Data-driven lending: How we verify affordability

How do we decide who gets a loan? We don't rely on guesswork or outdated credit scores.

We use Basiq, Australia’s leading Open Banking platform, to access real-time financial data from over 100 institutions. This allows us to paint a full, live picture of a borrower’s financial situation.

We use this rich data feed to protect lenders in three specific ways:

1. True Affordability Checks Instead of relying on self-reported information, Basiq allows us to view a borrower's real transaction history, income, and expenses. We conduct a comprehensive affordability analysis to ensure they have the actual cash flow to repay the loan before you ever fund them.

2. Reduced Failed Payments When a repayment is due, we use Basiq to verify that the borrower’s account is valid and has sufficient funds before we attempt the debit. This helps prevent failed payments and dishonour fees, ensuring more reliable cash flow for our lenders.

3. Ongoing Monitoring We don't just "set and forget." Basiq allows us to monitor changes in a borrower’s financial health during the life of the loan—such as detecting if income stops or balances drop critically low. This early warning system allows us to intervene before a small issue becomes a default.

Thanks to Basiq, we only approve loans that pass strict checks with real bank data, safeguarding your investment from day one. www.basiq.io

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