Basiq review
Low-cost bank connectivity with enrichment, categorisation and affordability insights.
Reviewed by iTechGuides Editors · Editorial team · Updated Oct 2026
Basiq is an open banking and financial data API platform for banks, fintechs, lenders, wealth providers and other digital finance businesses. It connects users to financial institutions with consent-based access to account and transaction data, then adds enrichment, categorisation, affordability reporting and other financial insights. Its web and API access, dashboard, consent-management tools, sandbox access and reporting capabilities suit digital finance products that need both connectivity and interpreted financial data.
The published plans separate core data access from enrichment. Customer data costs $0.50 per user per month and covers bank and financial-institution connections, account information and transaction history. Data enrichment costs $0.25 per user per month and adds merchant enrichment, transaction categorisation and enriched transaction details. Affordability reports cost $3 per report and provide affordability reporting and financial-position analysis. A platform access fee also applies alongside usage charges. The Data holder offering covers authorisation, compliance, consent management, security and continuous reporting.
Basiq’s broader feature set includes income, expense, asset and liability insights, real-time connection refresh, dashboard administration, user management, consent UI and policy management, and exports in PDF and CSV. Its listed data types include accounts, transactions, balances, identity, superannuation, energy, income, expenses, assets, liabilities, affordability and statements, with web connections, direct API integration and Open Banking supported. Choose Basiq when enriched financial data and consent workflows matter as much as bank connectivity. Products needing an open-source option or a narrower, connectivity-only implementation may prefer a simpler approach.
Basiq pros and cons
- Where it wins
- Starts at $0.25 per user monthly for data enrichment
- Adds categorisation, merchant enrichment and financial insights
- Supports real-time refresh plus PDF and CSV report exports
- Where it doesn't
- A platform access fee applies alongside usage charges
- Affordability reports cost $3 per report
- Not open source and focused on Australian and New Zealand institutions
Basiq fact sheet, pricing and score →
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