Income Verification

The benefits continue

Speed up
applications

Accelerate your loan application process from days to minutes with Monthio's income verification. Monthio collects and crunches PSD2 as well as additional financial data, providing you with immediate and precise insights to make informed credit decisions.

Less paperwork,
more time

Slash the time and energy your credit team spends on manually obtaining proof of income from payslips or job contracts. With instant digital verification of income, you increase operational efficiency. Now your credit advisors can spend time on what really matters.

Optimised
customer journey

With digital verification of income, application completion increases dramatically due to a quicker and smoother application. This means a better customer experience and conversion rate.

Our unique features for your credit success

Pinpoint income distinction

Monthio’s algorithms automatically distinguish between types of wealth & income, such as monthly salary, student grants and unemployment benefits. This gives you peace of mind and enables you to make better approval decisions.

Automatic income variation check

Our intelligent solution automatically requires that your applicant submit full documentation if their provided income varies too much from the sum the public and Open Banking data sources show. All ready at your fingertips when you need to credit decision.

Advisory dashboard

Our advisory dashboard automatically displays results about applicant income. This enables credit advisors to swiftly access the crucial information needed for credit decisions, streamlining the process and saving valuable time. Now credit advisors can make more informed and accurate assessments, increasing loan approval efficiency.

Precise co-habiting applicant data

When co-habiting applicants share bank accounts, it’s not always clear whose income applies to who. But with Monthio’s intuitive technology, we automatically provide you with the correct data. As simple as it was with paper applications, just infinitely faster.

Graphic showing dashboard of different income payments that can be used to assess loan applicants' finance

Graphic showing income verification on a smartphone as part of loan application process

Graphic showing a graph and financial data points as part of creditworthiness assessment

Moving graphic showing how Monthio splits income from co-habiting loan applicants

Moving graphic of a smartphone including checking data sources and green tick to show data has been accepted

IMPROVED CUSTOMER EXPERIENCE

Give your loan applicants more

Monthio offers a quicker and easier experience for loan applicants. Instead of the cumbersome task of finding and submitting manual documentation, your applicants only need to make a few clicks to select their banks, confirm the data and approve the process.

Give your applicants the user-friendly digital experience they are used to, and increase conversion, satisfaction and loyalty.

Beyond
Open Banking

Unlike other creditworthiness solutions, Monthio goes beyond Open Banking. We analyze a wider range of financial data than just PSD2, employ superior algorithms, and apply meticulous categorization techniques. Start making informed and accurate approval decisions in less time.

Learn more

“Since partnering with Monthio, we have been able to process more loan applications using fewer employee resources. The app also gives us a deeper applicant insight ensuring even more accurate decision making and easier documentation.”

Head of credit - Consumer Loan Provider

Young white women on laptop used to depict a happy loan applicant going through the Monthio flow

“Monthio allows us to process a case in 5 minutes, down from 30. It is a crucial element of our credit assessment. Monthio is the key to our entire credit rating process.”

Head of credit - Corporate & Consumer Loan Provider

Group of colleagues in a bank or other lending team work well together and look at paperwork relating to creditworthiness

“Getting up and running was painless. It was a fast and efficient implementation process.”

Danish Leasing Provider