Income & affordability assessment

Level up your affordability assessments

Upgrade your application process and build a solid customer portfolio via optimised risk decisioning. Verify customer financial data instantly to avoid delays.

Some industries we serve:

  • Retail banks & consumer finance

  • Challenger banks & online lenders

  • Property rental services, car leasing & gaming

Real-time data to comply with regulations

Assess and validate regular expenses to comply with regulations

Document actual regular expenses to cater to new regulatory creditworthiness guidelines accelerated by EBA and local authorities.

Income & affordability assessment Real-time data
Income & affordability assessment Real-time data
Real-time data to comply with regulations

Assess and validate regular expenses to comply with regulations

Document actual regular expenses to cater to new regulatory creditworthiness guidelines accelerated by EBA and local authorities.

Income & affordability assessment Granular set of data
Granular set of data

Analyse affordability with a granular set of data

Get a granular set of relevant transactions to feed into your affordability assessment and improve your underwriting process.

Income & affordability assessment Granular set of data
Granular set of data

Analyse affordability with a granular set of data

Get a granular set of relevant transactions to feed into your affordability assessment and improve your underwriting process.

Improved end-user experience

Onboard credit customers within minutes (instead of days)

Simplify the application process with pre-filled fields application forms and verified transaction data instead of manual input and paperwork from the applicants.

Income & affordability assessment Improved end-user experience
Income & affordability assessment Improved end-user experience
Improved end-user experience

Onboard credit customers within minutes (instead of days)

Simplify the application process with pre-filled fields application forms and verified transaction data instead of manual input and paperwork from the applicants.

Case study

Bank Norwegian: automated and simplified

Challenge
As they expanded internationally, Bank Norwegian wanted to provide faster, simpler user journeys to their customers. They noticed that loan applications were one of the highest points of friction.

Solution 
Tink’s Income Check lets applicants validate their earnings instantly and securely. Once the applicants choose the loan specifications to apply for, they simply click to verify, choose their bank account, and authenticate.

Built using
Income Check banner
Income Check

Income & affordability assessment Case study
Income & affordability assessment Case study
Case study

Bank Norwegian: automated and simplified

Challenge
As they expanded internationally, Bank Norwegian wanted to provide faster, simpler user journeys to their customers. They noticed that loan applications were one of the highest points of friction.

Solution 
Tink’s Income Check lets applicants validate their earnings instantly and securely. Once the applicants choose the loan specifications to apply for, they simply click to verify, choose their bank account, and authenticate.

Built using
Income Check banner
Income Check

For industry leaders

“Responsible lending is all about granting the correct credit to the private individual that has the means to service the loan without compromising on other expenses. Tools such as those Tink provides for Bank Norwegian is an enabler of data that supports our philosophy as a provider of a pure digital customer journey.”

Peer Timo Andersen-Ulven

CRO at Bank Norwegian

Discover the full story

Increase customer satisfaction and reduce fraud risk

Enable users to apply for your services seamlessly and assess their affordability instantly.

Faster time to money

GF Money reduced application processing time from 2 hours to less than 10 minutes.

Decrease fraud

A significant drop in various first and third-party fraud was seen for customers validating income by transactions instead of payslips.

Increase customer satisfaction

Substantial increase in end-user satisfaction for customers applying Tink’s affordability assessment solutions to their loan application process.

Open banking unlocks inclusive consumer lending

Open banking has the power to simplify and streamline the loan application process, to the benefit of both lenders and consumers.

15%

New consumer research from Tink has revealed that more than 15% of self-employed people in the UK say they have been rejected while trying to secure a mortgage, which is twice as many as the national average (7%).

£303 bn

In the UK alone, sole traders contribute a whopping £303 billion to the economy, highlighting the need for a more tailored, data-driven approach to financial support for the self-employed.

31.8%

New research from Tink has revealed that 31.8% of the participants stated being unable to verify assets or collateral was the most common reason for being unable to assess the applicant's creditworthiness.

Get started with Tink

Contact our team to learn more about what we can help you build – or create an account to get started right away.

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