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Nov 09 2023 
illion Transaction Risk Score blog
The illion Transaction Risk Score (iTRS) assesses an applicant’s bank transaction data to provide a fresh and unique insight into their financial behaviour.
This solution is the most significant enhancement to data-driven risk management since the introduction of Comprehensive Credit Reporting.
Both lenders and consumers can stand to profit through better credit underwriting, more effective loan pricing… -
Nov 21 2022 
Five important steps to safeguard your business from identity theft
In light of recent data breaches that have now (unfortunately) become commonplace, this week’s International Fraud Awareness Week 2022 couldn’t have come at a better time.
Business that are custodians of customer and employee data must take important and practical steps to prevent hackers from accessing this information.
Our video will help you with understanding what you…
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May 09 2022 
Banking transaction data a useful credit assessment tool
The banking transaction data available through open banking offers a powerful add-on to credit reporting data and internal credit scores, giving lenders greater confidence when assessing loan applications from “credit immature” borrowers.
This is the key finding of an illion study of how Australian consumers with little or no credit profile are dealt with by lenders.…
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Dec 22 2021 
How to unlock the power of open banking with the Consumer Data Right
With Australians now sharing their financial data, new opportunities are opening for both small and large businesses.
Consumer awareness and confidence about the benefits of data sharing is growing, as greater competition in the financial services market improves customer experiences.
For businesses to access this new wealth of data, certain regulatory requirements must be met.
Our quick guide…
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May 26 2021 
Open banking’s first major credit innovation
Approved deposit taking institutions (ADIs) hold a raft of data that shows both the financial state and spending behaviour of a depositor. This information is captured whenever there is an inflow or outflow of funds in a current account, overdraft, credit card, revolving personal loan or home loan.
While this data offers the capability to understand…
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May 21 2021 
New score accelerates rollout of open banking
19 May 2021: Sydney, Australia: Leading data and analytics business illion has accelerated the rollout of open banking in Australia with the launch of an innovative new transaction score.
illion’s data scientists have unlocked new insights into consumers’ credit risk behaviour, based on key trends from income and expense transactions that have traditionally been hidden.
“In a…
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Mar 03 2021 
The big open banking decision – should your organisation go it alone, or is a third party the way to go?
With the Consumer Data Right (CDR) now live, customers can share their banking data with third party institutions such as banks, credit unions, fintechs, online lenders and money management apps. This is open banking, a regulated way for consumers to share their data, giving them greater control and encouraging widespread competition. It’s likely that by…
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Jan 19 2021 
ACCC misses the opportunity to fine-tune open banking Rules
By Richard Atkinson, GM Consumer Product, illion
The Australian Competition and Consumer Commission has published its third set of amendments of the Consumer Data Right (CDR) rules which are required to underpin Australia’s emerging open banking system.
The amendments follow the release of a Consultation Paper by the ACCC in October 2020, where feedback was requested on…
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