Instant income verification

Get instant verification of applicant income with secure & accurate data from their bank. Farewell to outdated bureau data and paperwork. Hello to confidence in credit.
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Meet regulations
Comply with new & upcoming regulatory requirements effortlessly
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Decreased defaults
Grant more suitable loans with better data & insights
Graphic of smartphone showing the income verification process for assessing creditworthiness when applying for a loan and using Monthio l

The benefits continue

Graphic icon of 2 arrows showing increase in speed of loan applications when you use Monthio for income verification
Speed up
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.
Graphic icon of clock showing decreased paperwork and time spent on loan applications when you use Monthio for income verification
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.
Graphic icon of winding path to represent an optimised customer journey for banks and financial institutions that use Monthio for income verification
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.
Moving graphic of a smartphone including checking data sources and green tick to show data has been accepted

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.

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
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“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
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Income verification FAQs

What are the advantages of digitizing income verification for a bank or credit provider?
How does digitizing income verification benefit lenders in terms of customer experience?
What security measures does Monthio employ to protect sensitive financial data?
How does digitizing income verification with Monthio improve the accuracy of applicant information?
Can Monthio integrate with existing banking systems or platforms?
How does Monthio’s income verification solution expedite loan decision-making for lenders?
Does Monthio offer customizable income verification workflows to suit different lending requirements?
What sets Monthio apart from other income verification providers?
How does Monthio ensure compliance with regulatory requirements during the income verification process?
What are the cost saving associated with digitizing income verification using Monthio?
Ready to get started?
Do you want to find out more about how Monthio can revolutionise your loan approval processes?
Get in touch
Superior Categorization
Our comprehensive categorisation accurately identifies
more data in each section than other leading Open
Banking providers.
Banker-designed. Credit approved
We offer more than just cutting edge technology. We are built on deep banking expertise to create a tailored & powerful solution for credit departments.
End users at the forefront
At Monthio, we put the end users the forefront of our product design. That’s why 91% of applicants that go through the Monthio process, complete it.

Already benefiting from Open Banking?

At Monthio, we go further than Open Banking. Benchmark Monthio against your current provider and see for yourself!

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