What is Credit Sense?
As responsible lenders, by law, we need to ensure you can afford your loan. To accurately do this, we need to review your last 90 days banking transactions so we can accurately assess your affordability so a funding decision can be made for you.
Credit Sense is a service used by our business to facilitate automatic bank statement retrieval during our online loan application process.
Credit Sense is an Australian owned and operated company based in Brisbane and is used by a number of leading New Zealand lenders to ensure that credit provider assessments of customer transaction histories are consistent, fair, compliant and efficient.
New Zealand credit providers are obligated to make reasonable inquiries about their customer’s personal situation and be satisfied that the products they are offering are not unsuitable. This enables us to engage our customers with a clearer understanding of their financial situation and more accurately assess the suitability of our products for our customers. Credit Sense assists us to comply with all obligations to our potential customers required by law under the Credit Contracts and Consumer Finance Act 2003.
During the Loan Application process you will be asked to input your online banking details so that a summary of your last 90 days bank statement can be retrieved for automatic analysis.