Faster employment income verifications

Proof of employment income is a vital component of the credit assessment process for mortgages, personal loans, credit cards, and more. However, waiting for individuals and employers to provide the required documentation can significantly slow down the process of on-boarding new and better servicing existing customers.

Equifax Verification Exchange^® helps to automate this process. Integrating payroll and employment data in your decisioning workflow will assist in speeding up your customer acquisition, on-boarding and servicing process thus improving your customer’s experience and reducing drop off rates. And, as this process is instantaneous and automated, your internal costs to verify employment income of customers are likely to be reduced. The automated process is also likely to reduce any risk of fraud and human error in verification too.

Our solution is consumer-consent driven and secure, using globally recognised standards in security and data management. Our solution can integrate directly into your digital platforms allowing for immediate response and can provide a simple, secure portal for your officers and agents. 

The Verification Exchange sources data directly from employers, payroll and other service partners who have contracted with us, ensuring their data is up to date and comprehensive. Our employment income report provides details of up to the last 6 pay periods, including a complete breakdown of base pay, bonuses, overtime, and hourly rates, as well as other details of employment where available.