NewTech Friday: Mistho - Offering open payroll API for Europe
Maximilian Czymoch is the Co-Founder and CEO of British fintech Mistho.io. He tells us how they enable consumers to easily access and securely share their employment and payroll data with counterparties such as banks, insurers and lenders at the click of a button.
Maximilian Czymoch is the Co-Founder and CEO of British fintech Mistho.io. He tells us how they enable consumers to easily access and securely share their employment and payroll data with counterparties such as banks, insurers and lenders at the click of a button.
What led to the creation of Mistho?
Before Mistho I built a subscription startup for electric bikes and scooters. As part of the service we had to build an underwriting process for our end-consumers and I learned a lot about fraud in all its different varieties. In particular, confirming income and employment was a key challenge for us and despite our efforts it still carried the biggest risk, as we had no 100% reliable way to confirm these details. As a result, we had to build fraud costs into our pricing. Now with Mistho I'm fixing this problem, building a 100% reliable user-permissioned format for income and employment verification.
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