Project Overview:

The Consumer Data Right (CDR) was introduced to grant consumers greater control over their financial data, driving competition and innovation in banking and FinTech. However, for financial institutions to share data securely, a robust compliance framework is essential. To address this need, the Accreditation and Application platform and the Conformance Test Suite (CTS) were developed to help banks and FinTechs test their systems against regulatory requirements while maintaining a smooth user experience.

This challenge went beyond technical considerations and involved complex legislative, policy, and business requirements. The solution needed to be intuitive, accessible, and aligned with the needs of regulators, financial institutions, and consumers.

A cross-sector working group was formed, bringing together banks, FinTechs, policymakers, and regulators. Through workshops, design sprints, and co-design sessions, the group identified user pain points, compliance hurdles, and technical constraints, ensuring the CTS would address real-world industry challenges.

Because CDR legislation is intricate, business analysts, legal teams, and policy advisors collaborated to convert regulations into clear, actionable system functionalities. This approach ensured the CTS remained legally compliant while also being user-friendly. Human-Centered Design (HCD) principles guided the development, meeting WCAG 2.1 AA standards for accessibility and making the platform intuitive for both technical and non-technical users. Early usability testing helped refine the interface, reducing cognitive load for compliance checks.

Research-Driven Prototyping & Iteration:

An iterative approach was used to continuously enhance the CTS based on direct user feedback. Qualitative and quantitative research methods, including usability testing with banks and FinTechs, informed refinements to the information architecture, user journey flows, and interface design, ensuring clarity and efficiency.

Seamless Integration with Banks & FinTechs:

To accommodate a range of financial institutions, the CTS was designed for seamless integration with complex banking APIs and FinTech platforms, maintaining strict security and privacy protocols. This approach ensured flexibility, scalability, and easy adoption.

Conclusion:

Transparency, inclusivity, and security were core values throughout the project. By involving diverse stakeholders, a system was created that works equally well for major banks and smaller FinTech startups. Engineered to be scalable and adaptable, the CTS can evolve alongside CDR policies. The user-centered, research-driven, and collaborative strategy resulted in a compliant, accessible, and efficient solution that empowers financial institutions to navigate the Consumer Data Right with confidence.