Income Verification.

DirectID brings you the next generation of income verification using real-time bank data.

The next generation of income verification is here.

1. Real-time data

Our next generation income verification model goes beyond the models of the past, using real-time bank data and six unique algorithms to truly understand an individuals income.

2. True customer insights

Past models produce inferred income from bureau credit data, or Current Account Turn Over profiling. Our model provides true insight and income figures from real-time bank data.

3. Data direct from the bank

We access raw bank data directly from the source, providing a seamless onboarding experience and more accurate income figures calculated specifically for each applicant.

Better lending decisions with real-time bank data.

Deliver seamless customer onboarding.

Deliver improved onboarding experiences without increasing risk by using our calculated income figures. Compare this with customer asserted data to understand if a mistake has been made during their onboarding (like inputting net vs. gross income, or forgetting supplementary pay such as regular overtime) and avoid incorrectly failed assessments.

Drive down operational costs.

Connect to customer bank data and analyse their transactions in seconds allowing; your operational teams to spend less time on the phone to customers, your assessors to spend less time analysing documents, and your credit risk officers or financial crime teams to spend less time investigating potential fraud.

Make responsible lending decisions.

Let us help you truly understand your applicants and remove your reliance on vague income verification results like “looks correct” or “looks close”. DirectID provides a detailed estimated income figure AND a confidence score for every applicant by using real transaction data. 

Verify any customer.

Our income verification solution can verify anyone with an online bank account irrespective of credit history, thin files, new to country status, or simply those who fall into Bureau blind spots. We don’t compare against limited data sets, or prime applicant profiles, we remain financially inclusive by analysing and verifying each individual’s raw bank data.

Packed with features to enable your lending decisions.

Six Algorithms.

Six unique income modelling algorithms are applied against raw bank data to make up our next generation model.

Calculated Income.

We provide a specific income figure for each customer, derived from raw bank data and validated by our six algorithms. 

Confidence Score.

We deliver a confidence score between 1-10 to support our calculated income figure, going beyond vague income match flags.

Multiple Incomes.

Get visibility of incomes from multiple sources, going beyond only those applicants receiving basic salaries.

Benefits Income.

View an applicants income from benefits alongside other income sources, and determine if you wish to consider this in your decisions.

Filterable Incomes.

Our inbuilt filtering tools allow your business to easily view scores for each income source and determine which are used for assessments.

Designed to make your decisions easier.

Supported With 12 Months Data.

Non-income Deposits Excluded.

Monthly Totals Of All Incomes.

Income Stability Indicators.

Income Variance Indicators.

How did we create the next generation of Income Verification?

1) We worked with top lenders, experts & financial institutions to find out what was currently broken.

2) We removed outdated assessment solutions and created a model based on six unique algorithms.

3) We got rid of basic flags like “looks close”, and built a detailed estimated figure with a confidence score.

4) We removed reliance on bureau data allowing any customer with an online bank account to be verified.

5) We went beyond 3 months, supporting recent income with consistency over time.

6) We cut through application fraud by accessing data directly from banks.

7) We created tools that analyse each applicant instead of comparing them to outdated data or prime applicants.

8) We got rid of estimated income based on credit history and instead use real income directly from a customer’s bank data.

How can your business start using Income Verification?

Step 1: Embed Our Widget.

Embed our widget and start instantly requesting your customers to connect. 

Step 2: View via Dashboard.

View income verification results and customer analysis through our visual dashboard.

OR: Access via API.

Use income verification data directly in your instant decisioning engine through our API.

Want to see Income Verification live in action?

We’d love to show you our Income Verification product live with real-time data and talk you through how your business could benefit from it today. If you’re interested then Book A Demo today and our team will be in touch ASAP.

Get even more from Income Verification adding it on to our Data or Insights solutions.

DirectID Insights.

Our Insights dashboard enables businesses to start using real-time bank data to understand customers in less than a week.

Read more

DirectID Data.

Our Data solution allows you to integrate a single API to access all of your customers provided bank data in seconds.

Read more

DirectID Open Banking Software Customer Success Team

Talk to us today and you could be using real-time bank data in less than a week.

When you sign up for one of our services, we don’t just set you up and walk away. Our dedicated customer success team will work with you to make sure you get the most from our products.