To remain time efficient they need the bank statements in a standardised format every time. Prior to implementing illion’s solution, they relied on the customer to manually download their bank statements and submit them to Savvy. You’ll also be sent a statement if there’s an important change. Secure account data . Please fill in a valid value for all required fields illion BankStatements is the secure, incredibly easy way to retrieve customer bank statement data in seconds. illion BankStatements is a multi-award-winning technology that provides a lighting fast, frictionless web-based solution for the retrieval of bank statement data, boosting conversion rates for … I applied for a CC and was told by my bank I had a default and to contact Illion. Enter the fields below to get started with your free credit report and score. The lender is provided with a unique digital BankStatements link, Lenders provide their link to the customer via SMS, email or the BankStatements website, Customer follows the link and completes a short information entry process approving the sharing of bank statement data, BankStatements supplies lenders with bank statement data to their nominated email or URL in the lender’s choice of format. BankStatements powered by ILLION will be available to all clients that have an active subscription for the BGL Bank Data Service. You’ll be sent a statement for your personal loan twice a year, in January and July. Our technology is used by thousands of lenders and brokers in Australia and New Zealand. BankStatements has proved to be a secure and streamlined solution that increases customer satisfaction and sense of security.”. Lend decided this process was best executed using a third party. BankStatements.com.au takes your data security seriously: your online banking credentials are never stored, and your data is encrypted with bank level 256-bit encryption. “illion has been … “illion’s BankStatements platform has reduced waiting times dramatically. ABN 95006399677 Below is a detailed list of the banks and the accounts which are available through BankStatements Powered by Illion - For further information about this service, please see BankStatements Powered by ILLION.. illion Open Data Solutions P +61 8 7122 9452. illion Tenancy P 0800 TENANT (0800 836268) www.illiontenancy.co.nz. illion's market-leading BankStatements technology provides a lighting fast, frictionless web-based solution for the retrieval of bank statement data, that boosts conversion rates for lenders and brokers. They make integrations seamless by having product engineers who are ready and willing to help. They are securely discarded once they have been encrypted and passed to the bank. illion BankStatements is a simplified and efficient way of bank statement retrieval. The solution has increased our throughput for loan applications and approvals by 30%. Go to Settings -> Custom Document Click on "Create New"; enter name, category and description (optional) illion BankStatements is a simplified and efficient way of bank statement retrieval. Contact us today. They request at least three months of bank statements as supporting evidence of income; which can include mortgage, credit cards and loans statements as well. With varying technological skill levels in the community, this extended approval times for days or even weeks.”. “illion’s BankStatements platform has reduced waiting times dramatically. The Multi-Bank version provides brokers with a Multi-Bank report with each bank statement retrieval. The acquisition follows illion’s purchase of Adelaide-based fintech Proviso, which creates automated bank statements, late last year. illion Open Data Solutions P +61 8 7122 9452. illion Tenancy P 0800 TENANT (0800 836268) www.illiontenancy.co.nz. Make your customer loan application process frictionless… Through integrating BankStatements with Savvy’s loan application portal, customers can instantly submit their bank statements for the requisite three, six, or nine months without using any third-party site or service, substantially increasing throughput and speeding up approvals. illion Digital Tech Solutions P +64 7 838 0705 www.illiondts.com. The customer journey is minimised to four simple steps which have been designed with a frictionless user experience in mind. Contact us today. Ways to check and download your online statements in the CommBank app and NetBank. BankStatements.com.au is a trusted financial data platform used by many of Australia’s largest financial institutions to retrieve customer bank statements in a safe and efficient manner. Specify whether you want to receive your Statements also to your email address; statements will be submitted to the email address that you have provided to illion; Click on "Save Settings" 4: Create a bank statements document. if you would like more information about your subscription to Simple Fund 360 please contact your Account Manager on 1300 654 401. The customer journey is minimised to four simple steps which have been designed with a frictionless user experience in mind. illion Express Enquiries: 0800 733 707 For media use only: publicrelations@illion.com.au. In order for Lend to do this, they need access to the business owners bank statements. Reddit is a network of communities based on people's interests. Find communities you're interested in, and become part of an online community! The Multi-Bank report consolidates the income and expense analyses from multiple banks into a single report, aggregating and categorising the data to give you a single view of your client's financial standing. The journey can be completed on laptops and mobiles quickly and easily, giving consumers the power to remotely grant access to bank statement to their chosen lender or broker. On this page. Your data is encrypted using industry best practices. illion BankStatements has decreased the usual loan processing delay caused by waiting for applicants to provide supporting documentation, as well as eliminated any manual handling for the customer. As part of their onboarding process Lend need to reverse engineer a business’ profit and loss statements. “Not only has BankStatements significantly reduced the time spent, but obviously it has also improved the accuracy of our decision makers. Want to learn more about financial technology and how we can help your business? “This was a major bottleneck in Savvy’s online application process – an over-reliance on manual document handling, either digitally or with paper. “Having worked with Luke and the team previously, I knew there was only one choice for us to partner with. Independently tested and audited by external security experts, security is a driving priority. Name * First Name * Last Name * Organisation * Email * Phone * Organisation Type * Who is your Aggregator? Privacy Policy; Terms of Use; Security; LinkedIn © Copyright illion Australia Pty Ltd is the owner of illion BankStatements. After you sign up, you will see your score and details of your credit report so you have a better understanding of how financial institutions and other credit providers see you. illion TenderLink P 1800 233 533 www.illion.tenderlink.com After looking through my credit file it had me living in Victoria as a plumber, with an additional mortgage , credit cards and a different employer. Save my name, email, and website in this browser for the next time I comment. Savvy uses a secure, encrypted loan application portal to facilitate the loan assessment process. illion BankStatements provided the solution to Lend’s needs. Your bank details are encrypted in transit and stored securely. To see available financial statements select the appropriate filter on the document search screen. You firstly select your bank from a drop down list, and then enter your online Banking details so your bank statements can be securely retrieved. Due to the process relying on applicants and each bank’s separate statement extraction procedures it became crucial that Lend find a solution which would standardise and streamline this problem. They will ask applicants about their current income, assets, liabilities, and other expenses as an estimate to determine eligibility for the amount requested. illion Express provides real time access to company information from the Australian Securities & Investments Commission (ASIC). Through integrating BankStatements with Savvy’s loan application portal, customers can instantly submit their bank statements for the requisite three, six, or nine months without using any third-party site or service, substantially increasing throughput and speeding up approvals. The CDR framework will provide substantial benefit to financial services consumers, transforming the way they interact with the banking system by providing the ability and tools to safely share data with different lenders, other financial institutions and fintech companies. The solution has created an effortless path toward completing an application and gaining approval. illion is a strong supporter of the implementation of a Consumer Data Right (CDR) in Australia. Savvy was looking for a way to speed up the document verification process and reduce manual handling on behalf of the customer. If you are applying for a loan through your lender or broker and you need to submit your bank statements, please contact your lender or broker directly and request the submission link. BankStatements is a simplified, frictionless solution for customers to make their bank statement data available to lenders using their mobile phone or laptop. illion BankStatements is a secure, read-only web-based service that retrieves an applicant’s bank statements from a multitude of institutions and sends the official documents and responsible lending report directly to Bank Australia within seconds, removing any risk of fraud. For any other queries or if you need assistance to log in, please email clientservices@illion.co.nz or phone 0800 733 … Yes, if you use our bank statement service provided by Illion you will input your internet banking details which will allow us read-only access of your bank account. If you are applying for a loan through your lender or broker and you need to submit your bank statements, please contact your lender or broker directly and request the submission link. The default was from a company I’d never heard of, momentum energy. After integrating illion BankStatements into their statement retrieval process, Lend has significantly cut the onboarding time. As part of their responsible lending requirements, Savvy conducts checks on applicant credit scores and histories. They are constantly working and developing their product, making it bigger and better by listening to those who use it and then helping us understand how to get the most out of it.” Shaun McGowan, Co-Founder, Lend. illion Express credit reporting service offers you instant access to a range of reports for low, medium and high risk business decisions. Please Note: The number of days of historical data provided by each bank is subject to change, but this Help Article will be regularly updated to ensure that it is up to … Want to learn more about illion BankStatements and how we can help your business embrace Open Banking? illion Express Enquiries: 13 23 33. illion Digital Tech Solutions www.illiondts.com. During both online forms, there is a section called “Bank Statements” where we provide our secure online service. We do not have the ability to change any of your banking details, set up direct debits or to manage your account in any other way. It’s great to be working with a company where you can simply pick up the phone and get someone first time, every time.” Shaun McGowan, Co-Founder, Lend. For application specific support, login via the links above. An expert team who are able to invest their resources into focusing on the solution. Gathering and submitting supporting documentation as part of the loan application process was one of Savvy’s major bottlenecks for providing fast finance solutions. I looked into it and they don’t even provide electricity in my state! A brief demonstration of how BankStatements makes a Broker's life a little easier. A demonstration of how BankStatements makes a Broker's life a little easier. Lend is in the small business loan market and therefore needs to match the right lender to each prospective client business. Some customers who were not comfortable with using Internet Banking experienced considerable delays as they approached their local bank branch to obtain the statements and lodge them to Savvy through the mail. Accessing your credit score and credit report through illion Credit Check will not affect your credit score. Leveraging Open Data Solution’s suite of products, businesses can achieve fast, secure and extensive data to aid in lending and verification processes. By using BankStatements Lend were able to assess a deal in less than 15 minutes compared to the industry standard of 2-3 hours. Open Data Solutions is built and optimised to position illion at the forefront of Open Banking in our region. 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