Lumiant integrates with Basiq to provide “whole of wealth and whole of life” in one portal

Lumiant integrates with Basiq to provide “whole of wealth and whole of life” in one portal

Australian based Software and a Service (SaaS) provider – Lumiant has today announced its integration partnership with leading open banking platform – Basiq. The integration is the first of its kind and will allow users of the Lumiant platform to access with consent, a client’s financial data such as assets, liabilities, income and expenses across a range of financial institutions and accounts.

Lumiant – Australia’s newest values centered, client engagement platform for financial advisers and their clients launched officially at the start of this year, and has commenced its integration project with Basiq – with version 1 of the integration due to be completely shortly.

Basiq’s integration with Lumiant lets advisers take advantage of programmatic access to financial data for actionable insights based on a client’s real-time financial position. By aligning real-time insights to a client’s values, Lumiant enables “whole of wealth and whole of life” in one portal.

The integration will also significantly reduce the time to gather a client’s financial information both current and ongoing by eliminating the need to rekey data, with plans for the daily data feeds from Basiq to prepopulate directly into a client’s fact find within the Lumiant platform.

CEO of Lumiant, Santi Burridge is excited about the integration, saying, “For the next generation of advice seekers, living their life closest to their values is non-negotiable. This integration gives these individuals the ability to align their values to their real-time financial position, and in doing so, enriches to the value of the Lumiant Platform to this demographic.

“By having the ability to house and illustrate a client’s financial values and goals together with their current financial position within one portal, it better enables advisers to empower their clients to make smarter, purpose driven decisions around their financial life.”

CEO of Basiq, Damir Cuca, is also excited about the partnership, saying, “Financial data is a key enabler in the creation of customer-first financial services. Basiq’s platform brokers the exchange between consumer data and consumer benefit. We’re excited to provide Lumiant with a customer’s full financial position which advisers can combine with a client’s needs and life goals to enable more meaningful engagement with finances.”

Uniquely, the Lumiant-Basiq integration will come at no additional cost to advisers utilising the Lumiant platform.