We've got your back!

We've made applying for a loan as quick and easy as possible.

Partnering with Ilion and Credit Sense we've implemented bank statement retrieval technology that allows us to digitally verify income and expenses.

We've partnered with Illion's market-leading Bank Statements technology which provides a lighting fast, frictionless web-based solution for the retrieval of bank statement data, that boosts conversion rates for lenders and brokers. Our technology is used by thousands of lenders and brokers in Australia and New Zealand. You can read more about them here. We're also partnered with Credit Sense as an additional data provider.

Our Process, simple.

1. When you choose to use finance, you'll be asked to fill out a credit application form.
2. Once you've submitted your application form the Smiths Finance team will recieve it.
3. Our system will send you an SMS and email with a URL to complete the process for sending your bank statements.
4. We will review your application and do everything we can to approve your application.
5. We will then let you know if your application has been approved or not.

Is bank statement retrieval secure?

Security is a high priority for both Smiths City Finance and illion. The illion retrieval technology uses 256-bit encryption, secured by 2048-bit keys, which is the same level of encryption used by most banks. This means your bank login credentials are not stored or shared with anyone (including Smiths City Finance or illion employees). Once statements have been securely collected by illion, they are sent to Smiths City Finance, and then permanently deleted.

Do I have other options?

You have the option to manually upload your last 90 days' worth of transactional and savings statements from all relevant bank accounts and providers. The bank statements files must be in original PDF format (as provided by your bank). However, please be aware that manually providing bank statement will take our team longer to review.

FAQ's

*NB Illion is also known as bank statements.com.au

What does BankStatements.com.au do?

They help lenders remove friction in the process for credit applications. This means less paperwork, less fuss and a quicker decision about loan approvals. They do this with their own technology that retrieves your bank statement data and sends it directly to Smiths City Finance Limited (SCFL).

Who needs the bank statements?

As part of tighter government regulations for lending money, most consumer loans and finance agreements require bank statement data as part of the loan evaluation. Lenders need to make reasonable inquiries into your ability to pay back the loan. Bank statements are an important part of this reasonable inquiry.

Why are bank statements important?

Some of the things your bank statements will show are your income including wages, other loan repayments and your expenses. These factors help determine that you can afford to pay back the loan.

How many months of statements are required?

We require 90 days (3 months) of bank statement data for all your bank accounts.

Can you obtain Bank statements from multiple banks?

Yes. You can use the process to provide bank statements for multiple banks using the one link.

Who authorises Illion to get my bank statements?

You do. We can’t access your bank statements without your permission.

What information do you need before you start

You need to have your internet banking login credentials.

What do Illion do with my bank statements?

Illion make them available to SCFL. That’s it. The statements are downloaded via a secure method.

How much does it cost?

It’s a completely free service to you if you’re applying for the loan. It’s similar to a credit check the lender pays the fees so you don’t pay anything.

What security measures are in place?

Security is Ilion’s highest priority. All data sent to Ilion’s server is encrypted with 256-bit encryption, secured by 2048-bit keys. This is the same level of encryption that the banks use.

Why should I use this service?

It will enable SCFL to access your bank statement transaction data faster and securely. We then provide that data in a format that makes it easy for SCFL to make an assessment on the right product for you and to make a quicker decision

My bank has told me not to provide my internet login details

Generally, this refers to sharing credentials with another user, and doesn't consider using a secure service such as bankstatements.com.au. Ultimately you decide whether or not to use this service. Using this service can assist SCFL in making consistent and faster decision.

How does Illion prevent people from hacking my data?

Bankstatements.com.au service is independently audited at least annually to ensure our service is secure.

Does Illion store my account information?

Your login and password credentials are never stored. Your financial data is stored for a short period to allow lenders to retrieve the data directly from bankstatements.com.au. After the data has been provided to the lender, all personally identifiable information is securely removed.

Do you store my internet login details?

No - the bankstatements.com.au service does not store your credentials. Ever.

What happens to the data after I have finished entering in my account details?

SCFL will retain the information on your loan application file in accordance with their data retention policy which is required by New Zealand law.

What account data will be provided?

The data available will be 90 days of bank statement activity within your online banking profile, however bankstatements.com.au system will automatically mask Credit Card numbers so these cannot be seen by SCFL.

Can I restrict the accounts you can access?

Bankstatements.com.au will automatically download 90days of bank statement information for all accounts.

What happens if I have a child account attached?

During the retrieval process you will have the option to select the profile you wish to retrieve data

from

What should I do if there is an error?

Take a screen shot or record the error code/message and provide this information to SCFL.

What happens if I have a joint account with my spouse or partner and they are not applying for the loan? Will you see this information?

Just like with PDF statements, joint accounts will show information for both account holders. SCFL will decide with you about wages or expenses that apply to you or your partner.

What happens if I have a joint account with my spouse or partner and the internet login details are different or are with another bank?

You will have the option to login through additional institutions during the statement retrieval process. SCFL will be able to help you understand the process that you and your partner will need to go through.

Can you access all banks?

Bankstatements.com.au support most financial institutions, however some may not be available, and you may need to provide your bank statements manually for these institutions.

What happens if I use more than one bank?

You will have the option to login through additional institutions during the statement retrieval process.

Are you breaching privacy laws by asking me to action this?

Bankstatements.com.au adhere to all New Zealand privacy laws and principles and this service is completely compliant with all New Zealand legislation.

How can I be certain the link I receive is from SCFL

If you are unsure that the link provided to you was from a SCFL, contact SCFL directly to verify that the link provided was from them.

Can you access store accounts such as my GEM loan accounts etc?

Bankstatements.com.au support some store accounts, search your card/institution type during the statement retrieval process to determine if we support your institution.