Whatever the case, the Reserve Bank, as a service provider, intends to play a role as a holder of data that government agencies can access from services currently provided by the Reserve Bank and as a receiver of data from commercial providers of banking services to government agencies.
This would reduce reporting and analysis costs for the government as well as for the institution from which the data is sourced. Digital identity The NPP and open banking are just two developments that offer significant benefits for business banking customers. As new payment services emerge, it will be important to manage the risks, particularly the risk of fraud and identity theft.