Data Encryption
Access
All data sent is encrypted with 256-bit encryption, secured by 2048-bit keys. This is the same level of encryption that the banks use.
Bank Statements.com.au service is provided by Illion. It only allows read-only access of your bank account and bank details are encrypted in transit and stored securely.
By providing electronic Bank Statements this helps us and credit providers meet their Responsible Lending obligations in order to verify your income and expense information.
Credit Providers need to verify your income by checking your bank deposits to determine your average monthly income. This involves looking at any regular deposits from your employer or business transactions. They also need to verify your outgoings and spending habits.
No, your login credentials are never stored. They are securely discarded once they have been encrypted and passed to the bank. Your personal details are never shared with or sold to third parties.
When reviewing bank statements, lenders typically assess:
✔ Your regular income deposits (e.g., salary or business payments)
✔ Your spending and expense habits
✔ Any regular financial commitments (loans, rent, bills, etc.)
✔ Overall account conduct and balance patterns
This real-time financial picture supports accurate income verification beyond payslips alone.
illion is a trusted and independent provider of data and analytics products and services in Australasia, with the company’s consumer and commercial credit bureaus forming an important element of Australia and New Zealand’s financial ecosystem.
Illion’s website can be accessed here:https://www.illion.com.au
When you apply for a loan with iCREDIT, many lenders will ask for recent bank statements to verify your financial situation as part of responsible lending obligations. These statements help confirm your income, spending patterns, regular expenses, and ability to repay the loan. Providing accurate bank statements helps speed up your application and improves assessment accuracy.
To make this easier and more secure, iCREDIT partners with BankStatements.com.au, an Australian platform trusted by major financial institutions.
Your data is encrypted using 256-bit encryption — the same level used by banks.
Only read-only access is provided — no one can move money or make changes.
Your login credentials are never stored or shared with third parties.
This secure retrieval process allows you to submit required financial evidence quickly without manually downloading and uploading PDF statements.
