Building the Product that Banks and Credit Providers Can Trust

Banks, consumer lenders, auto finance companies and BNPL providers face the same challenge: making faster, more accurate credit decisions while managing risk and giving customers a smooth experience. At Monthio, our product is designed to help them do exactly that -  with a solution they can trust to deliver consistent results.

Building strength in product development

Over the past year, we strengthened our development organisation with new colleagues in engineering, data and UX. Those investments have now settled into a strong, well-run team with a positive and collaborative culture. It’s a team capable of moving fast while keeping the quality high.

The result is a product that supports lenders on several fronts. One example comes from working with a large bank. Their advisors needed a way to reflect an applicant’s future finances more accurately - for instance, when a customer applies for a new mortgage while selling another property. We developed Asset-Linked Expenses, which lets advisors exclude costs tied to assets that will not be part of the customer’s budget going forward (for example, utilities on the property being sold).

This example reflects how we continuously refine the product together with our clients - keeping the user experience simple while handling the complexity in the background.

Complex technology, simple for the user

One of Monthio’s core strengths is transforming unstructured, transaction-level financial data into clear personal financial overviews. For bank advisors and credit risk managers, this means sharper visibility into repayment ability and risk. For applicants, it means an easier process where their creditworthiness is assessed fairly and transparently.

CTO at Monthio Lars Anker Haugaard explains:

“What seems simple on the screen hides a high level of complexity under the hood. We process and interpret thousands of data points to present something that is instantly understandable. That balance - keeping it simple for the user while handling the complexity in the background - is highly valued among our clients and their customers.”

Feedback from the market

This balance is not only noticed internally, but also appreciated externally. Chief Commercial Officer at Monthio Christian Bach Jensen adds:

“When we talk with clients, what we hear again and again is how much they value the clarity of our solution. Advisors and risk managers get the insight they need without drowning in data and documentation demands, and applicants experience a credit process that feels fairer and faster. It’s a rare combination, and it’s something that makes us stand out in the market.”

Sometimes the impact of Monthio’s solution goes beyond what clients expect. As Jesper Jensen, Head of Credit at AL Finans, explains, they weren’t actively looking for a more efficient or advanced decisioning tool. But that was what they gained:

“We initially partnered with Monthio to ensure that we were compliant with the Consumer Loan legislation in Denmark. Implementing the solution has enabled us to process the same amount of loan applications despite the increased requirements. The solution also gives us deeper applicant insight ensuring even more accurate decision making and easier documentation. Even if there was no legislation regarding credit decisioning, we would still partner with Monthio as we see their solution as an invaluable business resource.”

Read the AL Finans case study here

Technology shaped by people

Our development team combines deep technical expertise with diversity of background and perspective. That mix enables us to build a solution that is both solid in its architecture and intuitive for everyday users.

It’s something reflected in external feedback, too. End-users consistently highlight the ease of using Monthio in Trustpilot reviews, praising the clarity of the experience.

Looking ahead

We will continue to make investments in product development in sync with what our clients and the market need - expanding use cases for clients in Denmark while adapting our solution for new markets in Europe. Our ambition is not just to compete locally but to deliver a product that banks, consumer lenders, auto finance companies and BNPL providers across Europe can trust to support them today and in the future.

This is the second article in a short series on how we are strengthening Monthio for our clients. Here, you can read the article "Scaling Monthio to Make Credit Easier for Banks and Credit Providers and Their Customers". 

In the next article in this series, we’ll focus on the other half of the equation: service and delivery. Because even the best product only creates value when it is implemented well and supported by people who know the industry.