Basiq

Basiq is an open banking data platform founded in Sydney in 2016 by Damir Cuca and acquired in March 2023 by the payments provider Cuscal, under which it continues to operate and trade as Basiq. It supplies the consented bank-data layer that lenders, wealth platforms and financial institutions in Australia and New Zealand use for affordability and income assessment.

The platform has three products. Data connects to more than 135 financial institutions across Australia and New Zealand, reaching roughly 99% of both populations, and returns balances and transaction history including superannuation and energy accounts. Insights turns raw transactions into affordability, income and expense reports. Data Holder is the mirror-image compliance product for institutions obliged to publish data under Australia’s Consumer Data Right, covering authorisation, consent management and security. Basiq was accredited under the Consumer Data Right on 1 July 2021. It employs more than 60 people across Sydney, Melbourne, Belgrade and Nis, and customers include Afterpay, People’s Choice Credit Union, Beforepay, Pearler and Sharesies.

1. Data API: consented account, balance and transaction history from more than 135 institutions in Australia and New Zealand.

2. Coverage: reaches roughly 99% of the Australian and New Zealand population, including superannuation and energy accounts.

3. Insights: derived affordability, income and expense reports generated from raw transaction data.

4. Data Holder: compliance product covering authorisation, consent management and security for institutions obliged to share data under the Consumer Data Right.

5. Accreditation: accredited under Australia's Consumer Data Right on 1 July 2021.

6. Ownership: acquired by payments provider Cuscal in March 2023 and still operating under the Basiq brand.