What the API does, and doesn't do

What the Basiq API can do for you

 

✅ Account verification

Instantly verify account ownership and balances in real time to improve the user experience and mitigate fraud and risk. Use this to automate responsible lending, reduce dishonour fees for payments and improve collections.

Learn how Archa uses Basiq for real time account verification and faster onboarding.

✅ Data aggregation for single view of customer finances

Access and aggregate all your customers financial data in one place to get a single view of customer finances. Use this to build or add PFM (Personal Financial Management) functionality and provide more tailored product offerings and recommendations.

You can see how Pocketbook is using our platform to help more Australians save smart and spend smarter here.

✅ Provide ongoing access to customer data

Secure ongoing access to reliable account, transaction and identity data from +100 institutions in real-time to deliver more engaging and personalised experiences

Read about how Fupay leveraged our data aggregation and ongoing access to provide money management.

✅ Data enrichment to understand spend behaviour

Gain greater insight into customer transactions with powerful overlay services across expense classification, merchant identification, merchant location and merchant logos. Ongoing access to enriched data lets you build next-generation financial planning and wealth management solutions.

See how UBank has helped over half a million consumers predict spending and better manage their finances using Basiq.

✅ Powerful insights for deep financial analysis

Get a better understanding of your customer's financials by identifying income sources, expenses, assets and liabilities, and generate comprehensive, bank agnostic affordability reports for a complete picture of their financial position at any given point in time

See how Regional Australia Bank used Basiq's affordability API to solve the responsible lending problem.

What the Basiq API can't do for you

 

❌ We don't provide write access

Basiq has read only access only, meaning we can not update or create any data when a customer provides their credentials.

❌ We don't provide event notifications (...yet)

Watch this space... Although we do not currently do not offer any Webhook style support, we are currently working on an action initiation feature, which will enable you to subscribe to changes in data.

❌ We don't expose customer credit card numbers

Credit card numbers are always masked to maintain PCI compliance.

❌ We don't share your data

We take data privacy very seriously and we do not hold onto or share any of your data without your consent.


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