Spain: income verification, risk flags and automation to cut manual work and clarify credit decisions

We're strengthening our work in Spain. Creditstar is already live and benefitting from Monthio, and together with Open Banking data connections and a dedicated local contact, Katrine Anna Schmidt, we're well placed to support more Spanish lenders with their creditworthiness assessments. Banks and lenders can move from unstructured documents and manual checks to one consistent, up-to-date applicant overview, with less back-and-forth for applicants and fewer manual steps for credit teams. We use PSD2 and Open Banking only, not screen scraping. Monthio has been live in Spain for over 24 months with customers.‍

Today's workflow in Spain: unstructured documents and manual steps

Many Spanish credit teams still work with PDFs and screenshots of bank statements, pay slips and forms. Files arrive in different formats, often with some pages missing, duplicate lines or scanned images that are hard to read. Numbers are copied into spreadsheets, transactions are categorized manually, and emails and phone calls are needed for clarifications. Compliance then re-checks the same case, and applicants wait.

This process is slow, leaves room for human error, and often causes frustration for both lenders and the applicants.

What lenders gain with Monthio's transaction-based financial overviews

• Income verification: a consistent, review-ready view of income streams and irregularities directly from transaction data, so teams don't need PDFs and other manual documentation from the process. This also supports KYC processes. 
• Risk management with risk flags: highlights the signals in the applicants financial historical behavior that matter. For instance overdraft patterns, gambling, late payments tendencies etc.
• Automation: fewer manual checks and less document collection; shorter handling times without adding systems or complexity.
• Builtfor use: credit teams can work with the overview straight away, and applicants can correct and complete details (add missing items, update figures, attach documents), so the overview reflects their situation accurately.

To sum up Monthio is an end-to-end solution capable of managing the whole application process including the collection of other types of data such as personal information, household and compliance-required KYC. The outcome of implementing Monthio's solution, which also includes a disposable income calculation and insights on cash-flow, is quicker answers, clearer oversight and less back-and-forth for both lending and credit teams and their customers.

Mads Aarup Pedersen, Founder & CEO says: "In Spain our focus is practical outcomes: reliable income verification for KYC, risk flags that surface what matters, and fewer manual steps for teams. In a live demo you'll see transactions become a clear, review-ready overview in seconds. This can be used by credit teams straight away and applicants can, if relevant, make corrections and add information and documentation and complete it so it reflects their situation."

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Open Banking data connections and rollout in Spain

We use Open Banking integrations to ensure reliable data connections across Spanish banks, working with trusted connectivity partners as needed. Monthio then turns transaction data into an up-to-date, ready-to-use overview, including income and spending analysis, normalized categories, and one consistent view per applicant. Rollout is straightforward: the solution fits into existing processes with minimal change management.

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Your contact in Spain

To support lenders locally, we've appointed Katrine Anna Schmidt as Account Executive, Spain (Customer Success & Sales). Over the past three years at Monthio she has worked closely with customers and our solution, helping teams reduce manual steps and make clearer, faster decisions. Fluent in Spanish, and with strong ties to the country, she will support lenders locally through outreach and hands-on follow-up.

Katrine Anna Schmidt, Account Executive, Spain: "My role is straightforward: meet lenders where they are, look at the current PDF-heavy flow, and show how we can verify income from transaction data, surface risks in one view and automate the checks that slow things down. If you'd like a short walk-through, you can reach out to me directly."

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Connect with Katrine

🔗 Katrine Anna Schmidt on LinkedIn

Email: kas@monthio.com