Aussie start-up Biza.io delivers two-thirds of active energy data holders into the CDR
Biza.io, the Australian startup and market leader in Consumer Data Right (CDR) solutions, has announced that as of the November 1 2023 deadline for energy retailers to comply with the CDR standards, it now represents 67% of the active energy Data Holders in the CDR. This represents 12 out of the 18 brands in production, including AGL and Next Business Energy.
Otherwise known as Open Energy, the CDR requires energy retailers to share a consumer’s data with their explicit consent to an accredited service provider, including comparison sites, to help consumers access more tailored, competitive services.
The rollout of the CDR amongst Australian energy retailers marks the first time in the world that open data sharing for the energy industry has been achieved. In November 2022, Biza.io facilitated the world’s first transfer of open energy data via the Consumer Data Right. The milestone transfer was made in partnership with an Accredited Data Recipient (ADR).
Biza.io’s strength in the energy industry comes off the back of its success in banking. Biza.io represented 50% of active Data Holders as of the July 1 2021 deadline for all banks to comply with the CDR. To date, Biza.io has assisted in the delivery of 24 brands, which accounts for almost 20% of all active data holders in the CDR, with more than 19 million consumers having data-sharing access enabled by Biza technology.
Biza.io’s Founder and CEO Stuart Low (pictured) commented: “We’re proud to be the industry’s largest group of CDR experts, taking the stress out of the CDR for our customers.
“At a time when energy costs are rapidly rising and household budgets continue to be tightened, the rollout of Open Energy is particularly critical. Our work with Australian energy retailers plays an important role in helping consumers access more competitive rates by taking back control of their data.
“A sincere thank you to all of the project teams, technology partners and stakeholders who have contributed to 12 brands successfully entering the CDR by their respective deadlines, nine of which were delivered almost simultaneously. This was no mean feat.”
Saad Rafi, Executive General Manager of Retail Operations at Next Business Energy, said: “As a trusted partner to Next Business Energy, Biza.io has played a pivotal role in successfully implementing its CDR solution on 1 November 2023.
“The team at Biza.io were excellent in articulating complex CDR technical requirements, along with harmonising intricate compliance obligations to deliver a solution that is compliant and scalable for all future releases. From initialisation to project delivery, the Biza.io team has done an outstanding job in working collaboratively with key stakeholders in clearly defining the scope of work and ensuring key milestones and deadlines were met and delivered on time.”
Founded in 2018, the Brisbane-based Biza.io helps banks, financial institutions, energy retailers and data economy participants navigate the highly regulated CDR ecosystem and comply and innovate within the Australian data-sharing landscape. In August 2022, Biza.io announced it raised $7.5 million in a Series A funding round led by OIF Ventures and Jelix Ventures.