Incomes

The Income product allows you to verify anyone's income in seconds, giving you access to more data for decisions and underwriting. This is especially useful for credit scoring, loans, and even recruitment. Verifiable income from government institutions and payroll platforms is a valuable data point that can help assess a person's credit worthiness.

Using Smile, anyone can share their gig account data with you, so you have income information from alternative income sources to supplement their data. This is especially helpful when targeting the underbanked and gig economy workers.

This information can be used any number of ways:

verifying income data provided by your customer
supplementing current data with information from gig platforms
assessing users' credit worthiness

Combined with our Identity and Employments products, you can build a holistic view of your user, and determine appropriate financial services to offer and provide to them.

Sample Income Data

Income data is typically derived from payroll accounts. It may contain information on the amount earned, the pay period of each payout, and at a minimum, the base amount received.

[{
    "id": "inc-123abc456def789abc123def456abc78",
    "startDate": "2022-07-01",
    "endDate": "2022-07-31",
    "workItem": "Regular employment",
    "employer": "ABC Corporation",
    "frequency": "Monthly",
    "currency": "PHP",
    "baseAmount": 8500,
    "grossAmount": 10000,
    "netAmount": 7820.25,
    "metadata": {
        "createdAt": "2022-09-01T01:44:22Z",
        "sourceId": "a-123abc456def789abc123def456abc78",
        "sourceType": "ACCOUNT",
        "userId": "tenantId-123abc456def789abc123def456abc78",
        "providerId": "abccorp",
        "accountId": "a-123abc456def789abc123def456abc78"
    }
}, {
    "id": "inc-123abc456def789abc123def456abc78",
    "startDate": "2022-06-01",
    "endDate": "2022-06-30",
    "workItem": "Regular employment",
    "employer": "ABC Corporation",
    "frequency": "Monthly",
    "currency": "PHP",
    "baseAmount": 8500,
    "grossAmount": 10000,
    "netAmount": 7820.25,
    "metadata": {
        "createdAt": "2022-09-01T01:44:22Z",
        "sourceId": "a-123abc456def789abc123def456abc78",
        "sourceType": "ACCOUNT",
        "userId": "tenantId-123abc456def789abc123def456abc78",
        "providerId": "abccorp",
        "accountId": "a-123abc456def789abc123def456abc78"
    }
}]

Income Sources

Other than payroll accounts and gig or e-commerce platforms, some income information may also be present from other sources, such as government platforms. Where available, Smile surfaces income information directly from the source, performing basic normalization so you can use the data.

In certain cases, Smile also derives income information from government service contributions and transactions, as well as performing enhanced normalization on the available income data, through its Estimated Income user insight product.

Estimated Income

Where there is limited income information available, Smile can also provide additional derived income information from secondary data types such as government service contributions and transactions.

Based on available historical data, we calculate an estimated monthly income for the user and surface that information via our API, saving you additional computational overhead.

Sample Estimated Income Data

Estimated income is always returned as a monthly amount.

[{
    "id": "einc-123abc456def789abc123def456abc78",
    "month": "2022-07",
    "currency": "PHP",
    "baseAmount": 8500,
    "metadata": {
        "createdAt": "2022-09-01T01:44:18Z",
        "sourceId": "a-123abc456def789abc123def456abc78",
        "sourceType": "ACCOUNT",
        "userId": "tenantId-123abc456def789abc123def456abc78",
        "providerId": "abccorp",
        "accountId": "a-123abc456def789abc123def456abc78"
    }
}, {
    "id": "einc-123abc456def789abc123def456abc78",
    "month": "2022-06",
    "currency": "PHP",
    "baseAmount": 8500,
    "metadata": {
        "createdAt": "2022-09-01T01:44:18Z",
        "sourceId": "a-123abc456def789abc123def456abc78",
        "sourceType": "ACCOUNT",
        "userId": "tenantId-123abc456def789abc123def456abc78",
        "providerId": "abccorp",
        "accountId": "a-123abc456def789abc123def456abc78"
    }
}]

Fallback Methods

If the sources your user provides are not enough, you can also make use of Smile's Archive API to retrieve a user-uploaded payslip document.

Testing Income

Income can be tested in Smile API's Sandbox mode without the need to contact Smile API. See Testing in Sandbox mode for more information. In order to test against live items in Production mode, book a call with us to request access for your account.