Akahu Apply is specifically designed to optimise loan applications, financial hardship applications, and other types of financial assessment.
It combines Akahu's open banking connectivity, PDF processing, and data enrichment capabilities.
Users, such as loan applicants, brokers, or lenders, can connect accounts or upload PDF bank statements. The data is then aggregated and enriched, delivering a high quality output dataset to make decisioning fast and accurate.
Akahu Apply significantly reduces the human time involved with preparing and assessing financial applications, saving up to 5 hours per application.
“The typical home loan application arrives as a PDF file containing between 50 to 400 pages. Akahu Apply automatically extracts the relevant data and enriches it into a useful format for our lending team. This has significantly reduced the time it takes our team to provide a decision on a home loan application, meaning that we can serve a higher volume of Kiwi consumers looking for financing solutions. We’ve been blown away by the quality of transaction enrichment and intuitive reporting.”
- Fred Ohlsson, CEO of Avanti Finance
Akahu offers the most comprehensive and precise data enrichment process in New Zealand. We detect intrabank and interbank transfers, categorise income and expenses, surface alerts, and provide you with a high quality output dataset that you can trust.
Akahu Apply is able to process a large volume of transactions in seconds, returning you machine-readable and human-friendly output files that enables you to make fast decisions.
You can start using the Akahu Apply web portal today without any technical integrations. Alternatively, you can create an API key and embed the functionality into your existing systems.
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“Just wanted to let you know that we’ve started using Akahu Apply and it’s brilliant - [another provider] on steroids. We’ve even thrown bank statements already received via [another provider] into Akahu because Akahu gives us a faster result and surfaces better info. Yes, that’s paying for data twice but when it saves my team an hour per app, who cares!"
- Campbell Hastie, Hastie Mortgages
If you'd like to share information about Akahu Apply directly with your customers, here's a page that is specifically designed for end users.
Akahu is an "accredited requestor", meaning that we are a direct participant in New Zealand's regulated open banking system.
Where possible, Akahu connects to banks using this regulated system.
Look for the official mark to know when you're being invited to use the regulated open banking system.
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We also support "classic connections" with banks and other financial service providers that are not part of the regulated open banking system.
Classic connections are facilitated by Akahu logging in as you in order to fetch the data or initiate the payment in accordance with your instructions.
Akahu generates PDF statements for loan applications using the regulated open banking system.
Each statement includes information about the account number, account holder, closing balance, relevant credit limits, date range, and a list of all applicable transactions.
There is also a timestamp of when the data was retrieved, and confirmation that the data was retrieved via an official open banking API.
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We can provide technical support to integrate the Akahu Apply API into your existing workflows.
Alternatively, we can provide you with a login to the Akahu Apply web portal so that you can immediately begin a free trial.
