Despite South Africa’s advanced financial institution frameworks and rapid digitisation, income verification still relies on physical documentation. Consumers are required to find, download and e-mail documents at a time when the country faces significant fraud-related crimes. High fraud exposure rates for digital and financial transactions continue to impact credit services and online banking, with more than two-thirds of South Africans targeted by digital fraud attempts in a three-month period in 2025.[1]
Comcorp, a software innovator and specialist in authentication technology solutions, is tackling the issue at its origin by replacing document uploads with real-time, source-verified data. The company’s Secure Data Exchange provides APIs for accessing payslips and bank statements by connecting directly to payroll and banking systems. This eliminates the need for consumers to manually submit documents, while enabling businesses to instantly access verified data.
“We help remove onboarding hurdles by automating the sourcing of documents,” says Daniel Isaacs, Chief Commercial Officer at Comcorp. “The system can pull payslips or bank statements directly from source, whether it’s a payroll provider like Sage, or a customer’s bank.”
The solution helps smooth over the onboarding friction nobody talks about. For credit providers, insurance companies and retailers, slow onboarding costs them business. It also frustrates their customers.
“When customers get stuck in the funnel because they're asked to upload additional documents, many simply abandon the process,” says Isaacs. “People want instant access with minimal admin and hassle, so tedious onboarding procedures tend to alienate them. By enabling straight-through processing, businesses can significantly boost conversion rates, increase revenue and, most importantly, improve customer satisfaction.”
Of course, fraud prevention and mitigation are central to this conversation. The ability to rely on verified income data closes a major gap, which has impacted income verification considerably.
“Preventing application fraud is central to our mission, and direct access to source data is key to achieving this,” says Isaacs. “We’ve seen cases where fraudsters have submitted fraudulent documents that passed initial verification. By working closely with our clients, we stop high-value fraudulent deals from being approved every day, protecting lenders from substantial financial losses.”
In closing, Isaacs emphasises that Comcorp’s data exchange not only improves conversion and turnaround times by returning data in real-time but also significantly reduces fraud. “Our approach to digital income verification lowers fraud risk while enabling companies to better manage customer engagement, affordability checks and verification workflows. We’re building the infrastructure to make the onboarding process faster, safer and fairer, transforming income verification from a back-office task into a powerful competitive advantage.
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