USE CASE

Collections

The focus of financial services is shifting toward the customer experience and the intimacy in which a financial services provider can engage with their customers. The Basiq APIs support the elimination or reduction of key existing challenges in the collections industry such as dishonours, default or bankruptcy, whilst enhancing the customer experience with new product features.

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Challenge

The ability to continually add value at scale post loan origination, is a true differentiator between emerging fintech lenders in the market. With an incumbent landscape that hasn’t been in the interest of the customer, the expectation is shifting towards how financial service providers can more intimately engage with their customers but maintain a promise to pay.

Solution

Basiq’s Connect, Enrich and Affordability API’s, supports the lending and collections industry through providing access to ongoing customer consented data in addition to access to our payments partner ecosystem. Reducing the time to verify customer account details, streamline settlements faster, eliminate missed repayments through pre-fund checks and more.

Discover more benefits & insights

Explore the benefits of using customer consented financial data across the collections landscape with Basiq.

  • Decrease the time to approval, expedite customer account onboarding and verification
  • Streamline settlements, ease the deposit of funds and progression of the lending cycle
  • Know your customer with a full 360 view of their financial profile
  • Conduct affordability projections and more!

Industry Leading Products

Some of the most innovative fintechs in the world utilise the Basiq platform to provide market leading solutions.

Access account and transaction
data in real-time

Connect

Get real-time access to account details, balances and transactions from financial institutions.

Gain deep insight of your
customer’s finances

Affordability

Get a better understanding of your customer’s financials by identifying income sources, expenses, assets and liabilities.

Enhance transactions with
merchant data

Enrich

Get rich insights by identifying the merchant, expense category and location of each bank transaction.

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