The launch adds a new layer of support for customers’ financial wellbeing, alongside Beforepay’s lending products.
Financial Pulse gives Beforepay customers a free view of their financial health across five areas, built from the latest 90-day window of bank transaction data securely accessed via Open Banking.
– A customer’s “Financial Pulse” has no bearing on a customer’s eligibility, limits or pricing.
– The tool is being introduced to promoting financial health as more Australians feel the cost of living pressure.
– The launch comes as Beforepay passes 2 million registered users since 2019.
Beforepay, the award winning ethical consumer-lending arm of Beforepay Group (ASX: B4P), today announced the launch of Financial Pulse, a new in-app feature that turns a customer’s Open Banking data over the latest 90-day period into a plain-English read of their financial health. Each customer gets an overall “pulse”, ranging from Starting to Excellent, along with a breakdown of “vitals” that signify activity driving their Financial Pulse.
Financial Pulse isn’t a nice-to-have bolted onto a lending app. It’s a real, practical tool.”
— Kasey Kaplan, Deputy CEO of Beforepay Group
Early beta feedback has been encouraging, with 92% of survey respondents seeing value in checking Financial Pulse regularly, 89% finding their result clear, and many feeling reassured or encouraged after seeing it.
“Financial Pulse is a practical tool customers can use to get a full picture of their spending behaviours. More than a simple score, Financial Pulse provides insights in a way that changes how confidently a customer can walk into a big expense, or explain a bad month instead of just feeling it. This feature is available to customers without touching their eligibility, their limit, or their pricing,” said Kasey Kaplan, Deputy CEO of Beforepay.
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“We’ve built a business on everyday Australians trusting us with something real, and that trust should get them more than just access to a loan when they need one. It should get them a genuine handle on their own money.”
The five vitals that power the Financial Pulse each cover a different part of everyday money management:
Money in vs. money out — how income compares with everyday spending
Money movement — transfers between accounts and how money is managed day to day
Money rhythm — patterns in income, regular payments and everyday spending
Short-term debt — recognised short-term repayments, such as BNPL, pay advances and small loans
Money habits — recognised fees, payment reversals and refund patterns
Unlike a credit score, Financial Pulse has no bearing on a customer’s eligibility, limit or pricing, and the result is never shared with other lenders or credit reporting bodies.
Financial health tools like this have typically sat behind bank apps, subscription budgeting products, or financial advisers. By building Financial Pulse into an app people already use for short-term borrowing, Beforepay is meeting customers where a financial check-in already happens, turning a single-purpose borrowing app into a place people can also see the fuller picture of their financial health.
The launch comes as Beforepay surpasses 2 million registered users, making Financial Pulse one of the largest free financial health tools of its kind available to everyday Australians the moment it launches.
Financial Pulse is powered by Cashflow Score, technology developed by Carrington Labs, the enterprise arm of Beforepay Group providing cash flow underwriting and custom Models-as-a-Service for lenders.
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