Verification Exchange for Employees

 
Secure access to your employment income information with your permission
 

What is Verification Exchange for Employees?

Speed up the provision of your employment income information. No more long waits for employers to provide this important background information when you apply for a mortgage, personal loan, credit card or other financial service.

Verification Exchange is a secure, automated service that streamlines the movement of information between employers and 3rd party verifiers. Once you give consent, a 3rd party verifier, such as a lender or a financial service provider, can request an employment income verification directly from the exchange.

How it works

Employment income verification in a few quick and easy steps

01.

The Verification Exchange is connected to multiple sources of employment income information

02.

When a credentialed verifier needs proof of your employment income, they contact the Verification Exchange

03.

With your consent, they submit a request for an Employment Income report

04.

Once the report is generated, it will be shared only with the credentialed verifier that you authorised

Verification Exchange follows the privacy by design principle and globally recognised best practices in data security management.

Value for you

Our employment income verification service helps speed up a financial service application process for you by delivering automated and standardised information to 3rd party verifiers. Our secure exchange protects the integrity of your data online and helps mitigate exposure to unauthorised access.

Timely Response

Automated employment income verifications are available instantly where your employers (past and present) use the Verification Exchange. So, you can speed up your applications for mortgages, personal loans, credit cards or other financial services.

Helping you live your financial best

We empower businesses and consumers by providing information that they can trust. A quicker application decision helps reduce the stress associated with obtaining credit or other financial services and supports a consumer’s financial wellbeing.

Accuracy and Recourse

We operate with strict adherence to the Australian Privacy Act. If you wish to dispute any employment income data provided to a 3rd party verifier, you can contact us to confirm the information supplied by your employer. We only use personal information in data supplied by your employer for the limited purposes of delivering our Verification Exchange services as set out in our Terms of use and Collection Statement.  If you still feel the employer’s information is inaccurate, you can then take that up directly with your employer without divulging any further information to us.

Privacy

Feel confident and have control over your personal information. Your permission must be given before a 3rd party verifier can access your employment income information. Designed using best practices in data management, our Verification Exchange service incorporates numerous security measures to protect the collection and transfer of information.

Leadership in security is fundamental to our business. Verification Exchange leverages the Equifax security framework and treats security practices with utmost importance.

Employee data dispute

We link directly to an employer’s payroll data. The quality of our service is contingent upon the quality of an employer’s records. An employer controls its records and is the only party that has authority to make changes to your employee record. We provide an outsourced employment income verification function. We don’t alter information. 

If the accuracy of a record is contended, we will automatically block the record while an employer confirms the record or rectifies any error. Once an employer updates its records, that updated information will feed back into our Verification Exchange service.

Frequently Asked Questions

You can contact the Verification Exchange support team at support.au.ve@equifax.com or 1300 598 889 and provide the required identification information to pass our security checks.

You can contact the Verification Exchange support team at support.au.ve@equifax.com or 1300 598 889, provide the required identification information to pass our security checks. Once we have verified your identity, we can raise a data dispute and check the accuracy of the data we have supplied to the 3rd party verifier against the employer records.

During a dispute period your data will be automatically blocked. In this period, a verification cannot be performed as it may result in partial or incorrect information being sent to a 3rd party verifier.

You can put a block on your data (or un-block your data) by contacting the Verification Exchange support team at support.au.ve@equifax.com or 1300 598 889.

We only access or hold your employment income and history records as supplied by or on behalf of your employer.  And that is only released with your consent.  If you wish to access that information, you can contact the Verification Exchange support team at support.au.ve@equifax.com or 1300 598 889 and provide the required identification information to pass our security checks. Once we have verified your identity, we can provide a copy of all personal information held in Verification Exchange for you within a reasonable period after your request is made and usually within 30 days.

Credentialed Verifier - Equifax undertakes a strict onboarding process to ensure only legitimate organisations are able to use the Verification Exchange for the purpose of employment income verifications with an individual's consent, including but not limited to, an entity that is a registered Australian entity with an Australian Business Number, an entity that is the publisher of a privacy policy that complies with privacy law and an entity that authorises Equifax to act as an intermediary on behalf of an individual to obtain access to that individual’s personal information for the purpose of verifying that individual’s employment income.