Collecting your client’s financial data can be efficient and seamless with the Financial Passport. You use ONE platform to get all their information in a financial passport with the click of a button in Mercury Nexus.
The Financial Passport has been built into the Opportunity Record in Mercury Nexus. Once your client has completed their profile, you will receive their financial passport within minutes. It will be available for you to download from the Open Banking tab.
Connective integrates with Frollo for Open Banking invites to comply with regulatory requirements. Brokers must register with Frollo to send Open Banking invitations. Once a client completes their consent process in Frollo, their data will automatically sync back to the corresponding CRM opportunity if broker and applicant details match.To successfully share financial data via Open Banking, clients must complete two key consent steps:
Bank Consent: Grants permission to retrieve data from the bank or financial provider.
Disclosure Consent: Grants permission to share the retrieved data with the broker. Both consents must be completed for the data to appear in the system.
Note: Admins who are members of virtual branches will receive permissions errors if opening Open Banking for Opportunities linked to Brokers from the main branch.
How to send a Open Banking request
Navigate to the CRM.
Open your opportunity record.
Select Open Banking from the left hand menu.
On the applicant tile, click ‘Get Started’. The consent pop up will appear. Please select the Applicant(s) you would like to send the Open Banking request to.
Click on Create Request.
Select a transaction period of 6 or 12 months.
The Open Banking invitation email that will be sent to your client will appear. This will contain information about Open Banking and how to set up their account. Please note, this email has important information on the data collection standards, so cannot be amended.
The status in the Financial Passport will change to Pending. Applicants have 14 days to accept the invite and create an account.
Note: If the Open Banking status shows as "Pending," ask the client to reopen the original invite link and complete the Disclosure Consent process. If issues persist, click the three-dot menu and select "Re-send invite." Additionally, try performing a hard reload of the app or clearing your browser cache to resolve potential technical glitches.
Common Troubleshooting Steps
If you encounter issues with Open Banking invites, try the following steps:
Perform a Hard Reload:
Windows: Press
CTRL + Shift + RMac: Press
Command (⌘) + Shift + RThis clears cached resources and forces all components to reload.
Sync Your Computer’s Date and Time:
Open your operating system’s Date/Time settings and click "Sync Now" (if available).
Clear Browser Data:
Clear browsing history and cache for "All time."
Re-login to Your Account:
Sign out of Connective/Mercury, then sign back in and try creating the Open Banking invite again.
Try a Different Browser, Internet Connection, or Device:
If the issue persists, switch to another browser, use a mobile hotspot, or try a different device.6. Missing Open Banking Consent for All Banks:
Ensure each applicant or entity uses a unique email address (a business email is acceptable).
Update the application with distinct email addresses for all applicants.
Have the client complete the Open Banking consent process again to sync data from all banks to the Opportunity record.
Open Banking Status Shows as "Pending":
Ask the client to reopen the original invite link (no need to re-link accounts if already linked).
Continue through the flow until they see a clear "You’re Done!" confirmation screen, ensuring the Disclosure Consent is completed.
If technical issues arise, have the client clear their browser cache and reopen the invite link.
Delayed Bank Statement Access:
Wait for the data sync to complete. Once the sync is finished, the data should appear in the system.
Data Not Appearing After Account Connection:
Instruct the client to log back in using the original invitation link ("Get Started" button in the email).
Ensure they click the "Share with Broker" button to complete the data-sharing process.
Accessing Old Data After Consent Expiry:
Option 1: Send a new invitation to the applicant who lacks Disclosure Consent to re-establish it. Once completed, data for both applicants should become accessible.
Option 2: If data is only needed for one applicant, delink or remove the email for the applicant without consent. This resets their Open Banking tile to "New invite" and allows the other applicant’s data to display correctly.
Best Practices for Ensuring Data Accessibility
Use unique email addresses for all applicants or entities.
Ensure clients complete both Bank Consent and Disclosure Consent steps.
Encourage clients to use the original invitation link to finalize the process.
Troubleshoot technical issues by clearing browser cache or using a different browser.
How do I import the Open Banking data into the financials of an opportunity?
Once the client creates their Open Banking account, their Financial Passport will be built and imported back into Mercury in a few minutes. Once it is imported into the Open Banking tab it can be imported to the financials.
Navigate back to the Opportunity Record
Select Open Banking from the left hand menu
The status will have changed from Pending to Complete
Click Copy Results to Financials
Select applicants and click Continue.
Living expenses and liabilities will be copied into the Financials tab
New items are marked with indicators, existing entries remain unchanged.
Note: importing of employment details and income is coming soon.
How do I download the Financial Passport?
Once the client creates their Open Banking account, their Financial Passport will be built and imported back into Mercury in a few minutes.
Navigate back to the Opportunity Record
Select Open Banking from the left hand menu
The status will have changed from Pending to Complete
Click view to see the Financial Passport
The information will be imported as a PDF or Excel file into Mercury and will include:
Linked bank accounts.
Employment and other income.
Liabilities and expenses.
12-month bank account transaction history.
Date range and view of living expenses by monthly average, last 3 months monthly average and last 12 months monthly average. You can also choose different statement periods across different accounts. See attached document below for more information.
Credible and comprehensive bank account data, such as: Institution / Bank account name, BSB, account number, repayment type, frequency, interest rate, available balance (transaction accounts), current balance (loans/credit), limit (calculation of balance plus available redraw), loan term expiry date.
You can also open the information as an excel spreadsheet.
