Australia’s first account aggregation provider Financial Enrichment has joined forces with global information group CMG Admiral to increase its offerings to the Australian market.
Financial Enrichment, a Macquarie Bank subsidiary, and technology and security group CMG Admiral will provide an Australian based range of solutions for account aggregation to banks, financial institutions and major portals.
Macquarie Bank Internet division head and Enrichment executive chairman Rahn Wood says the enhanced service will meet needs as the industry continues to recognise account aggregation as a service to deliver to its clients.
“Most major banks, financial institutions and major portals realise the imperative of offering account aggregation for their clients and are currently seeking viable solutions,” he says.
The Enrichment account aggregation technology has been operating in the Australian market for more than 12 months, and was orginally developed by Macquarie with assistance from CMG Admiral.
And as regulatory issues surrounding account aggregation are dealt with, Wood says consumer demand for the service is expected to be strong.
“Account aggregation is clearly a high priority offering, for consumers and providers of financial services,” he says.
