The Frollo Financial Passport helps you streamline credit decisions and customer onboarding with a real-time, Open Banking powered overview of your customer’s finances.
Key features
The Frollo Financial Passport uses Open Banking to provide a real-time, complete and accurate picture of
your finances across all eligible bank accounts.
Customers safely and securely link their financial accounts in a few steps to instantly generate an Income
& Expense report that’s mapped to your lending criteria.
A full overview of income, expenses, assets and liabilities using bank-verified data
Auto-populated data points that match any loan application
Grouped spend categories and customised calculations to match your budget profile
Errors that can impact the accuracy of your passport
We retrieve your data via direct bank APIs and sync current account and transactional data to populate the passport. If there is an error on the bank side when performing the linking of your accounts or syncing of your transactional data, this will cause errors.
Problem: duplication transactions
If the transactions API fails to update pending and/or current transactions:
Pending transactions are not deleted when posted transactions are sent causing duplication.
Pending transactions are not updated to the posted transaction sent causing duplication.
Resolution:
You can verify data from your banking app and provide statements directly to your broker;
You can report the issue, within the 14 consent period for investigation.
Problem: account not available
Not all bank accounts are available under the CDR regime at this time.
Common reasons an account is not eligible for consenting are:
the account holder is under 18 years of age
the account is less than 3 months old
there are less than 100 transactions against the account.
Resolution:
Verify if your account is CDR ready in your banking app or web login, under the Data Sharing menu.
Please refer to your banking provider for confirmation if you cannot find this menu
You can verify data from your banking app and provide statements directly to your broker.
Problem: Unavailable - (non-active) Data Holders
Your bank (Data Holder) is not ready for CDR data sharing
The Data Holders that are not current actively are listed: https://www.cdr.gov.au/for-providers/rectification-schedules/rectification-schedule-data-holders-not-active
Resolution:
Contact your bank to understand when your accounts will be available via CDR Data Sharing, also called Open Banking.
You can verify data from your banking app and provide statements directly to your broker.
Problem: $0 or incorrect account balance
This can occur on initial sync or is a fundamental issue with the API the bank is sending for your account details.
Resolution:
Reconsent to this account
Raise a support ticket for us to report to your Data Holder, you must do this within the 14 day consent period
Need Support
Raise a help ticket if you cannot resolve your issue with our FAQs