Ping Identity unveils new CDR sandbox

Originally posted on Australian Banking and Finance

Ping Identity has launched a Consumer Data Right (CDR) sandbox which will allow banks and fintech companies to test their compliance efforts.

Under [the] sandbox, financial service companies will be able to initiate compliance under the CDR which is set to hit July 1.

Tier two banks and smaller firms have been granted an extension until July 2021 given pressure added from COVID-19.

APAC chief technology officer at Ping identity and member of the Data Standards Body, Mark Perry said Tier 1 and Tier 2 banks are eligible to use the Ping Identity sandbox right now. “However, the big four banks must be in production by July 1 2020 and have already settled on their technology months ago.

“They have been involved in industry testing since January this year.”

Perry added many Tier 2 banks are still making their technology decisions for a July 1 2021 go-live date, and the Ping Identity sandbox gives them a headstart on that process.

Perry said it remains to be seen if the Ping Identity sandbox will become a de facto industry standard.

“Data61 has not provided a sandbox with similar capabilities for financial services participants, and Ping Identity is pleased to be able to fill this gap,” said Perry.

The sandbox will offer users the chance to focus on their core business leaving the complex InfoSec and user consent requirements to Ping Identity, said Perry

“The CDR continues to evolve, and Ping Identity will continue to update the sandbox accordingly.

“As an additional benefit, it is also a flexible platform for future digital transformation that can be used for other identity security projects across the enterprise.”

Perry also clarified that the Ping Identity CDR sandbox is an environment for testing and development enablement while the ACCC accreditation is a different process to CDR compliance.