Australia's banking sector will come under review in a bid to work out the best way to set up an open banking regime.
The changes will give customers access to and control over their banking data.
Treasurer Scott Morrison says Scott Farrell, partner at King and Wood Mallesons, will lead the review.
Mr Farrell will give the Turnbull government advice on implementing the open banking system in Australia and his report is due by the end of 2017.
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