TrueLayer, we love working with Australian fintechs who have a global presence and expansion plans because our single unified data API means we can support our Australian clients both locally and globally. By extension, TrueLayer can provide more services internationally with only local integration as it’s the same tech stack and support environment.”

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