The CDR aims to provide consumers with rights to direct a
business to transfer data on the consumer to a third party in a
useable, machine readable form as well as to provide product data
to facilitate an economy wide consumer directed data transfer
system and reduce barriers to change of suppliers, thereby
increasing consumer rights and competition.
The main aim is to allow consumers to switch service providers
and services (for example bank accounts or energy providers) in an
easy way without any of the friction cost involved to date. For
example, automatic bill paying and direct debiting arrangements
make it cumbersome for the average consumer to switch bank
accounts. That has led to a sticky customer relationship and
reduced competition and innovation.
