Understanding illion BankStatements

For secure financial transactions and to fulfill lender requirements, we use illion BankStatements for accessing sensitive data like bank statements in the loan process.

Why illion BankStatements?

illion BankStatements is a leading provider in secure bank statement retrieval services, designed to streamline the loan application process. Here’s why we trust illion BankStatements for our clients:

· Security First: Utilizing advanced encryption and security protocols, illion ensures that your financial data is protected at all times. Your login credentials are not stored or visible to anyone, including our team at CarsFinance.com.au.

· Efficiency and Speed: By accessing your bank statements directly through illion, we can quickly and accurately assess your loan application, speeding up the decision process and getting you closer to your new car.

· Privacy Compliance: illion BankStatements operates with strict adherence to Australian privacy laws and regulations, ensuring your information is handled with the utmost confidentiality and integrity.

How Does It Work?

1. Authorization: You authorize illion BankStatements to access your banking information by logging into your bank account through their secure platform. This is a read-only access to retrieve your bank statements for the loan assessment process.

2. Data Retrieval: Once authorized, illion will retrieve your bank statements for the specified period and provide them directly to us in a secure manner.

3. Privacy and Security: Your bank login details are never stored or seen by illion, CarsFinance.com.au, or any other third party. The entire process is automated and secure, ensuring your information remains private and protected.

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Your Trust, Our Priority

At CarsFinance.com.au, we are committed to maintaining the highest standards of privacy and security. We understand the sensitivity of your financial information and go to great lengths to ensure it is handled responsibly and securely.

We chose illion BankStatements for their impeccable track record in providing safe, efficient, and reliable bank statement retrieval services. This partnership enables us to offer you a smoother and faster car finance application process.

FAQs (extracted from illion BankStatements)

We speed up and streamline loan applications. This means less paperwork, less fuss and a quicker decision about loan approval. We do this with our own technology that retrieves your bank statement data and sends it directly to the lender or broker.
As part of tighter government regulation for borrowing money, most consumer loans require bank statement data as part of the loan evaluation. Brokers and lenders need to make reasonable inquiries into your ability to pay back the loan. Bank statements are an important part of this reasonable inquiry.
Some of the things your bank statements will show are your income, that you are regularly paid wages, other loan repayments and your expenses. These factors help determine that you can afford to pay back the loan.
The most common requirement is for 90 days or 3 months of bank statement data. Some lenders do require more, sometimes up to 6 months.
You do. We can’t get your bank statements to send to the lender without your permission.
We are an independent provider of web based bank statement data retrieval services.
illion Open Data Solutions Pty Ltd t/a BankStatements.com.au is not a bank, and does not necessarily have an official association or relationship with any bank or banking institution accessible via the BankStatements.com.au website.
We make them available to the lender to whom you are submitting your loan. That’s it. The statements are either sent via email or stored in a secure database where only the lender can access them.
It’s a completely free service to you if you’re applying for the loan. Similarly to a credit check the lender or broker pays the fees so you don’t pay anything.
Security is our highest priority. All data sent to our server is encrypted with 256-bit encryption, secured by 2048-bit keys. This is the same level of encryption that the banks use. You can read more details about our security measures.