Digital lending guidelines
Regulation & taxThe Reserve Bank's framework for lending through digital applications, requiring the regulated lender to be identified, money to move directly between the borrower's and the lender's bank accounts, a key fact statement before signing, and need-based data collection only.
In plain terms
Four mechanical tests you can apply to an app in a minute. An app that will not name its lender, routes repayment elsewhere or wants your contact list is outside the framework.