Smart Statements is a digital service in ubank Loanapp that allows you to invite your applicant/s to log in to their bank accounts so that 1) the account details can be verified and 2) account transactions can be categorised to auto-populate your digital Living Expenses in Loanapp.
If you have already had your applicants complete an illion bankstatements service to recall their statements, and it is within the last 90 days - you are able to use Broker Flow to re-call those statements to complete the Loanapp Smart Statements service.
This means your brokers will not have to re-do the service 🤩
Request Smart Statements via Broker Flow
The Smart Statements widget is found at the top of the Financial Position page in Loanapp.
When you expand the widget, you will be able to request the service:
A new popup will appear. If you havent already done bankstatements.com with your applicant, then proceed to request from applicant.
If you have already completed bankstatements.com with your applicant, then choose "Use broker flow":
You will be prompted to add the Document ID for your pre-ordered bankstatements.com statements, and also confirm you have the consent of the applicant to request this data:
The status of the Smart Statements widget will change to Requested, and waiting:
Receive Smart Statements via Broker Flow
The Broker Flow call should only take a minute or so. You can refresh your screen to refresh the widget - when the Broker Flow service is complete the widget status will change to completed. You can expand the widget to see the results:
The retrieved accounts linked to the DocumentID will be listed:
🚨You can delete an account - but careful: the delete is actually linked to the DocumentID. If 3 accounts are linked to the one DocumentID - delete will delete all 3 accounts linked to the DocumentID
You are able to request further accounts via other DocumentIDs, or by requesting your applicants to login again.
If the listed accounts are all you need, tick the acknowledgement and confirmation tickboxes, and press Submit:
This will 'finalise' the call and:
make available to you the illion report from the call
populate the data into the Loanapp data
add the categorised expenses into the digital living expenses
Once categorisation is completed, you will be able to click the details button to see the returned outputs of the service:
If you click the .html file - this will be the illion bankstatements report:
Categorised Living Expenses will be populated in Loanapp
When you click ‘Submit,’ all of the transactions from your applicant/s accounts will be aggregated. All relevant expense items will be extracted; then categorised into the ubank Living Expense categories and populated into the Digital column of the Loanapp Living Expense section:
You will be able to compare each categorised item against your declared expenses:
For more detail on how to manage your Living Expenses section, click here.