How to use Finmo AI income verification
Review income documents, spot missing information, compare income figures
Finmo AI Income Verification does the heavy lifting for you. It analyzes the documents you select, brings the results directly into the application, and flags anything that may need your attention—like outdated employment letters, missing documents, or discrepancies in reported income.
Spend less time reviewing documents manually and more time focusing on what matters.
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Steps to use AI income verification
1. Review the applicant’s income information
Open the application and go to the Employment history section. Review the employment details and stated income so you have a starting point for comparing the supporting documents.
2. Check the supporting documents
Go to the Documents section on the left menu. Documents uploaded by your client appear in yellow when they’re ready for your review. Click a document to preview it.
Depending on the file, the documents you’re reviewing may include:
A letter of employment
Pay stubs
T4 slips
Notices of Assessment (NOAs)
3. Add documents to Income verification
Next click on Income verification on the left menu.
Click Add from the document request.
Select the documents you want the tool to review.
Add them to the verification.
Click Generate verification.
Note: The analysis typically takes 20–60 seconds, depending on the number of documents and the complexity of the review. None of these documents leave the application, the data is simply analyzed by our AI tool and then deleted.
4. Review the highlights
Once the analysis is complete, the results appear in your application. Start with the highlights to see what may need your attention by going to the Income verification report section.
The tool can flag items such as:
Missing information in a letter of employment
Missing supporting documents, such as a T4
An outdated letter of employment
Year-over-year income differences that may need an explanation
Use these findings to guide your document review and any follow-up with the applicant.
5. Open the detailed analysis
Click Show analysis to look more closely at the income figures and comparisons.
Depending on the documents included, the analysis can show:
Gross year-to-date earnings
Annualized income based on year-to-date earnings or the pay-period rate
Income stated in the letter of employment
Differences between the income figures in the supporting documents
When a file calls for a two-year average, the tool can also help you review income across T4s and NOAs to assess that average.
6. Use the results to support your review
Finmo AI Income Verification helps bring the important details together so you can see what aligns and what needs clarification. Review the findings alongside the original documents and the applicable lender requirements when determining the income to use for the application.
Additional resources
If you have any questions please click on the Finmo help chat bubble or email support@finmo.ca