It is now easier than ever to generate Basiq’s Affordability report using your own customer bank data!

Oftentimes, the majority of customers applying for loans are existing bank customers. Why not take advantage of the customer data you already own?

By simply exporting your own transaction data in CSV format and uploading it through Basiq’s user friendly dashboard it is possible to generate an Affordability report. This means you can effortlessly take advantage of Basiq’s best-in-class expense categorisation and income verification.

The Affordability report is a key offering of the Basiq platform and provides a full view of customer finances at a glance, taking into account assets, liabilities, income and expenses.

With the Affordability report it is possible to:

  • build an applicant profile in under two minutes;
  • identify red flags which will require further investigation and subsequently;
  • drill down further to gain a more in-depth understanding of customers.

The CSV upload function is ideal in cases where banks want to do more with the data from their core banking systems. The development effort required to do this can prevent smaller banks from making the most of their customer’s data. Basiq’s user-friendly dashboard solves this issue by making it easy to drag and drop CSV files to generate an Affordability report on the spot - no development required!

Additionally, banks that are getting ready for open banking will want to start using other bank data to assist with credit decisions. Basiq’s Connect and PDF Bank statement upload capabilities enable a full financial picture of a customer across all of their banks.

Once you have successfully generated an Affordability report, the use cases are vast. Whether it be onboarding customers more quickly or making faster, more accurate lending decisions.

The Affordability report is currently being used to save Regional Australia Bank an estimated 2315 hours across their personal loan and credit card applications.


To learn more about bringing your own data check out our how-to guide or alternatively contact hello@basiq.io