Australia’s leading accredited and active Consumer Data Right (CDR) intermediary Adatrée demonstrated the key capabilities of its SaaS technology solutions by supporting a flexible payment platform Payable by speeding up its first Accredited data recipient (ADR) trip just four weeks. This set the record for the fastest data accreditation request processed in Australia, the announcement notes.
In what can take a year due to the complexity of the technical, business and security readiness issues, Payble was able to complete its ADR application in a month, using Adatree’s ADR Accelerator product for document templates. application and the “Industry Sandbox” from Adatree. , which offers simulations to companies to test their proof of concept before going to market. It also offers them the testing experience of being an ADR, the update revealed.
As mentioned in the update, Payble managed to surpass Adatree’s previously held record for fastest accreditation prep, at 38 days. Payble is one more step towards market launch, which is well ahead of schedule and with significant cost savings.
Payble’s platform aims to correct delays and delays Payments before they actually happen by providing customers with enhanced access to payment flexibility when they need it. Businesses (which include consulting, utilities, insurance providers, among others) will also benefit from Payble, with better fundraising, lower transaction costs, and better customer relationships.
As an accredited data recipient, Payble will check if funds are available in a customer’s account before their invoices are due, and if the money is not available, proactively repair the payment by offering to the customer. customer various payment options – all long before the billing stress begins. settle down.
Jill berry, CEO and Co-Founder of Adatree, said the use case is a demonstration of Adatree’s ability to work cooperatively with companies or businesses focused on accessing consumer data through the Consumer Data Right system. , currently the banking sector, then the energy segment to follow.
As Noted In the announcement, Adatree remains committed to helping businesses access the CDR ecosystem and leverage data to remove barriers to participation in Open Banking.
The ad also mentioned that they were pleased to have helped Payble complete their data recipient accreditation request in just 25 calendar days and well on budget.
As stated in the update:
“Our technology solutions for data recipients ensure a faster and smoother experience for the compliance test suite and allow organizations to focus on their customer value proposition, rather than compliance. Likewise, our ADR accelerator helps aspiring data recipients obtain accreditation six months faster. We hope that this unique “Open Banking in a Box” offering can help minimize the challenges many organizations face in the ADR process. “
Elliott Donazzan, MD at Payble, said:
“It’s a huge accomplishment for Payble and the CDR space to complete a data recipient accreditation request in less than a month. We’ve spent a lot of time building the Payble platform, and the turnkey solution provided by Adatree and all the other parties has allowed us to accelerate our journey ahead of Payble’s launch later this year, in addition to reducing construction and audit costs. “
Adatree would have joined a network of partners in order to combine its expertise and its offerings in a solution which made it possible to implement the Payable ADR application and the AWS Cloud CDR infrastructure in approximately 4 weeks.
This included the cloud infrastructure company specializing in AWS DNX solutions who created the compliance cloud environment for Payble; audit company InsuranceLab who carried out an ASAE3150 information assurance report; and cybersecurity company Astero, which ensures that the Payble platform meets regulated security controls and requirements.