We get it—sharing your banking data might sound a bit scary at first. But with Open Banking, you’re always in control. It’s a government-regulated system designed to give you more power over your financial information—not less.

At Spendi, we’re here to help you save money and win your money back without ever compromising your privacy or security.

Think of us like a financial, rewards service that works everywhere – but without the hassle of scanning or keeping track of receipts.

Your data is yours, and we’ll only use it to benefit you – whether that’s by unlocking 100% cashback rewards, entering you into daily and major prize draws, or helping you spend smarter. We’ll never sell your data or use it for advertising.

With bank-level encryption, government oversight, and full transparency, you can trust that your information is protected every step of the way.

What is Open Banking?

Open Banking is an Australian Government initiative that allows you to securely share your banking data with trusted providers. It’s completely optional and puts you in control – you decide who can access your information, what they can see, and when to stop sharing it. 

To ensure satisfactory levels are met for open banking providers, the Australia Competition & Consumer Commision (ACCC) monitors the program and approves authorised representatives. An authorised representative is an accredited data recipient and CDR recipients work with accredited data recipients to provide safe and secure platforms to allow users to access their data.

Spendi is a listed CDR Representative of CDR RepresentativePprincipal and Accredited Data recipience, Yodlee Inc, to securely allow our users safe acces their banking data.

At Spendi, we use Open Banking to give you:

• Daily and major prize draws—automatically enter with every eligible purchaser
• 100% Cashback rewards—earn real money back without lifting a finger.
• Financial insights all your transactions and banking data.
• Smarter spending insights—find ways to save more without changing your habits.

No scanning cards, no uploading receipts—just spend as you normally do, and we’ll do the rest.

How Does Open Banking Keep My Data Safe?

We know security is a top concern, and it should be. That’s why Open Banking is built on bank-grade security standards and strict government regulations under the Consumer Data Right (CDR).

Here’s how it protects you:

• Bank-level encryption keeps your data safe during transfers.
• No passwords stored—we never see or save your login details.
• Compliant providers like Spendi can access your data (and yes, Spendi ticks all the boxes).
• Full control—you choose what to share, and you can revoke access anytime.

What Does Open Banking Let Spendi Do?

Open Banking gives us the tools to:

1. Financial insights allowing you to gain better control over your finances.
2. Enter You into Prize Draws Automatically –
   Every eligible transaction becomes an entry into daily and major prize draws, no need to scan cards or receipts.
3. Help You Earn 100% Cashback Rewards – Get money back on everyday purchases without changing where or how you shop.
4. Find Ways to Save – Receive insights into your spending and subscriptions, helping you cut costs and grow your savings.
5. Protect Your Data – With bank-grade encryption and government backed regulations, your information stays secure.

Frequently Asked Questions About Open Banking with Spendi

1. Is Open Banking safe?
   Yes. Open Banking is government-regulated and follows strict security standards. Spendi is a CDR Representative of Yodlee Inc, who are an Accredited Data Provider by the ACCC.
2. Can Spendi sell my data?
   Never. We do not sell your data – never. It’s only used to benefit you through 100% cashback rewards and prize entries.
3. How do I stay in control of my data?
   You’ll always have the power to choose what data to share, who can access it, and when to revoke access – right from the app.
4. What can I win with Spendi?
   Prizes include:
   • Daily cash giveaways based on your transactions.
   • Major weekly draw prizes.
5. Do I need to change how I shop?
   Not at all. Spendi works in the background – just spend as usual, and we’ll take care of the rest.
6. What happens if I stop using Spendi?
   We’ll delete your data and stop accessing your accounts immediately.

Why Spendi Makes Open Banking Even Better

With Spendi, you get all the benefits of Open Banking without the hassle:

• Track all of your transactions to provide you with financial insights
• No Cards to Scan. Spend like normal, and we’ll track eligible purchases automatically
• More Ways to Win. From daily prizes to major draws, your purchases could win big rewards.
• Real 100% Cashback. Earn money back on everyday spending.
• Built on Trust. Your data is safe, your privacy is protected, and we’ll never sell your information.

The Future of Banking is Open—and Safe.

Open Banking is changing the way Australians interact with their finances, giving you more choice, more control, and more rewards. With Spendi, you can trust that your data is safe—and that it’s working for you, not against you.

Learn more by watching this 3 minute video explaining how CDR works here.

To find our more about open banking please visit www.cdr.gov.au.

Ready to see how it works?

Join Spendi today and start turning everyday spending into 100% cashback rewards, prizes, and savings—all while keeping your data safe, secure, and in your control.