Whether you're looking for e-commerce financing, property rental screenings or other services, Monthio is your partner for the accurate data you need. By leveraging our solution, you can save time, mitigate risks, and make better credit or suitability decisions.
Better customer insight, smoother business processes
Better customer experience
No more burdensome paperwork. With Monthio your customers experience a seamless digital process, resulting in a high completion rate of 91%.
Save advisors time
Automated data collection and analysis reduce loan or customer approval time, allowing your advisors to focus on other areas of customer support.
Meet current & upcoming regulations
Monthio provides a robust solution for businesses to navigate regulatory requirements effortlessly, minimizing the risk of non-compliance.
Decrease risks
By eliminating manual data input, the chance of human error in the application process decreases, leading to more informed lending decisions and reduced risk exposure.
Enabling personalized customer experiences
With accurate insight into your customers' unique financial profile, you can provide tailored solutions, personalized advice and proactive support.
Better brand reputation
By employing seamless digital customer experiences you'll improve customer loyalty and reputation. Start giving your customers more.
Farewell to friction
Hello to seamless applications
Monthio revolutionizes loan applications and customer suitability by leveraging open banking to automate data collection and analysis. This provides lenders with real-time financial insights and enables a seamless and efficientapplication process for borrowers or renters.
Simple user journey
A quicker response for applicant and advisor
Automated data verification
Seamless upgrades & extensions
Optimized conversion
Decreased drop-off rate with Monthio
Customer-centricity as standard
Your new improved loan process
Transform your customer experience with Monthio's creditworthiness solution. Provide your applicants with lightning-fast loan decisions, a seamless application process, and a user-friendly design, ensuring exceptional experiences that drive customer satisfaction and loyalty.
4 quick steps
A seamless digital experience
Intuitive User Experience (UX)
91% flow completion rate
Live end-user support
Your applicants' queries are taken care of
SET UP FOR SUCCESS
Seamless implementation process
With our decades of credit process experience and dedicated integration support, implementing Monthio into your bank is effortless, across all business areas. Our personalized approach maximizes efficiency and unlocks the full potential of Monthio's solutions for your bank.
Tailored integration process
Our customized integration process perfectly aligns with your business needs
Technical & product support
Take advantage of our deep banking insight & tech expertise for your optimal outcomes
Seamless upgrades
Our feature extensions & product upgrades are ready when you are
"We are excited to be partnering with Monthio, as we are looking to expand into new segments. By providing our customers direct access to not only insightful KYC checks, but also creditworthiness assessments, we can provide a seamless onboarding flow for leasing companies."
Managing Director at Visma - Jacob Tinsfeldt
"We are always looking for ways to optimize the customer experience & I was immediately impressed by how much quicker the financing process was from using Monthio. Instead of manually having to provide paperwork and wait hours, if not days for approval, the data we need comes within seconds."
CEO of Varmeo - Peter Veie Gudmand
"Getting up and running was painless. It was a fast and efficient implementation process."
Danish Leasing Provider
What we offer
Income verification
Get instant verification of applicant income with the latest & most accurate data.
How does open banking work when it comes to loan or customer approval?
Open banking for loan approval involves customers granting consent to share their financial data from various sources, such as bank accounts and credit cards. This allows lenders to access real-time information for a more accurate assessment of their creditworthiness.
What are the benefits of open banking when it comes to loan approval?
The benefits of open banking for loan approval include faster and more efficient loan processing, improved risk assessment from access to more comprehensive financial data, and the ability to offer more personalized loan products and terms based on a borrower's financial profile.
Will my advisors like Open Banking?
Credit advisors generally appreciate open banking as it streamlines the loan approval process, allowing them to make informed decisions and offer personalized guidance to borrowers. It also reduces manual labor and creates more time to focus on other areas of customer success.
How does open banking work when it comes to assessing the financial health of renters?
Open banking can significantly streamline the mortgage approval process by providing lenders with real-time access to an applicant's financial data, enabling quicker and more accurate assessments of their creditworthiness.
What are the benefits of open banking when it comes to assessing the financial health of renters?
Using open banking makes the loan application process seamless and easy for applicants, as it eliminates the need for manual documentation and allows for automatic verification of income and other financial information, resulting in a smoother and more efficient experience.
Are other loan providers or rental businesses using open banking?
Many banks are embracing open banking as a way to enhance their loan approval processes. It has become a widespread practice within the banking industry, with numerous financial institutions adopting open banking technologies and APIs to access customer data securely.
Is open banking secure?
Open banking is designed with robust security measures, incorporating advanced encryption and authentication protocols to safeguard sensitive financial information. Additionally, stringent regulatory frameworks and constant monitoring ensure a secure ecosystem, inspiring trust and confidence in the confidentiality and integrity of user data.
Does company size matter when using open banking?
Company size does matter to some extent when using open banking. Larger organizations may have more complex systems and processes to integrate open banking functionalities, but open banking solutions are scalable and adaptable to different company sizes, allowing both small and large lenders to leverage its benefits.
Who can I speak to at Monthio about open banking?
To speak about open banking at Monthio, you can reach out to our sales department who will be able to give you more information and guidance specific to your needs. We will also be able to share with you examples of how other lenders like yours have taken advantage of Monthio's services.
Other lenders FAQs
Ready to get started?
Do you want to find out more about how Monthio can revolutionize your loan approval processes?