Overview
The Consumer Data Right (CDR) provides you with a secure way to share certain data held about you by banks and other financial institutions (CDR Data) with other service providers with your full knowledge and consent. You control who holds your CDR Data and how it is used. The intention is to help you find the best products and pricing and make it easier to switch to new service providers.
Basiq is an Accredited Data Recipient under the CDR framework. This means that Basiq has been accredited by the Australian Competition and Consumer Commission (ACCC) to receive your data from your bank or other financial institution – only after you have given your consent. Basiq has partnered with various Basiq approved partners (Partners) who, with your consent, may request Basiq to collect and provide them with your data to enable them to provide their services and/or products to you. Basiq’s Partners can only use or disclose your data in accordance with your instructions.
Basiq is subject to strict controls under applicable CDR legislation and privacy laws. This policy (CDR Policy) explains when and how Basiq and Partners collect, use, hold and / or disclose your CDR Data in accordance with the consent you provide. This CDR Policy also explains how you can manage your CDR Data and associated consents, resolve concerns and lodge complaints.
Please refer to the Privacy Policy on our website for information on our management of your personal information.
Basiq’s Partners include:
Entities that Basiq partners with, who have restricted accreditation under the CDR framework (CDR Affiliate). Basiq’s CDR Affiliates are set out in Annexure 1 of this CDR Policy.
Entities that Basiq partners with who are not accredited under the CDR framework (CDR Representatives). Basiq’s CDR Representatives are listed in Annexure 2 of this CDR Policy.
Basiq also uses one or more third parties to undertake functions on its behalf under the CDR Framework (Outsourced Service Provider or OSP). Basiq’s Outsourced Service Providers are listed in Annexure 3 of this CDR Policy.
What details you can share with us
You can share the following CDR Data with us:
Account Details
product category, account type and product name (e.g. transaction accounts, savings accounts, term deposits, overdrafts and business finance and mortgage accounts)
BSB and account number / masked number
account nickname
account status
account holder / display name
account owner (true / false)
account meta data (e.g. credit cards, term deposits, loans)
interest rates
fees
discounts
Balance Details
current balance
available funds
Transaction Details
status (pending / posted)
incoming & outgoing transactions
amounts
dates
descriptions of transactions
account names for accounts you have sent money to and received money from
Name, occupation and contact details
name
occupation
phone
email address
mail address
residential address
Organisation profile and contact details
agent name and role
organisation name
organisation numbers (ABN or ACN)
charity status
establishment date
industry
organisation type
country of registration
organisation address
mail address
phone number
Direct debits and scheduled payment details
direct debit authorisations
scheduled, outgoing payments
Payee details
names and details of saved payee accounts
You are in control of your CDR Data
How we collect your CDR Data
When you request a service from a Partner and provide your consent, Basiq facilitates the provision of that service by the Partner. Basiq collects your CDR Data for this purpose directly from your bank or other financial institution via an application programming interface (API).
The kinds of services that will involve the collection of your CDR Data (with your consent) include:
Data Aggregation and Enrichment: your CDR Data is aggregated, enriched and demystified to provide a single view of your finances across each of your banks.
Spending Insights: your CDR Data is analysed to provide insights into spending, including the category of spend.
Income Insights: your CDR Data is analysed to identify your income streams including surfacing patterns around regularity and stability.
Affordability Report: insights above are presented in an easy to read PDF report.
When we can share your CDR Data
When you request a service from a Partner and provide your consent, Basiq will support the provision of that service and share your CDR Data with the Partner as reasonably necessary for that purpose.
When we share your CDR data with Partners, they are required to operate in accordance with CDR controls and privacy protections.
What we do with your CDR Data
With your consent, Basiq and its Partners will use your CDR Data for the purpose agreed, including to provide data enrichment, spending, income and affordability insights, and will hold your CDR Data for the period covered by the consent you have provided.
Basiq will ensure, and will procure that its Partners will ensure, the following:
Your CDR Data will not be disclosed to any third party without your consent.
Your CDR Data will be deleted or de-identified in accordance with your instructions once your consent expires or is withdrawn by you, except to the extent we are required under Australian Law to retain certain data.
You may withdraw or modify your consent at any time.
Managing your consent
You are able to review, modify or withdraw any CDR consent you have provided through the relevant Partner application. You can also withdraw your consent by contacting us in writing, or via the data holder consent dashboard (provided by your bank or other financial institution).
Manage your consent to share your CDR Data
You can review and manage your CDR consents at any time.
Stop sharing
You can withdraw your consent at any time through the Partner application and we will stop collecting, using or disclosing your CDR Data for the agreed purpose.
CDR Data deletion or de-identification
Basiq must adhere, and must procure that its Partners adhere, to the data minimisation principle. This principle outlines that a Partner can only ask you for CDR Data that is necessary for the agreed purpose and can only hold it for the minimum amount of time needed to provide their service.
Once your consent expires, or you want to stop sharing your CDR Data and withdraw your consent, then we will delete your CDR Data in accordance with your instructions except to the extent we are required under Australian Law to retain certain data.
When you withdraw CDR consent or your consent expires, we’ll automatically, irretrievably destroy or de-identify your CDR Data in accordance with your instructions, within seconds. We’ll also automatically notify any Partner with whom your data has been shared and require them to irretrievably destroy or de-identify your CDR Data as well.
De-identified CDR Data
If you elect to have your CDR Data de-identified once it is no longer required for the agreed purpose, Basiq may de-identify CDR Data by removing all personal identifying information fields from the CDR Data and only storing the remaining fields.
Once CDR data is fully de-identified, Basiq may use de-identified data for internal operational purposes (ie. to improve the quality of Basiq’s services), as well as to provide feedback to data holders in respect of data and services quality.
Basiq does not disclose de-identified CDR Data to any third parties.
Security of your data
Basiq’s approach to data security is designed to protect you as a consumer. The Basiq CDR platform is built and maintained to follow best practices to keep CDR Data you share with us secure. Basiq is responsible for the CDR platform and is regularly investing in, and improving, its data security framework.
Secure Environment
The Basiq physical infrastructure is hosted and managed in an ISO 27001, SOC 1 & SOC 2, PCI Level 1, FISMA Moderate and SOX certified data centre.
Multi-factor authentication
Two-factor authentication and strong password controls are required for administrative access to systems.
Restricted network access
Firewalls are utilised to restrict access to systems from external networks and between systems internally.
Data encryption
Basiq stores data at rest using 256-bit AES encryption and use an SSL/TLS secure tunnel to transfer data between your app and our API.
Secure development practises
Basiq development follows industry-standard secure coding guidelines, such as those recommended by OWASP.
Realtime monitoring
Basiq conducts behavioural monitoring, vulnerability assessment, SIEM and intrusion detection to detect threats and keep our system safe and secure.
What happens if there is a security breach
Basiq maintains a Data Breach Response Plan - Basiq can provide a copy of this policy on request.
If a security breach occurs we:
Contain the data breach to prevent any further leak of personal information.
Assess the data breach by gathering the facts. Then check the risks or potential harm to affected members and take action to reduce any risk of harm.
Review the incident and consider what actions we can take to prevent future breaches.
Storage of CDR Data
Basiq stores data securely in AWS data centres in Sydney and Melbourne.
Basiq has granted permission to two CDR Representatives to store CDR Data overseas in New Zealand and the United Kingdom.
Basiq’s Partners do not otherwise store CDR Data outside Australia and its external territories.
Overseas Disclosure of CDR Data
Basiq has one New Zealand-based outsourced service provider. Otherwise all other outsourced service providers are based in Australia.
Complaints
If you are unhappy with any aspect of Basiq service let us know. The fastest way to resolution is to talk it through. Our internal dispute resolution process is easy to access and if free of charge.
The Complaints Policy explains how to get in touch with Basiq, the investigation process and remedies available to resolve complaints.
Sponsorship Arrangements
Basiq is currently Sponsoring the following current and pending Affiliate accredited persons:
Affiliate Name
| Nature of services Basiq provides to Affiliate |
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* Affiliate is currently a Representative of Basiq in the CDR Regime to allow it to develop their solution while their CDR accreditation application is being completed and considered.
Representative Arrangements
Basiq is currently Represented in the CDR Regime by the following entities:
Representative Name | Nature of the goods and services provided to customers using CDR data |
2PAY Pty Ltd | Split payment distribution platform for professionals. |
Access Software Australia Pty Ltd | The Access Group offers leading business management solutions with integrated financial data via open banking for its accounting and financial solutions. |
Accountability Access Pty Ltd | Accountability is an independent software vendor headquartered in Australia with an office in New York. It develops, implements and supports an online project management and accounting platform for marketing and advertising agencies, with customers across 30 countries.
The platform includes two functions that will utilise CDR data: (1) Bank reconciliation function, which allows the user to reconcile the bank account ledger in Accountability to the statement/transaction data received via CDR; (2) a management function, which allows users to code credit card expense data received by CDR and post to the Accountability ledger.
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Afterpay Australia Pty Ltd | Afterpay Australia Pty Ltd to support Afterpay's onboarding processes. |
Australian Military Bank Limited | We’ve been helping Australian Defence personnel, and their families make the most of their money since 1959. We’re dedicated to helping the men and women who protect and serve our community offering customised products, lower fees and competitive interest rates to integrate your service with your financial wellbeing. As a mutual organisation, Australian Military Bank is run for the benefit of our members who are also our shareholders. This means we’ll always put you first.
Australian Military Bank provides a complete range of financial services to its members, these include deposit accounts, personal loans and home loans. |
Bamboo 61 Pty Ltd | Bamboo is a Crypto micro investing app that enables users to round up their spare change and invest in digital assets. Bamboo will look to use CDR data for calculating round up investment amounts, as well as checking balances in funding accounts for more efficient investing. |
Beforepay Ops Pty Ltd (T/A Beforepay) | Beforepay is an app that allows its customers to access their wages outside the traditional pay cycles, enabling them to take better control in managing their own money by also allowing them to track spending habits and learn how to budget. Beforepay will use Basiq’s connectivity and enrichment capabilities to enhance their product offering for their customers. |
Betashares Holdings Pty Ltd | Betashares requires investors to provide their bank details to both apply and redeem the investments held in the fund. We will use CDR data to verify their banking details. |
BlossomApp Pty Ltd | Blossom is a savings app targeting a 3.5% p.a. return. The Blossom app provides access to the Blossom Fund, which is a diversified portfolio of fixed income investments. Blossom is democratising fixed income by removing restrictions like sign-up fees, high minimum investment amounts, and long lock-up periods.
Blossom helps everyday Aussies build and foster healthy savings habits. Through the Blossom app, CDR data will help Blossom round-up the spare change of its customers and send it to their Blossom accounts. |
Canni Money Pty Ltd | Canni Money is non-bank lender with a primary focus on SMSF lending using state of art technology at its core. Canni Money will use CDR Data as part of the lending process. |
Cape Pty Ltd | Cape’s application and risk analysis processes allows SME borrowers to connect their bank accounts, leveraging CDR data to instantly verify their identity, account and income information with Cape. This data is pivotal to determine the creditworthiness of our customers.
Cape finds new ways for customers to save by surfacing actionable insights using open banking data; such as duplicate subscriptions, spend categorisation graphs, and hidden savings on foreign exchange.
We review every transaction, comparing it with industry benchmarks and informing our customers of wasteful spending or savings opportunities. |
Care Systems Services Pty Ltd | Real time bank transaction display, reconciliation and analysis for business bank accounts. |
Cash Converters (Cash Advance) Pty Ltd & Cash Converters Personal Finance Pty Ltd | Cash Converters is Australia’s largest sub-prime non-bank lender, providing responsible credit solutions through a well-established store and online network. Cash Converters will be providing short, medium, and longer-term credit solutions using CDR data via their Early Wage Access, Cash Advance, Small Amount Credit Contract (SACC), Medium Amount Credit Contract (MACC) and Line of Credit facilities.
Cash Converters have two different entities that provide the suite of products listed above. Both entities are Representatives of Basiq. |
Chippit Pty Ltd | To verify users’ identity with their FirstName, LastName, Date of Birth, Address etc, before onboarding them to Chippit App. |
Circular Now (Australia) Pty Ltd | Circular Now Pty Ltd will be providing short and medium term tech device subscription plans using CDR data via our Early Wage Access, Cash Advance, Small Amount Credit Contract (SACC), Medium Amount Credit Contract (MACC) and Line of Credit facility. |
ClubFunders Operations Pty Ltd | Clubfunders platform can assist sports clubs in utilising CDR data to offer their members, players, and fans exclusive deals on daily products and services. Through efficient data analysis and partnerships with relevant brands, Clubfunders helps sports clubs enhance their members' overall experience while also optimizing sponsorships for companies and brands.
Example below
ABC Sports Club has struggled to attract and retain members due to the lack of perks and benefits offered. By using the Clubfunders platform provided the club can leverage CDR data to understand its members' purchasing behaviour and preferences. Based on this data, ABC Sports Club can partner with relevant brands to provide exclusive deals on everyday products and services, such as discounted gym memberships, sports equipment, and apparel.
Through the Clubfunders platform, the club can streamline the data analysis process and form partnerships with brands that align with their members' interests. By offering these exclusive deals, the club can enhance the overall experience for their members, which can lead to increased member retention and attract new members. Additionally, by optimising sponsorships for the brands involved, Clubfunders creates a win-win situation for both the sports club and the brands. |
Credibot Pty Ltd | CrediBot is a Brisbane-based payment management platform targeted at Debt Collection use cases. Consumers engage with CrediBot to explore payment options and set up payments for overdue accounts or give consumers the option of applying for Financial Hardship if the need arises. To assist with the Hardship process, CrediBot will request CDR Data to determine the outcome to the hardship application. |
Credit Union Australia Limited trading as Great Southern Bank | We are one of Australia’s largest customer-owned banks. Our purpose is to help all Australians to own their own home. We will be using CDR data as part of everyday business banking, savings, and finance. |
Data Analytics Holdings Pty Ltd (T/A Fonto) | Fonto have created the ability to seamlessly link daily transaction data with survey research at an individual level - all de-identified, organised, categorised, and curated in a single data ecosystem. Fonto will use Basiq’s secure CDR connection solution to enhance their two products:
Humaniti – A simple budgeting tool to help consumers manage their finances, and they can earn real money doing short surveys.
Surveyz – A survey app where consumers are paid for taking part in market research and earn double the cash and extra prizes when they link accounts. |
Digital Creators Pty Ltd | Whether it’s designing a company’s next innovation strategy, running an accelerator, validating and prototyping ideas or designing and building MVPs – Digital creators has got a “full stack” senior team ready to partner with you and make it happen - fast. They have recently used Basiq’s CDR connectivity capability, coupled with Basiq’s enrich capability, to develop a cashback rewards solution. |
Douugh Australia Pty Ltd | Open banking solutions supporting customers' single view of their wealth, generating spending insights and applying for loans and other services. |
FinFity Pty Ltd | FinFity is an app helping users to |
Fintelli Capital Pty Ltd | Falcon AI, powered by Fintelli Capital, is an advanced financial management platform that automates accounting and tax processes using sophisticated artificial intelligence. Designed for efficiency and accuracy, Falcon AI simplifies financial oversight and compliance for businesses of all sizes. |
Flamingo Tech Pty Ltd | Flamingo’s Smart Analyst helps you forecast by tracking your income and expense behaviours whilst building your financial profile. Main product pillars include, Expenses and Budgets, Savings Forecast, Financial Profile & Wealth Growth. |
Flux Technologies Pty Ltd | Flux helps boost the financial literacy of Australians to reduce financial stress and gain financial confidence. The Flux app turns your finances into a game where you can win weekly prizes, boost your savings, credit score and money knowledge. Flux’s savings game “Win the Week” incentivises Australians to save money with the chance of winning guaranteed weekly prizes.
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Fundabl Pty Ltd | Fundabl will use CDR Data to have direct view-only access to potential clients bank accounts. For new clients, this will allow us to complete our credit underwriting process and decide whether or not to lend to the business. For existing clients, this will allow us to monitor their financial performance and the continued serviceability of our funding. |
Fundency Pty Ltd | Fundency Pty Ltd will be providing short to medium term credit solutions using CDR data via our Small Amount Credit Contract (SACC) and Medium Amount Credit Contract (MACC). |
Fundo Loans Pty Ltd | Fundo Loans is an online provider of small amount credit contracts. Having access to CDR Data will assist Fundo in not only lending responsibly, but lending quickly to give their customers access to same day settlement. |
GOLDEN EGGS INVESTMENT SERVICES PTY LTD (T/A Golden Eggs Home Loans) | Golden Eggs is a mortgage broking company which also provides tips and tools on money management to help people save for their deposits and pay off their mortgages faster. Services provided using CDR Data: 1. Guide clients in setting out their personal household budget by spending category and 2. Show them how they are performing compared to their budget. Our tool is a planning tool for the client. |
Handout Loans Pty Ltd (formerly A to Z Loans Pty Ltd) | We are an online direct lender that provides small and medium sized credit contracts. |
Hello Stash Pty Pty Ltd | Stash Me Pty Ltd utilises CDR data to enhance our peer-to-peer lending services, enabling more accurate and swift credit assessments. This data supports our platform's ability to match borrowers with suitable lenders effectively, while a service fee is charged for facilitating each transaction, ensuring a secure and efficient process for all parties involved. |
Hirum (Australasia) Pty Ltd | HiRUM Software Solutions (a Guesty Company) provides Property Management Software and Channel Management Solutions to the Accommodation industry, including bed and breakfast properties, holiday homes/vacation rentals, permanent/residentials, resorts/strata management and motels. Property Management Software (PMS) specialising in Trust Accounting. CDR data is presented within the PMS so it can be matched against the receipted funds, making for a more seamless End of Month process. |
Infotrack Pty Limited | InfoTrack has created a Financial Disclosure product to assist lawyers with family law transactions such as divorce settlements. The platform enables lawyers to gather critical documentation from their clients, with the client accessing a range of information and documentation behind secure logins. The information is made available to the lawyer to support the clients financial position and legal transaction in a simple, efficient and secure way. |
Investar.io Pty Limited | Investar.io will use CDR data to assist with portfolio analysis, investment strategies, current investment health and financial correlation. |
InvestLogic Group Pty Ltd | InvestLogic are property buyers agents who specialise in helping clients find the right investment properties. InvestLogic provide personalised guidance for first-time investors and experienced investors alike, helping them to make informed decisions and achieve their financial goals using our Portfolio Plan portal. InvestLogic will use CDR dats to help inform its borrowing capacity calculators use to determine a customer's ability to borrow and to provide more realistic scenarios for a client's portfolio plan. |
IronFly Technologies (Australia) Pty Limited | A dashboard for individual consumers to view their aggregate assets and transaction history. |
Karmo Pty Ltd | Karmo will use CDR data to streamline customer evaluations for car subscription services. Karmo will automate approval processes using financial data to assess creditworthiness and personalise subscription offerings, enhancing customer onboarding and risk management. |
Ledger One Pty Ltd | Ledger One provide an aggregated and granular view for individuals and small businesses of their own data, in a simplified format, to give them a holistic financial snapshot and way to monitor and track their spending habits. |
LoanCheckr (Finance) Pty Ltd | LoanCheckr will use CDR data to provide brokers with their clients' home loan data which will help identify opportunities for refinancing, improved pricing or improved loan products. This analysis will help brokers offer more tailored advice and suitable loan options to their clients, ultimately saving them money and improving their financial well-being. |
LodgePro Pty Ltd (previously Thryvi) | CDR banking data will be used by LodgePro clients to complete their tax returns |
Otivo Pty Ltd | Otivo want to help every Aussie take control of their financial future. They will do this by connecting with a user’s CDR data via their easy to use and secure app to provide each user with tailored financial advice. Just like a traditional financial adviser, Otivo are fully licensed and because they’re 100% independent, their advice comes with no strings attached. |
Medical Financial Pty Ltd | Established in 2008, Medical Financial provides a complete financial advisory service for members of the medical profession, including helping with financial decision making, superannuation, investment, and insurance. Medical Financial will use bank and loan account balances and gain an understanding of their expenditure to monitor financial plans for their clients and help them with their financial decision making. |
Mooch IT Pty Ltd | Mooch leverages CDR data to create a user-friendly and secure environment for peer-to-peer lending, enabling individuals to access financial resources and services while maintaining the utmost transparency and privacy. |
Moolah Personal Finance Pty Ltd | Moolah empowers customers with the tools and practices to take control of their personal finances and track progress against their financial goals. |
Moroku Pty Ltd | Moroku Odyssey and its companion design process On-Ramp and white label apps, helps banks and FinTechs provide unique and compelling experiences to attract and engage customers around a telos of wellness, architected around serious games. Moroku Money uses CDR Data to: Bring customers money onto a single screen, from all of their banking relationships, so customers can see their entire money position. Accelerate loan origination by bringing all of their customers assets, liabilities, expenses and income into the process at a single click of a button. Fuel Odyssey driven customer journeys by knowing more about where they have been and where they might be going in order to support them for their money efforts. |
My Mortgage Freedom Pty Ltd | My Mortgage Freedom comprises a dedicated team of brokers committed to securing the most competitive rates for home loans and commercial loans for their clients. My Mortgage Freedom provides clients with tailored and competitive loan options, enabling them to achieve homeownership or business aspirations while keeping their financial well-being in mind. |
MyGigsters Technologies Pty Ltd | Income and expense tracking for sole traders to facilitate bookkeeping and tax accounting. |
Next Payments Pty Ltd
| Provision of digital wallet onboarding and activation services. |
Now Finance Group Pty Ltd | The provision of Personal Loans and Auto loans to individuals in Australia |
OlivsMatic Pty Ltd (T/A Olivs App) | Olivs App is Software as a Service with solutions including accounting, document management, time management, and client management. Within the accounting module, Users (i.e. business owners) will be able access to their CDR data and use it to prepare their financial reports and taxation calculations for specified Business Units. |
Open Home Loans | Finance and Mortgage Broking Services for residential mortgages. |
OurMoneyMarket Operations Pty Ltd | We will use CDR data for our consumer finance products, including car loans, personal loans and credit cards, as well as personal finance management tools that assist customers in tracking their spending and setting budgets. |
OwnHome Services Pty Ltd | Lending to consumers for the purchase of residential property in Australia. |
Pay.com.au Pty Ltd | Pay.com.au is a B2B start-up facilitating payments and helping businesses to earn points by making business payments. They will use CDR Data to check the bank account name against the bank account details to provide extra security by making sure it's the customer adding their bank accounts. |
Payfaster Pty Ltd | We provide short term personal loans to customers who incur unexpected expenses and need help to get by. These loans usually range from $300 - $2,000. |
Paysolve Pty Ltd | CDR data allows Paysolve to analyse bank transfers to clients' accounts, and match them to payment objects such as invoices. |
Pearler Investments Pty Ltd | Pearler is an investing app designed to help everyday people reach their financial goals and become successful long-term investors. They want to make investing rewarding and simple, have built tools to help you grow, not trade or gamble. Pearler will use CDR data to connect customers directly with their banking data within the app to make investment easy. |
Pocketsmith Limited | PocketSmith provides personal finance software to individuals, to help them manage their money and plan their financial future. They deliver web and mobile applications via a premium subscription-based software-as-a-service model. Using CDR data, PocketSmith will enable users to connect to their banks to automatically update account and transaction information. This will let users gain insights into their spending and earning activities, and plan for the future, without importing data files downloaded from their online banking interface. |
Pokitpal Pty Limited | PokitPal provides a cashback rewards and round-up service that has established itself as the leading platform in Australia and New Zealand. The service also offers a unique round-up feature that allows users to effortlessly save spare change from everyday transactions. |
PropertyMe Pty Ltd | PropertyMe aims to provide cloud services to the evolving needs of the modern ‘property manager’. Unlike conventional methods of property management, PropertyMe combines the key functions of property management into one powerful cloud solution to eradicate repetitive tasks whilst keeping agile. PropertyMe intends on using CDR data to automatically import transactions directly from their client’s bank account to be matched to different parts of their PropertyMe portfolio for processing and reconciliation. |
Propertystack Software Pty Ltd | PropertyStack will be providing access to a bank feed for users to allow them to reconcile transactions. |
PS Rewards Pty Ltd | Cashback rewards program - CDR data to be used to verify purchases for provision of cashback rewards. |
Quantaco Securities Pty Ltd | Quantaco provides chartered accounting, payroll, insurance, valuation, and capital services to the Australian hospitality industry. CDR data will be used to implement automated bank reconciliation for our customers, matching payments with bank deposits. |
Rate Tracker Pty Ltd | Ratetracker diligently tracks mortgage interest rate changes to keep their users informed about better mortgage rates and deals. They provide ongoing market analysis to empower customers in making informed decisions, allowing them to explore potential cost savings and improved terms on their home loans. |
Savy Technologies Pty Ltd | This is required by the ACCC but isn’t shown anywhere, but essentially is your CDR Use Case. Again, 1 to 2 sentences is plenty. The SAYV App is an all-in-one money management solution, where a user can track their spending, monitor their bills, set savings goals, budget effectively, access thousands of money-saving tips, ideas, and suggestions, as well as access detailed reporting of their financial status. Compared with the many financial budgeting app products currently available in the marketplace today, SAYV differentiates itself from the others by combining budgeting and financial monitoring outputs with an established database of money saving and money generating ideas, tips and suggestions which will allow the user to not only monitor their personal finances but simultaneously improve the way they can save money while controlling their cost of living. SAYV’s key objective is to assist a user to become a smarter saver. |
Shape Money Pty Ltd | Shape helps people connect all their accounts in one place using CDR. It combines that data with an intelligent assistant powered by AI to help you track and grow your wealth. |
Sharesies Australia Limited | Sharesies is an investment app that enables you to buy part of any share with as little as 1¢! Customers can choose from thousands of companies and funds across Australia, the US, and New Zealand, all with no minimum investment. Sharesies will use the CDR to enable round up capability by anylising open banking and transactional data to help enhance customers experiences. This information will be used for easy and regular top-ups to a customer’s investing wallet to enable them to buy more shares. |
Sipora Pty Ltd | Sipora is a round-up as a service platform specialising in supplying round-up technology and infrastructure to a wide range of consumer facing industries. Sipora accesses a consumers transactional data to calculate user opt-in round-ups on every day purchases to be distributed to a place of their choosing. Depending on the customers entry point (app or web app they are signing up with), funds can be distributed to a consumers superannuation fund, designated charity, savings account, to pay down debt, etc. The platform is supplied to partners via an API and managed service. |
Sliqpay Pty Ltd | The Patient application process will access Basiq CDR data, which enables us to assess affordability to ensure swift and appropriate payment plan accessibility. |
South West Slopes Credit Union Ltd | SWSCU provides a complete range of financial services to its members, these include deposit accounts, personal loans and home loans. |
Stakeshop Pty Ltd | Stake uses CDR data to verify our customers domestic bank account details. Account verification improves the security of a customer's funds, provides faster withdrawal times and access to additional products and services. |
Subscribr Pty Ltd | Using CDR Data, Subscribr will offer enhanced subscription detection and analytics linked with banking activities, enabling users to identify and optimize their subscription spending effectively. |
Sucasa Loans Pty Ltd | Sucasa is a lender in the residential mortgage space aiming to address the deposit hurdle to home ownership. Sucasa provides home loans to high quality borrowers. Sucasa will use CDR data as part of our credit assessment process to improve data collection and the overall customer experience. |
TaxTank Pty Ltd | TaxTank will be using CDR data to provide live bank feeds for users. In a similar way to business apps like xero, from bank feeds in TaxTank users can allocate transactions to categories mapped to the relevant 'Tanks' and 'Tax Summary' to see their tax and equity position in real time. |
Telstra Super Pty Ltd | Bank Account Details Verification |
The Difference Fund Limited | The Difference is Australia’s first app-based digital charity, supporting microdonations as you shop. The Difference app that allows you to turn your virtual small change into a big impact. It rounds up all your daily transactions into a whole number, collecting a set amount each month to donate to a charity of your choice. |
The Payment App Pty Ltd | The Payment App is a technology company providing smart data tech and fintech solutions to businesses. Their services help businesses to reduce fraud exposure, meet their compliance obligations, and facilitate payment services. The Payment App will use Basiq’s secure CDR connectivity solution to enhance this process. |
Tiger Brokers (AU) Pty Ltd | Tiger Brokers has designed a platform that is innovative, user-friendly and focuses on the power of knowledge by giving everyone access to the market and allow them to grow to their full potential as investors. They have also integrated trading data, insights, and tools into their platform to give everyone a better understanding of the evolving market and the total capacity to build up their skills.
Tiger Brokers will use Basiq’s secure CDR connectivity solution to assist consumers to allow consumers to connect directly to their CDR data within the Tiger Brokers platform. |
TOMRA Collection Pty Ltd | TOMRA Collection will use CDR data to identify the BSB and Account number to which our customers wish their refund (from recycling beverage containers) to be paid to. |
Venture 5 Group Pty Ltd (T/A CashnGo) | CashnGo is a unique short term money lending business that provides fast loans to people who need extra cash. Their loans are really for people who require a small amount of money for a short time.
CashnGo provide their loans via fully digital application process. Banking transactions data retrieved via CDR data will be used to evaluate their loan applications and their potential clients’ ability to pay. |
Very Social Capital Pty Ltd | Very Social Capital provides three different micro loan 'buckets' that enable various loans for different 'essential' costs of living. The three buckets are "Essentials" transactional account for daily expenses; "Safe", emergency savings for emergencies; "Bills", for helping cover bill shock and cost of living. |
Way Forward Debt Solutions Limited | Way Forward is a small not for-profit-organisation with a dedicated team of hardship advocates who have typically worked for financial firms or as a financial counsellor. Their skills and insights give them the best possible foundation to assist consumers struggling with their personal finances and explore options of getting out of debt that don’t include Bankruptcy or Part IX Debt Agreements. Having access to CDR data via Basiq’s connectivity functionality will greatly speed up the process and remove some of the burden off consumers who are already overwhelmed. |
Wealth CEO Pty Ltd | Wealth.CEO’s Education Platform utilises Open Banking API (CDR Data) integration to empower platform users to have access to a visual dashboard, equipping consumers with a digital Financial Passport tailored to their goals and requirements. |
Wizard Business Solutions Pty Ltd | To provide a treasury tool to allow a user to plan cashflow requirement and control supplier and other payment across multiple bank accounts and business units. The platform will provide a live integration with Xero and CDR data to allow for full synchronisation of invoices, payments and other supplier information. |
For more information, please see https://www.cdr.gov.au/for-providers/representative-arrangements
Outsourced Service Provider Arrangements
Basiq has engaged the following outsourced service providers (OSP) who will have access to CDR data:
OSP Name | Is the OSP an accredited person? | Nature of services it provides | CDR data the OSP will access |
AuthSignal Ltd (New Zealand) | No | Authsignal can be used in a business’ identity stack or authentication flows anywhere in the customer journey. Authsignal’s platform enables the rapid deployment of fraud policies and rules, passkeys, push authentication, passwordless authentication, KYC, and biometric authentication. | Account Details
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Basiq.io DOO (Serbia) | No | Basiq.io DOO provides various technical support services in relation to the Basiq API Platform. | Account Details
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Codat Limited | No | Codat is a B2B platform that makes accessing consented business data from banking, accounting, and commerce platforms easy. Commercial customers need to only build once to their API to aggregate data, underwrite credit risk, and automate accounting for their SMB customers.
Basiq will be providing CDR Connectivity to their commercial customers, via their innovative connectivity functionality, making it easier for more commercial businesses to connect to the CDR regime.
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Nimo Industries Pty Ltd | No | Nimo is a PaaS, digital lending platform that automates the end to end lending experience, from acquiring or onboarding new customers to loan decisioning, settlement, and money in the bank. | Account Details
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Simpology Pty Limited | No | Simpology provides a digital loan origination platform to power end-to-end smart loan application journeys
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