What are the PRDE and ACRDS?
The purpose of the Principles of Reciprocity & Data Exchange (PRDE) is to provide an industry wide reciprocal data exchange that supports Australia’s consumer credit reporting system; requiring Credit Providers to contribute the same type of information that they get out. Supporting the PRDE is the Australian Credit Reporting Data Standard (ARCDS) which is the set of standard reporting requirements, providing consistency for data contribution.
Together the PRDE and ACRDS ensure the integrity of the credit reporting system, serving the common interests of all users regardless of their size or nature of credit business.
The PRDE and the ACRDS were developed in 2014 by Arca through extensive consultation with the credit industry.
The key PRDE paragraphs were authorised by the Australian Competition and Consumer Commission (ACCC) in 2015 and again in 2020 for a further 6 years.
The Reciprocity & Data Exchange Administrator (RDEA), a subsidiary of Arca, is responsible for the ongoing operation of the PRDE and ACRDS, including its compliance framework, and works closely with PRDE signatories and other key stakeholders to shape future changes.
How to become a PRDE signatory
To become a PRDE signatory, follow these three steps below:
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Contact us through our online form to request a PRDE introductory pack; the pack includes PRDE registration documents as well as useful information on becoming a PRDE signatory.
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Fill in the registration form; the PRDE team are available to arrange a meeting to assist with this.
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Execute the Deed Poll; the RDEA will provide confirmation once your organisation is successfully registered as a PRDE signatory.