USE CASE

Lending

Innovative lenders are embracing consumer financial data to improve approval times, increase conversion rates and provide a seamless customer experience. Leverage the Basiq platform to perform account verifications to streamline onboarding, ease the deposit of funds and progression of the lending cycle with swift transitions from origination to lending and collections and more!

Check out the FREE use case info sheet below to discover more.

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Challenge

Traditional expenditure calculation methods lack full transparency due to their manual nature. The time to verify customers and move them through the lending cycle in addition to the lack of visibility of a customers financial position was inhibiting growth opportunities for RAB and causing friction in the lending experience for customers

Solution

By using Basiq’s affordability API, in addition to using tradition methods RAB can access real-time transaction data, which has removed the need to verify income and expenses using manual payslips and bank statements, saving 2315 hours across personal loans and credit card applications. Allowing RABs lending specialists to focus on value-add conversations and their customers having a more seamless loan application experience

What our customers are saying

Regional Australia Bank

Campbell Nicoll, Chief Risk Officer

It is still early days but we anticipate this enhanced capability, and the higher-quality conversations we are able to have with our customers. As a result, it will improve overall assessment accuracy, reducing bad debt and contributing to bottom line savings in the order of tens of thousands of dollars annually

Read the full story

Discover more benefits & insights

Explore the benefits of using customer consented financial data across the lending 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.

Ready to get started?

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