Okra allows you to retrieve a full income profile for an individual across all banks in Nigeria —complementing your business’s KYC and hiring processes.
Our income model seeks to calculate users’ credit transactions that can be considered as income - considering that some credits don’t necessarily belong to the user (the money paid in might be for someone else), or could be an outlier (very different from what a user normally receives).
We use different parameters to calculate income and they differ for the different kinds of income models we have:
- Salary: a fixed amount of money clearly paid into your account by a registered Nigerian company.
- Recurring incomes: This isn't necessarily salaries, it could be monthly passive returns from investments and businesses.
- Our Income model tracks quarterly, bi-quarterly, and yearly recurrent inflow.
- Unstructured income: This type is for those who don’t have a fixed amount of recurring inflow. Small business owners such as butchers, cobblers, and market women belong to this category.
Our model comes with a confidence score that calculates how much of a person’s monthly inflow is (was) flagged as income.
Note- Combine Guarantors to give you extra security and shared liability before approving a disbursement or service.
Income information can protect banks, digital services, and end-users. Use the Okra Widget to instantly authenticate your customer's account and retrieve a real-time income profile with the following key details.
Whether it’s day laborer earnings, salary, and pension, or an uncle who provides monthly aid, Okra makes it easy to understand all the structured and unstructured sources of income of your customer.
Income provides a wealth of opportunity in KYC validation.
Understanding a user’s current and past earning history over a 3 to 24 month period can unlock critical eligibility information like employment verification, spending patterns, and power. These can all be used to unlock vital eligibility use cases like disbursement amounts, product recommendations, payment tenures, and more.
🚀Now that you understand what Income is, check out API Reference to see how Income works
Updated 20 days ago
View the Income and Revenue Schema or start playing around with the endpoints.