Basiq Blog

Preview: Basiq Identity

Basiq is excited to announce that our Basiq Identity is in beta release. It will allow our customers to validate an applicant’s identity via their banking platform and prevent practices like “piggybacking.”

responsible lending

RG209 Update: Patterns not Payslips

ASIC has just released an update to the Responsible Lending Guidance (RG209). A key takeaway from the updates is the increasing obligation on technology to determine credit decisions.

Basiq in the news

UBank adopts Basiq's AI-powered tools to help Millennials budget

Basiq has partnered with UBank to help over half a million consumers predict spending and better manage their finances via the Free2Spend app.

New Release

Where we are with CDR (Consumer Data Right)

The ACCC has deferred the launch of CDR to July 2020. In light of this, it's useful to take a look at current CDR legislation. To help you get a better understanding of the issues at play, we’ve detailed three areas of interest.

Basiq in the news

Salesforce, NAB And Reinventure Back Open Banking Platform Basiq

Open banking start-up Basiq has concluded its Series A funding, securing investment from Salesforce Ventures, NAB Ventures and Westpac’s Reinventure.

case study

How GooodPay makes it easier to support the causes that matter

Basiq is partnering with fintech company GooodPay to make it easier than ever to support the causes that matter. With access to bank transaction data from Basiq, GooodPay aims to help more customers become givers by allowing users to give smaller amounts, more frequently, via a rewards system.

case study

Empowering millennials to take charge of their money

Basiq is excited to announce that we have partnered with Fu, a platform that empowers millennials to live large and take charge of their financial well-being. Fu provides a set of simple tools that allow users to manage, spend and invest - all in one place.

New Release

Basiq closes Series A funding round | Basiq

Basiq, a leading fintech providing access and insights into financial data, has concluded its Series A funding round with investments from NAB Ventures, Salesforce Ventures and Westpac’s Reinventure.

product news

Upload your own bank data for credit decisions

It is now easier than ever to generate Basiq’s Affordability report using your own customer bank data. Simply export your data in CSV format and upload it through Basiq’s user friendly dashboard!

Basiq in the news

Salesforce makes an open banking move

US technology giant Salesforce is .... investing alongside Westpac Banking Corp and National Australia Bank in open banking platform Basiq, which could provide users of its software with a more comprehensive view of customers' financial position.

affordability report

Rethink lending with Basiq Affordability

By partnering with Basiq to leverage Open Banking data, it is possible for lenders to increase the speed to approval as well as the likelihood of approval for more Australians.

Basiq in the news

The 4th Annual Australian FinTech Awards finalists have been announced

Basiq is excited to announce that we have been nominated as finalists in the 4th Annual Fintech Awards for our partnership with Regional Australia Bank.

affordability report

Make lending decisions more quickly with Basiq's income calculation

Recent updates to ASIC’s guidelines around responsible lending highlight the importance of income verification. Basiq's Affordability report leverages actual bank transaction data to help lenders accurately verify income.

product news

Announcing customer self-service via 'Basiq Connect'

Introducing 'Basiq Connect' - a customer portal which allows applicants to securely connect to their bank so lenders can generate an affordability report - no development required. ‌‌ ‌‌

New Release

The changing face of financial advice

Financial advisers are under more pressure than ever to offer personalised advice at lower costs. Open banking platform Basiq and CRM software provider AdviserLogic have partnered to solve this issue and improve the way financial advice is given.

basiq affordability

Gain a full view of customer expenses with Basiq

With responsible lending in the spotlight it can be difficult for lenders to keep up. Basiq helps lenders improve the accuracy of their assessments and processing time by providing them with access to verified expenses.

Basiq in the news

Big banks stalling payments platform, say fintechs

"One way to look at it is if you're applying for a home loan, it will be much easier. A lender will be able to assess your risk profile based on your data and be able to get a better deal for you if you're in the lower tiers," Basiq CEO and founder Damir Cuca in the AFR.

product news

Announcing Bank Statements Upload Dashboard

Basiq’s Bank Statement Upload feature is now ready for use. Lenders can upload bank statements on a customer's behalf to generate a report on their financial position in two seconds.

affordability report

Specify your own living expense categories with Basiq’s Affordability Report

Lenders have different requirements when it comes to living expense categories. Basiq categorisation provides a granular level of detail from up to 700 categories with 95% accuracy. This means we can provide custom categorisation for a wide range of uses cases and data standards.

Basiq in the news

Meet this year’s Finnies finalists

The Finnies are the biggest Fintech awards in Australia and Basiq are proud to announce that we're a finalist for 2019 Fintech Organisation of the year.

case study

Turn pocket change into special purchases with Sipora

Basiq is excited to announce our partnership with Sipora, an innovative new app that helps you turn pocket change into savings for ‘that special purchase.’

affordability report

Basiq Affordability ... with a makeover!

The Basiq Affordability report has undergone a makeover! Our upgraded report makes it even easier for assessors to gain a full view of an applicant’s financial position at a glance.

banking royal commission

How do lenders determine affordability for customers with more than one bank?

The Australian Banking Association estimates that almost two-thirds of Australians have accounts with more than one bank. How can lenders gain a full picture of their customer's financial health across all financial institutions?

basiq affordability

Coming Soon: Basiq’s new Bank Statements upload feature

We are excited to announce that Basiq's new Bank Statements Upload feature will soon be available! This will make it easier than ever for customers to securely provide access to all their accounts across multiple financial institutions for a comprehensive view of their financial health.

open banking

The Banking Royal Commission's final report: How Basiq can help

With the release of the banking royal commission's final report, it is clear that responsible lending remains a key concern within the financial services industry. Basiq's Affordability API can ensure that lenders are carrying out efficient and responsible lending based on high-quality data.

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