|
Key Takeaways:
This feature streamlines the documentation process, saving you time and effort while ensuring the secure and reliable sharing of your financial information. |
When applying for a loan with the assistance of your Broker, you might be curious about Open Banking generated account statements. Here’s a breakdown of what they are and how they benefit you:
Real-Time Account Statements and Summaries
By using Frollo, you can access Open Banking generated (real-time) account statements and summaries (also known as "Proof of balance" documents).
Broker Access and Regeneration
Your Trusted Adviser (Mortgage Broker) is able to regenerate these statements and summaries at any time during your Consent period. This means they can gather the necessary documentation for lending purposes without needing to ask you to re-supply them.
Key Benefits:
- One Statement and One Summary Per Account: You'll get one statement and one summary for each linked Bank Account. These documents are stamped with the Australian Government-approved Consumer Data Right (CDR) logo, confirming their authenticity.
- Credible Information: The information is populated directly from each linked Bank Account (Accredited Data Holder - ADH), ensuring credibility.
- Secure PDF: The documents are write (password) protected PDFs, submitted via secure "system-to-system" transfer.
- Auto-Attached to Loan Application: The documents are automatically attached to the ApplyOnline® loan application, available via the "Documents" tab, ready for your Mortgage Broker to review.
- Wide Range of Account Types: Statements and summaries are generated for various product categories, including:
- Business loans
- Credit and charge cards
- Leases
- Margin loans
- Offset accounts
- Overdrafts
- Personal loans
- Regulated trust accounts
- Residential mortgages
- Term deposits
- Trade finance
- Transaction and savings accounts
- Travel cards
- And more.
Sample Documents: