Helping make financial processes frictionless.
Fast, flexible, powerful. Open Data Solutions is built and optimised to position illion at the forefront of Open Banking in our region.
Leveraging Open Data Solution’s suite of products, businesses can achieve fast, secure and extensive data to aid in lending and verification processes.
Independently tested and audited by external security experts, security is a driving priority. Data is encrypted with bank-level 256-bit encryption, secured by 2048-bit keys.
Using Open Data Solution’s proprietary technology retrieves data from over 140 banks and credit unions in Australia, with a further 20 institutions in New Zealand. Data can also be retrieved from loyalty platforms, share trading accounts and more than 35 superannuation providers. Meaning more data can be retrieved and more documents from more sources.
With a purpose built proprietary categorisation engine for analysis of financial data, businesses can simplify the process of income and expense verification using industry leading algorithms.
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. Our technology is used by thousands of lenders and brokers in New Zealand and Australia.
The secure, incredibly easy way to retrieve bank statement data in seconds. Make your application process frictionless with automated bank statement retrieval. Our customer authorised service provides analysed statements and transaction data to you for quick, confident credit decisions.
StatementOCR delivers our cutting-edge categorisation and analysis of bank data through a simple PDF upload. It offers a frictionless web-based solution to detect fraudulent PDF statements and delivers bank data analysis and metrics for faster, smarter credit decisions.
Identify helps protect your business from the growing risk of customer, invoice and supplier fraud. Available across New Zealand and Australia, Identify is a fast, web-based, process for qualifying a customer or supplier’s identity. It enables you to fast track onboarding and account changes while preventing damaging exposure to fraud.
Analytics and Categorisation
Used to assess the risk, liquidity and serviceability of your customers. They put the data you need at your fingertips for smart lending decisions, driving your business further, faster. Our client-driven Decision Metrics and pattern analysis utilises categorised transaction data to provide you with a tailored view of account holder information.
illion’s Categorisation-as-a-Service provides superior transaction categorisation to enrich your institution’s core banking transactions while delivering intelligent analytical insights. Being armed with these valuable insights enables more accurate credit risk decisioning, hardship identification and management, and provides value-added spend insights in online banking.
illion Transaction Risk Score
The illion Transaction Risk Score (iTRS) allows illion’s customers to improve their credit management with more informed underwriting and pricing. Leveraging illion’s BankStatements capability, iTRS provides powerful new insights into applicants’ financial behaviour.
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