Australia’s WeMoney has launched an AI-powered lending assessment service built on the country’s Consumer Data Right.
The WeMoney Connect service is being offered in a limited early access release to banks, non-bank lenders and brokers, providing them with a verified, source-linked view of a loan applicant’s income, expenses and liabilities. Through its Agentic Assess capability, Connect applies each lender’s own credit policy to that evidence and, once an applicant has shared their data, the file can be decision ready in minutes.
The service is secured by WeMoney investor Mastercard’s Open Finance network, which enables the firm to access consumer-consented bank transaction data obtained through Australia’s Consumer Data Right.
Dan Jovevski, CEO, WeMoney, says: “We’re entering an agentic era in financial services, and for me it’s one of the most exciting evolutions in consumer lending. Open banking solved the collection of data. The hard part of lending has always been the assessment, and that’s where AI agents now make the biggest difference. Agentic Assess doesn’t replace the credit professional. It gives them a file that is already worked, with every finding traced back to its evidence, so they can spend their judgement on the decision.”