Digital Bank Statements

Welcome to the Digital Bank Statements Guide

This feature allows for the digital import of a client's bank statement directly from their bank, streamlining the loan application process.

Powered by Gathr (Finch Technologies), our trusted third-party integration partner, it ensures secure and efficient retrieval of bank statements.

Mobiloan relies on Finch Technologies to communicate directly with banks, fetching and updating the raw bank account and customer details.

It automatically finds or creates bank statements, retrieves transactions, and uploads the relevant data. Mobiloan then organizes this information into a digital bank statement format, where transactions and PDF files are easily accessible.

This feature enhances security by eliminating the need for clients to carry around printed bank statements.

It also saves time by importing bank transactions directly into Mobiloan, making it easier to assess loan applicationss

Getting Started - Methods of Importing Bank Transactions

During the Loan Origination Process, in the Affordability Assessment - select the "Get Digital Bank Statements" option.

Note that this workflow is aloso applicable outside of the Origination Workflow

If you have not already created the bank account to choose from - select the "Add New" button

Once the bank account is added, choose the account from the table and click the "Select Bank Account" option.

A table of processed bank statements will appear empty for the newly created bank account. Here, you will see a history of bank statement inquiries made for this account. To begin the process, click the "New Digital Statement" button.

Choose the appropriate statement source from the pop-up menu.

Upload bank statement PDF file

Once this option is selected - an Upload Dialog will pop-up. Simply tap the the "Select File" button to upload the bank statement.

However, this will require the client to share the PDF file with you to your device's local storage. For convenience, we still recommend the second option—receiving the email with the attached file.

Once you've selected the bank statement - select the "Upload Button".

You should then view a new entry on th eprocessed Statements table :

Select the table entry to view th eimported transactions or view the digital bank statement pdf

Receive as Email attachment file

Choosing this option requires the client to send their bank statement to the authorized shared email address (usually ending with @getmydoc).

This method is especially helpful when client application queues are long and you want to prepare the client's bank statement in advance. Simply provide the waiting clients with a shared email address and ask them to send their digital PDF bank statement to that address.

Be sure to request that they include their ID number in the subject line of the email for easy identification and to streamline the process of creating the client profile on Mobiloan.

If the pdf contains a scanned image - and the image quality is too poor to determine the validity of the document- Gathr will not accept the bank statement.

Once the email is received, a Gathr Bank Statement inquiry is triggered, initiating a series of batch operations. These operations include performing a bank statement fraud check, creating or updating the Mobiloan bank statements and account, and attaching the statement and transaction details to the client’s profile.

Finally, the bank transactions are imported directly onto the client's profile for further processing.

Download Using Online Banking

When selecting this option, the client will be prompted to enter their online banking login details in the dialog that appears. If the credentials are correct, Finch will retrieve the latest bank statement directly from the online banking service.

If a client is unable to complete the authorization process in person, or if they prefer to use their smartphone for easier access to their bank account, you can share the login link via SMS using the button below. Mobiloan enables users to send an SMS link to the client, which directs them to the login page where they can approve the authorization remotely.

If a client is unable to complete the authorization process in person, or if they prefer to use their smartphone for easier access to their bank account, you can share the login link via SMS using the button below. Mobiloan enables users to send an SMS link to the client, which directs them to the login page where they can approve the authorization remotely.

Download using USSD Authorization

USSD is commonly used for quick and secure authorizations, particularly in areas without mobile data or when a fast and simple process is required. This method allows clients to authenticate and grant Mobiloan access to their bank statements using a USSD code.

Here’s how it typically works:

1. Enter the client’s account number and cellphone number in the dialog box displayed.

2. Click the "Next" button.

3. The client will then follow the prompts to approve or authorize the requested action. This usually involves dialing the provided USSD code displayed on the next screen and following the prompts using the cellphone’s dial pad.

4. Confirmation: Once completed, grant consent and click the "Check" button. If authentication is successful, Mobiloan will import the client’s most recent bank transactions from their latest bank statement. The statement is then converted into a digital version and automatically stored in the client’s profile.

If the client is unable to complete the authorization process in person or prefers to use their smartphone for easier access to their bank account, you can share the login link via SMS using the button below. Mobiloan allows users to send an SMS link to the client, directing them to the login page where they can approve the authorization remotely.