Credfin helps financial service providers quickly create an easy to navigate picture of their customers' financial circumstances.
Credfin provides the technology that enables a client to securely deliver their financial data to a business in a format that allows them to efficiently offer the client their products and services.
Credfin is a technology platform that enables a client to control the access to their financial data, thereby reducing the stress associated with financial matters, as the client has the means to securely and efficiently transfer their financial data to a business instead of being beholden to the financial institution's archaic means of obtaining their data from them.
Businesses would require access to a client’s financial data if they are providing a financial product or service to the client. These businesses would include lenders, brokers and other financial entities where they are compelled by government regulations to ensure they are making reasonable enquiries into a client’s financial affairs to determine the suitability of their financial product or service they are offering to a client.
Credfin empowers a client to have control over their financial data instead of financial institutions who currently control the access to their financial data. A client can securely transfer their financial data to a business who they elect to have access to that data, thereby eliminating the need to manually obtain the bank statements from your financial institution, which saves you time and also the stress associated with the obtaining this required information. As the financial data is delivered to the business in a secure process, your privacy is ensured, as well as the data is delivered in a format which enables the business to efficiently process your application and thereby giving you a prompt response on the outcome.
When you engage with a business for a financial product or service, they would request access to your financial data as part of their application process, and thereby if you decide to grant permission to the business, we would then give you the means to securely transfer your financial data to the business.
Credfin understands the importance of privacy and security of handling a client’s financial data, therefore we employ the same level of encryption as a bank or similar financial institution for authentication, transmission and storage of your financial data. The business whom you have permitted access to your financial data, are only permitted a window of 48 hours to retrieve the financial data, before their access is revoked and your financial data is deleted from our servers.
There is no cost to the client as these are handled by the business who are using our products and services. Thus, as a client you have the benefit of a beautiful and secure user experience without the need to worry about the associated costs of the product or service.
Credfin is an independent company with no affiliations with banks or similar financial institutions, where our sole focus is on empowering the client with control over their own financial data, while delivering the products and services to enable a beautiful user experience and remove the associated stress involved with the financial application process.
Create powerful experiences with fast data aggregation and real-time, categorised consumer insights.
Retrieval of up to one year of transaction data which includes category and merchant information. We provide secure and reliable access to numerous financial institutions with selectable formats of delivery depending on your business needs.
Retrieval of the full name on the bank accounts along with other identifiable information which can be used to verify a client’s identity and reduce fraud, which complements a businesses’ KYC procedures.
Retrieval of the correct bank-state-branch (BSB) number and account number for a client’s bank account for seamless integration in the application process and thus removal of human error with regards to their manual entry.
Retrieval of an overview of the client’s financial assets which includes a summary of their account balances, historical transactions and account holder identify information. The transaction data includes category and merchant information along with the option of clean categorised transaction data.
Retrieval of real-time account balances which can be used before a payment initiation on a client’s account or alternatively to understand the reason behind a payment failure.
Credfin is a technology platform which is focused on the seamless integration with bank institutions for the delivery of financial data whilst delivering a beautiful customer experience, so your business can focus on your core products and services whilst delivering an industry leading service to your clients.
- Seamless product and services integration with your existing platform for an easy deployment.
- Bespoke categorisation and metrics data tailored to your business requirements.
- Enhanced encryption of client authentication details, along with the associated storage, transmission and retrieval of the client’s financial data, to ensure government compliance.
- Detailed financial insights such as income, expenditures and serviceability to assist with lending suitability determination.
- Real-time fraud detection and prevention and identification confirmation for KYC procedures.
The benefits of using Credfin are simple:
- A beautiful user experience, through the streamlined application process with the automatic prefilling of accurate user information and financial data retrieval.
- A cost-effective solution due to automation, fraud reduction, and better user experience therefore a reduction in customer complaints.
- The transaction data is provided in multiple formats to assist with your current business process as well as metric analysis for decision engine filtering, and lending suitability determination.
- Transaction data is retrieved directly from the bank institution within seconds, allowing the user to continue with the application thereby reducing the abandonment rate, fraud, and application time.
Credfin's sole focus is on empowering the client with control over their own financial data, while delivering the products and services to enable a beautiful user experience and remove the associated stress involved with the financial application process. We have solutions for automation of the application process as well as quick retrieval of financial data, thereby providing a quick and seamless application process for the client. We offer numerous products and services as well as bespoke solutions for a business’ requirements. Whether you are looking for a turn-key solution or a complex integration we have the tools to allow your business to take your overall client’s experience to the next level whilst you focus all your resources on your core products and services.
Credfin has focused on ease of use with implementing our solutions so your business can be up and running within a day or within a few days depending on your chosen implementation, thus your business will not need a complicated development roadmap for deploying our solutions. There are two options; an iFrame that is customisable and offers a turn-key setup where there are zero integration requirements, or we have an API that will allow for a deep integration with your existing application workflows or processes. Either method allows for backend integration to receive the applications; or you can receive them via email removing the need for any backend development.
Credfin provides coverage for 98% of the bank accounts in use in Australia with more bank institutions being continuously added. Businesses which require a bank institution which is not currently supported can contact us to request for the institution to be added in, with average development lead time of two weeks.
Credin provides access to up to 12 months of transaction data which contains category and merchant information. This includes support for credit card and loan accounts therefore gives you an entire overview of your client’s financial history.
Credin also connects to a range of different services to easily obtain a range of documents and information, such as MyGov to access a client’s Centrelink income statement. Businesses which require a custom solution can contact us to discuss your bespoke development requirements.
Yes, we encourage any business or developer to use our simple and powerful tool to test out our capabilities without the need to sign up for an account. Simply go to our homepage and use the “try now” button to go directly into our test environment.
Simply go to our homepage and use the “try now” and you can finish setting your business account in minutes and have a fully functional account that is ready to use.
Credfin has two different solutions depending on if you are looking for a simple or complex integration. An iFrame that is customisable and offers a turn-key setup where there are zero integration requirements, or we have an API that will allow for a deep integration with your existing application workflows or processes. Either method allows for backend integration to receive the applications or you can receive them via email removing the need for any backend development. We have full API documentation and Quick Start overview that can be accessed from the Docs at the top of the page. Our helpdesk will also be available to guide you through your integration.
If you want to find out more about pricing for your business or the cost for bespoke development requirements, please contact us through the Contact that can be accessed from the About Us at the top of the page. Our helpdesk will also be available to assist you with the pricing for your business.