Save your credit advisors valuable time. Our cutting-edge affordability solution reduces underwriting time by 90%. Embrace efficiency, enhance productivity, and make faster, more accurate lending decisions with Monthio. Get started today.
Spend less time processing loans and more time on the things that matter
Increased customer guidance
Automated data collection and analysis reduce loan approval time, allowing credit advisors to focus on other areas of customer support.
Meet current & upcoming regulations
Monthio provides a robust solution for credit advisors to navigate regulatory requirements effortlessly, minimizing the risk of non-compliance.
Decreased 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.
Seamless digital experience
No more burdensome paperwork. With digital income verification, loan applicants experience a seamless digital process, resulting in a high completion rate of 91%.
Enabling personalized customer experiences
Monthio empowers credit advisors to deliver exceptional customer experiences. With accurate insights into borrowers’ unique financial needs, credit advisors can provide tailored loan solutions, personalized advice and proactive support.
Create more trust & loyalty
Monthio enables informed & accurate credit decisions for fair & tailored lending that creates trust and loyalty among borrowers.
Farewell to friction
Hello to seamless mortgage applications
Monthio revolutionizes mortgage applications by leveraging open banking to automate data collection and analysis. This provides lenders with real-time financial insights and enables a seamless and efficient application process for borrowers.
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
“Monthio’s intuitive and well presented dashboard means easier decisioning for our credit team. Monthio is the key to our entire credit rating process.”
Head of credit - Consumer Loan Provider
“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
“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 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 credit 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.
Does open banking help the mortgage approval process?
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.
How do loan applicants benefit from using open banking?
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 banks 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.
Banking FAQs
Ready to get started?
Do you want to find out more about how Monthio can revolutionise your loan approval processes?