WeMoney launches Connect: AI-powered lending assessment built on the Consumer Data Right
As the Consumer Data Right comes of age, Connect and its Agentic Assess capability turn consented bank data into a worked lending assessment, applied against each lender's own credit policy.
PERTH, Australia, 1 October 2026: WeMoney today launched WeMoney Connect in a limited early access release for Australian banks, non-bank lenders, brokers and other financial institutions. Connect provides a verified, source-linked view of an applicant's income, expenses and liabilities. Through its Agentic Assess capability, Connect applies each lender's own credit policy to that evidence, so lending teams can understand risk better and make better lending decisions. Once an applicant has shared their data, the file can be decision ready in minutes.
WeMoney Connect is secured by Mastercard Open Finance, with bank data shared through the Consumer Data Right (CDR) using Mastercard's open banking infrastructure. Mastercard is also a strategic investor in WeMoney, building on WeMoney's participation in the Mastercard Start Path Open Banking program.
For lenders, the hardest work comes before credit policy can even be applied: chasing documents, reconciling income and expenses, checking existing liabilities and investigating statements that may have been altered. In a joint letter to Treasury in April 2026, Australia's banking, broking, customer-owned banking, finance and fintech industry bodies warned that current verification is "not only slow and costly, but increasingly vulnerable to manipulation". WeMoney built Connect in response, at the request of lenders it already works with.
How WeMoney Connect works
Applicants select Sign in with WeMoney within the lender's application journey, choose their bank from more than 118 banks and financial institutions, and authorise the information they want to share. They never hand their banking password to WeMoney or the lender. The CDR framework requires that applicants are told what is shared, who can access it, for what purpose and for how long, and how to withdraw consent.
Because the data comes directly from the applicant's bank, the lender works from information verified at the source rather than from documents that can be altered.
WeMoney Enrich then adds merchant context and a category to each transaction, drawing on more than 372,000 recognised merchants. Enrich runs on Kookaburra, WeMoney's own post-trained model, which reaches 98% categorisation coverage at the standard a lending decision requires.
Agentic Assess calculates the applicant's income, expenses and liabilities, applies the lender's credit policy and serviceability rules, flags knockouts before a credit enquiry is made and shows the evidence behind every finding. The decision stays with the lender.
"We're entering an agentic era in financial services, and for me it's one of the most exciting evolutions in consumer lending," said Dan Jovevski, Founder and CEO of WeMoney. "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.
"For years we've helped Australians make sense of their financial health, and helped them find and apply for finance through BrightMatch. Along the way we built our own AI to understand their transactions. Connect is where we connect the dots, taking the best of what WeMoney has built and offering it to banks, lenders, brokers and other financial institutions."
Why now
The CDR has passed 1.6 million active data-sharing authorisations and more than 10 billion API calls, according to the latest ACCC figures, and the move away from screen scraping is accelerating as consumers look for safer ways to share their financial data. From 9 November, the largest non-bank lenders begin sharing consumer data, bringing car loans, personal loans and non-bank mortgages into the system and giving lenders a fuller view of an applicant's existing liabilities.
"The Consumer Data Right has reached an inflection point," Jovevski said. "The question is no longer whether people will share their data, but what institutions do with it once they have it. Connect accelerates that shift. It turns consented data into a worked lending assessment, so the benefit of sharing reaches the applicant in days rather than weeks."
FinPass for consumers and brokers
Connect also extends to consumers through FinPass, the WeMoney passport: a dated summary of their verified financial position. Consumers can review it and share it with a lender themselves, or send it to a trusted third party, such as their broker, who can pass it directly to the lender. The broker and the lender then work from the same verified information.
"With FinPass, Australians can see their verified financial position the way a lender sees it, before they apply, and choose who they share it with," Jovevski said. "People need a clear reason to share their financial information, and confidence about what happens next. Lenders need to understand where the figures came from and what they mean. Connect brings those needs together: a simpler experience for the customer and clearer evidence for the institution."
Availability
Connect is available now in limited early access for banks, mutuals, non-bank lenders and brokers. Lenders and brokers can find out more and register for early access at https://connect.wemoney.com.au/ .
About WeMoney
WeMoney is one of Australia's leading financial wellness platforms, on a mission to help Australians conquer debt, master their money and build stronger financial futures. Its free app, downloaded more than 1.6 million times, lets members see all their accounts in one place, set budgets and goals, reduce their debt, identify unused subscriptions and track their credit score. It also gives them a community where they can share their progress and support one another.
Through BrightMatch, its finance marketplace, WeMoney helps Australians find and apply for loans and other financial products. WeMoney Connect extends that consumer experience to banks, lenders and brokers through consent-based bank data sharing, AI-powered financial analysis and credit-policy assessment.
WeMoney holds unrestricted accreditation as a data recipient under the Consumer Data Right. It publishes research on Australians' financial wellbeing, including its Financial Wellness Report and Prompting a Fairer Future, a 2026 report on how Australians use AI. In November 2025 it hosted the WeMoney Financial Wellness Summit at the Art Gallery of New South Wales, which brought together more than 200 attendees from finance, government, academia and community organisations. WeMoney won at FinTech Australia's Finnies awards in 2021, 2024 and 2025.
