Open Banking does not currently extend to superannuation funds. Superannuation funds may utilize Open Banking by applying for accreditation to receive consumer data, however they are not required to be accredited and provide consumer data to consumers or verified 3rd parties, unlike the banks.
The Senate Select Committee on Financial Technology and Regulatory Technology noted the potential of the CDR in the superannuation sector. Prior to Open Banking roll out, the Commission recommended superannuation funds should be included as part of Open Banking. The Commission suggested that this would improve consumer choice of both funds and products.