Unlock confident income and affordability check decisions
Our world becomes increasingly digital, and this transformation affects most business relationships—a growing number take place online, where your counterpart is initially a complete stranger. This creates specific risks, especially for any type of financial transaction such as lending or BNPL. Robust income check, affordability check, and affordability checking processes are essential to verify customer financial health and build mutual trust in a digital environment.
Know your customer – and his financial behaviour
Real-time affordability check and income check
Leverage real-time financial data analytics in combination with automated income verification for effective affordability checking and income check processes.
With Qwist, you unlock confident affordability check and income check decisions — ensuring tailored financial solutions for your customers by harnessing advanced data analytics, automated income verification, and modern categorisation & enrichment techniques.
These capabilities enable precise disposable income calculations and provide accurate estimates of whether sufficient funds will remain at the end of the month.
Further benefits include streamlined regulatory compliance, enhanced risk assessment in credit and lending, lower operational costs, and minimized fraud risks through secure, GDPR-compliant affordability checking that respects customer privacy.
Elevate your customer experience with rapid, data-driven insights, resulting in faster onboarding and higher conversion rates for every affordability check and income check.
Available in the following countries:
Germany
Austria
Iberia
200+
Happy customers
700h
Resources and time saved working with us in average
3,000+
connected financial Institutions
Common pain points for lenders and BNPL providers
Nobody wants to annoy customers with time-intensive processes for checking and verifying income and expenses. But: on the other hand, lenders and BNPL providers are keen to minimise their risks. The most common problems in this field are:
Inaccurate assessment of financial health:
Without real-time access to financial data, businesses often rely on outdated or self-reported customer information, which can be inaccurate and lead to poor lending decisions.
Time-consuming verification processes:
Manually checking and verifying income and expenses is a time-intensive process, leading to delays in decision-making and a poor customer experience.
Fraud and misrepresentation risks:
The risk of income misrepresentation or fraudulent documentation is high when relying on traditional verification methods, posing significant risks to the business.
Complexity in understanding financial data:
Financial data can often be complex and unstructured, making it difficult for businesses to categorize and interpret this information accurately, leading to suboptimal assessment of a customer’s financial situation.
Successfully utilising data treasures within customers’ financial data
Find out more about our solutions Disposable Income Verification, Financial Transaction Data and Categorisation.
What the Qwist solutions can do for you
Why Qwist
- Enhanced Financial Insights
Gain a holistic view of a customer’s financial health by accessing their income sources, expenses, and financial commitments. Our solutions provide detailed insights into an individual’s financial capacity, enabling informed decision-making. - Real-time Assessments
Leverage real-time data to assess an individual’s affordability accurately. By considering up-to-the-minute income streams and expenses, financial institutions can confidently determine a customer’s eligibility for loans, mortgages, and other financial products. - Enhanced Decision Speed
Accelerate your lending operations with our solution’s rapid income and affordability evaluations, reducing processing time and ensuring prompt, well-informed lending decisions.
