Teal is Live: How Payroll Data is Transforming Credit Underwriting

Why Credit Decisioning Needs a Rethink

For decades, lenders have relied on static credit scores, self-reported income, and outdated payslip checks to assess borrowers. This system fails in three key ways:

• Incomplete Data: Traditional methods often miss changes in employment status or income, leaving lenders to rely on outdated information.
• Exclusion of Non-Traditional Workers: The modern workforce is diverse, with gig workers, freelancers, and people with multiple income streams. Legacy systems can't keep up, shutting many out of the credit system entirely.
• Operational Friction: Manual processes like payslip uploads and document reviews create unnecessary delays and headaches for both lenders and borrowers.

The result? Slower decisions, higher risk, and a financial ecosystem that too often leaves people behind.

The Power of Real-Time, Verified Payroll Data

We believe that payroll is the source of truth for income. By integrating directly with payroll providers, Teal enables lenders to:

• Access Real-Time Data: Understand a borrower's current income and employment status instantly, not based on a payslip from months ago.
• Verify Affordability Dynamically: Move beyond one-time checks and static scores to build a more holistic, up-to-date view of each borrower's ability to repay.
• Serve the Modern Workforce: Whether someone is salaried, a freelancer, or working multiple jobs, Teal's data infrastructure captures income where it actually happens.

How Teal Is Changing the Game

Teal is more than an API. It's the data infrastructure layer that finally makes income verification fast, accurate, and inclusive. Here's how:

• Direct Payroll Integrations: We connect with payroll providers to access source-level data, giving lenders confidence that the data is accurate and up to date.
• User Consent Built-In: Individuals remain in control, sharing their data securely and transparently, essential for trust and compliance.
• Modular and Flexible: Teal's API is designed to fit seamlessly into lenders' existing workflows, enabling faster deployment and easier integration with other systems.

The Future of Credit Decisioning Starts Now

With Teal now live in the UK, we're excited to help lenders move beyond outdated, incomplete income verification. It's time for credit decisioning that matches the way people really work and live.

By anchoring decisions in real-time, verified payroll data, Teal is laying the foundation for a fairer, faster, and more inclusive financial ecosystem, where opportunity is open to everyone.