Basiq — Bank Account Enquiry service
Overview
Basiq is a new Bank Account Enquiry provider for finPOWER Connect — an Australian Open Banking / Consumer Data Right (CDR) bank-data aggregator. With the customer's consent, it retrieves their bank transaction history and produces affordability and statement reports against a Client or an Account Application applicant. It sits alongside the existing Bank Account Enquiry providers (such as Credit Sense and Akahu Apply) as another option for lenders who need verified, consented bank data as part of an application or review.
Basiq works through a hosted consent link. finPOWER Connect asks Basiq to create a consent request; the customer follows the link, chooses their bank and authorises the data share; Basiq then retrieves the accounts and transactions and generates the reports you asked for. The whole retrieval runs asynchronously — Basiq calls back to finPOWER Connect via webhooks as each stage completes, so the enquiry progresses without anyone having to sit and wait for it.
Basiq is an Australia-only service. All configuration lives in Cost Centre XML, so no database changes are involved, and the service is available on both the Desktop and Cloud through matching HTML Widgets.
Prerequisites
Client.BankAccountEnquiry)Admin.CostCentres permission to configure the serviceSetup & Configuration
Basiq is configured entirely on a Cost Centre. Open the Cost Centres form on Desktop, or edit a Cost Centre in Cloud (which uses the HtmlWidget_CostCentreEdit_Basiq widget). Both surfaces expose the same four pages — Service, Credentials, Test Credentials and Options — and only the Service page is shown until the service is switched on.
On the Cost Centre's Basiq page, tick Use the Basiq Service?. The remaining pages appear once this is ticked.
On the Credentials page (and, for testing, the Test Credentials page) enter the Request URL (defaults to https://au-api.basiq.io/) and your API Key. The API Key is stored encrypted. Which credential set is used at run time is decided by the Cost Centre's Test Mode.
Enter a Webhook Target URL (the address Basiq will POST callbacks to) and use the Update action. finPOWER Connect registers the webhook subscription with Basiq and stores the returned Webhook Subscription Id and Webhook Secret (both read-only, secret stored encrypted). Use Test Webhook to confirm delivery. The Webhook Secret is used to verify inbound callbacks — if it is blank, signature verification is disabled and that Cost Centre will not match inbound webhooks.
On the Options page:
- Enable Bank Account Enquiry? — makes the enquiry available for this Cost Centre.
- Requested days — days of history to request (30–730, default 90).
- Redirect URL — where the customer lands after completing the consent flow. As the field tooltip notes, this must also be set in the Basiq Dashboard under Customise UI, Flow settings, Redirect URL.
- Report Codes — a comma-separated list of the Basiq report types offered on the wizard. Leave blank to use the default set
STATEMENT_01,CON_AFFOR_01,BUS_AFFOR_01(statement, consumer affordability, business affordability). - Email / SMS Documents — the Documents used to send the consent link to a Client.
Use the Verify action to confirm the credentials are valid before running a live enquiry.
| Option | Description | Default |
|---|---|---|
| Requested days | Days of transaction history requested (range 30–730). | 90 |
| Report Codes | Comma-separated Basiq report types offered on the enquiry wizard. | STATEMENT_01,CON_AFFOR_01,BUS_AFFOR_01 |
| Redirect URL | Where the customer is returned after the consent flow (must also be set in the Basiq Dashboard). | — |
| Webhook Target URL | Address Basiq POSTs asynchronous callbacks to. | Suggested Web Services URL |
How to Use
From a Client record (or an Account Application applicant), launch the Basiq Bank Account Enquiry. On the first page you confirm the Client/applicant, choose a Branch for cost allocation (shown only when the Cost Centre Add-On is licensed), set the Requested days (pre-filled from the Cost Centre), and tick the Reports you want — the list is built from the Cost Centre's Report Codes and all are ticked by default.
At least one Report must be selected, and the days must be within 30–730. A confirmation notes that a live enquiry incurs a cost (or, in Test Mode, that no cost applies). finPOWER Connect then asks Basiq to create the consent request and returns a consent URL — the Basiq-hosted page where the customer links their bank and authorises the share. Use the configured Email / SMS Documents to send that link to the customer.
Once the customer consents, Basiq drives the rest asynchronously and calls back via webhooks. finPOWER Connect works through the stages — retrieve accounts, retrieve transactions, then generate each selected report — without further intervention. The enquiry stays In Progress until the reports are ready.
Completed reports are saved as PDFs into the record's Document Manager files (logged as supplemental Bank Account Enquiry reports), and a Summary Page (SummaryPage2_BankAccountEnquiryReport_Basiq) is rendered in the enquiry's report tab and on the Client / Account Application Log. The outcome reads Complete, or Complete (N of M reports retrieved) for a partial result, or Failed — no data if no accounts were shared.
Platform Differences
| Aspect | Desktop | Cloud |
|---|---|---|
| Cost Centre configuration | Native Cost Centres form, Basiq page | HtmlWidget_CostCentreEdit_Basiq |
| Running an enquiry | Bank Account Enquiry form, Basiq page | HtmlWidget_Basiq_BankAccountEnquiry |
| Verify / Update Webhook / Test Webhook | Actions on the Cost Centres form | Actions on the Cost Centre view |
| Webhook callbacks | Always delivered to Web Services; the owning Cost Centre is identified by matching the callback signature against each Basiq Cost Centre's Webhook Secret. | |
Permission Keys
Basiq introduces no dedicated permission key. Access is governed by the Bank Account Enquiry Add-On, the Cost Centre service being available, and the standard record-view filters that already control who can open a Client or Account Application.
| Permission Key | Description |
|---|---|
Admin.CostCentres | Required to edit Basiq credentials and options and to run the Verify / Update Webhook / Test Webhook actions. |
CostCentres | Form key required to open the Cost Centre Edit widget. |
Settings
Basiq has no dedicated Global, User or Role setting — all of its configuration lives in the Cost Centre. The settings below govern its availability and behaviour.
| Setting | Location | Description |
|---|---|---|
| Bank Account Enquiry Add-On | Licence (Client.BankAccountEnquiry) | Must be licensed for Basiq to appear at all. |
| Cost Centre Test Mode | User Preferences | Selects the Test Credentials rather than the live Credentials, and marks the enquiry as incurring no cost. |
| Cost Centre Add-On | Licence | Enables per-Branch Cost Centres and the Branch selector on the enquiry wizard. Without it, the Global Cost Centre is used. |
Tips & Best Practices
Each report type in the Report Codes list adds cost and processing. Trim the list to the reports your credit process actually uses (for example, just CON_AFFOR_01 for consumer affordability) so operators aren't offered options you never act on.
Basiq drives the whole retrieval through inbound webhooks. If the Webhook Target URL is wrong or Web Services can't be reached, the enquiry will sit In Progress and never complete. Register the webhook with Update and confirm it with Test Webhook before going live. Note that Basiq can apply a cool-off of up to about 15 minutes before a newly registered webhook becomes active.
If Basiq declines a particular report code, finPOWER Connect skips it after a couple of attempts and reports Complete (N of M reports retrieved) rather than failing the whole enquiry. Only a share that returns no accounts at all is treated as a failure.
Knowledge Base References
Browse the live KB listings for v6.00.04 on the Intersoft support site:
The Knowledge Base articles consolidated into this release notes page: