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Nov 20 2023 
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Nov 09 2023
illion Transaction Risk Score blog
The illion Transaction Risk Score (iTRS) assesses an applicant’s bank transaction data to provide a fresh and unique insight into their financial behaviour.
This solution is the most significant enhancement to data-driven risk management since the introduction of Comprehensive Credit Reporting.
Both lenders and consumers can stand to profit through better credit underwriting, more effective loan pricing…
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Oct 18 2023 
How illion data can help increase customer retention
While acquiring new customers can provide benefits in the short-term, to sustain long-term growth, businesses need to keep customers coming back.
By focusing on customer retention, you can maximise the value of your existing customer base and mitigate the costs associated with attracting new prospects.
At illion, we can help you identify customers who are at risk…
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Oct 18 2023 
Economic Snapshot October 2023
Late payments continue to be on the rise, impacting various industries differently in the Australian economy. illion’s trade bureau helps report on these shifts by monitoring payment behaviour between businesses and suppliers.
Over the last 12 months, the Construction and Manufacturing industries have been stand outs, with a 49% and 31% increase in late payment times…
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Sep 26 2023
Economic Snapshot September 2023
Many mortgage lenders have reduced the time it takes for consumers to get a new home loan or refinance.
In the last two years, there has been a steady decline in the time it takes from an initial enquiry to an account being funded.
While non-Big-4 lenders have traditionally been providing the fastest onboarding and approval processes… -
Sep 13 2023
Customer acquisition methods to maximise your reach
With natural disasters, interest rate increases, inflationary pressures, international instability and economic insecurity, the Australian market has become increasingly turbulent. In addition, consumers are now becoming more discerning and less loyal to their providers. They are constantly looking for better deals, which is resulting in greater customer churn and attrition across many industries.
These challenges make…
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Sep 04 2023
What is biometric authentication
Biometric authentication is a secure personal identification process that uses our unique physical or behavioural characteristics to prove we are who we claim to be.
The terms biometric authentication and biometric verification are synonymous and are often used interchangeably. Both involve the comparison of characteristics against a template or record, for example, a selfie or photo… -
Aug 23 2023
Economic Snapshot August 2023
Recent data shows more young homeowners in Australia and New Zealand are falling behind on their mortgage payments, with the youngest borrowers struggling the most.
Find out more in our Economic Snapshot.
Behind the Data: The who, what, where, when and why behind the data
Who: The analysis is compiled by Louis Tsang, Head of Analytics at illion.… -
Jul 26 2023
Economic Snapshot July 2023
As cash rate increases flow through to higher repayments, more Australian consumers are starting to struggle.
There has been a sharp increase in consumer delinquency rates in the past six months, beyond what we would expect to see seasonally.
Find out what our latest data is revealing in our Australian Economic Snapshot below
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Jun 06 2023 
Why businesses can’t ignore source of funds and source of wealth
It is crucial to understand the concepts of source of funds (SOF) and source of wealth (SOW) when dealing with customer due diligence in financial institutions.
Source of funds refers to the origin of the money involved in a transaction, whereas source of wealth represents the entirety of a customer’s wealth, including assets and the activities…
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