This page describes how Akahu generates PDF statements for loan applications using official open banking APIs.
Akahu is New Zealand's leading open banking intermediary, providing data connectivity to a broad range of government, corporate, and fintech organisations.
We use official open banking connections to generate "open banking statements" for loan applications.
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.
Loan applicants convert through official open banking connection flows at a higher rate than screenscraping flows.
The applicant can log in directly with their bank, rather than entering their credentials into a third party service.
If the applicant is on a mobile device, we can deep link them to their bank's mobile app, which enables simple login using biometrics or PIN.
Our open banking statements enable brokers and lenders to seamlessly transition to collecting data via official open banking APIs.
Akahu open banking statements provide high quality evidence to support your FSLA or CCCFA obligations.
The PDF format ensures that you can share and store application evidence in alignment with your existing processes and policies.
Akahu will generate an open banking statement for the exact time period that you request.
You can be confident that data was retrieved directly from the bank, with no chance of tampering by an applicant.
Akahu Apply combines our open banking connectivity, PDF processing, and data enrichment capabilities.
We can provide you with an account for the Akahu Apply web portal so that you can immediately begin a free trial.
Alternatively, we can provide technical support to integrate the Akahu Apply API into your existing systems.
