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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.
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.
“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.
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.
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.
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.
