More powerful and accurate income verification with open banking

Belvo Team

Belvo Team Communications


More powerful and accurate income verification with open banking

We focused most of our data science efforts in the last month to iterate on our income verification product based on your feedback. These are the results. 

Our income verification product allows companies to easily obtain an overview of the main attributes of their customers’ income, including income source, type, amount, currency, and changes over time. 

This can help companies speed up underwriting decisions within credit risk assessment models, as it allows them to quickly understand their potential customers’ financial stability and ability to pay.

Accuracy, intelligence, and new metrics

A big part of our data science efforts in the last month has been focused on bringing more accuracy, intelligence, and metrics to this product, to make it as valuable and plug-and-play as possible.

Thanks to this updated income verification product, you will now be able to:

  • Detect accurately more incomes (including less recurrent ones)
  • Access high level overall metrics on your user incomes
  • Dig down into all the distinct income sources of your users

Remember, you can also test and experiment with our income verification product, including these new capabilities, in our sandbox environment

Check out the details of our upgraded income verification product

Other product updates

These are some of the other product updates that we’ve recently launched following your feedback: 

New institution supported in Colombia 🇨🇴

We are constantly working to improve our institution coverage. In the last week, we have focused on Colombia by adding AV Villas and we are in the process of releasing more in the next weeks.

Check out our Colombia coverage

Monthly tax returns in Mexico 🇲🇽

We have recently added support for fetching monthly tax returns from SAT in Mexico. 

Being able to access monthly tax returns is important especially for lenders, as it allows them to get a more recent picture of their customer’s income (both companies and individuals). The most important piece of information that can be extracted from this document is the reported monthly revenue.

Find all details to start accessing monthly tax returns in our fiscal documentation.



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