Finmo AI income verification helps streamline your document review by analyzing selected income documents and bringing the results directly into the application. It can flag items that may need your attention, such as outdated employment letters, missing documents, or discrepancies in reported income.
Before you can start using AI income verification, the feature must first be enabled for your team by your team administrator.
How do I turn on AI income verification for my team? (team admins only)
1. Click on the gear icon on the left menu to access Team settings
2. Select Finmo AI
3. Turn the toggle to Yes under Enable income verification
4. Click on Save changes
How it works
When income verification is enabled, each member of your team can run a verification on any deal. Finmo AI analyzes the borrower's income documents to verify income sources and flag potential risks. Results are available directly on the deal's income verification page. If a borrower updates or adds documents, the verification can be re-run on the same deal at no additional cost.
Note: Income verification currently supports salaried, hourly, pension and benefit income. Support for business-for-self income is in development. Reports are AI-generated and may occasionally contain errors, so review each report before relying on it. Use of the feature is subject to the beta services terms.
Additional resources
Should you have questions please click on the chat button in Finmo or email support@finmo.ca.