Mistho provides a global Payroll API that enables secure access to income and employment records for over half a billion consumers, utilizing standard JSON output and military-grade encryption. This technology streamlines income verification processes, enhancing user experience while reducing fraud and implementation time for financial institutions.
Funding
$3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Financial institutions face challenges in efficiently and securely verifying consumer income and employment data, often relying on manual processes that are slow, costly, and prone to fraud. Existing solutions may lack comprehensive global coverage and standardized data formats, leading to integration complexities and delays.
Solution
Mistho provides a global Payroll API that enables financial institutions to securely access consumer income and employment records from various sources through a single integration. The platform standardizes data into a consistent JSON format, streamlining income verification processes and reducing implementation time. By acting as a Data Transfer Agent, Mistho ensures user privacy and data security, without aggregating or reselling consumer data. The API employs session-based verification, avoiding the storage of user login details and offering a one-time access approach for enhanced security.
Target Audience
The primary target audience includes financial institutions, fintech companies, and other organizations that require efficient and secure income and employment verification for processes such as loan applications, credit checks, and KYC/AML compliance.
Features
- Global coverage, providing access to income and employment records for over half a billion consumers.
- Standardized JSON output for easy integration and data consumption.
- Secure data storage with RSA 4096 encryption and SHA-256 signing, powered by AWS KMS.
- Session-based verification process that avoids storing user login details.
- Front-end module for provider search, self-service login, and data verification.
- Sandbox environment for developers to test and integrate the API.
- GDPR compliance and ISO 27001 certification.