Experian Announces New Employer Services Business and Real-time Income and Employment Verification Solution
24 Mayo 2021 - 05:03AM
Business Wire
New Experian services support employers, human
resources, corporate tax and payroll professionals while improving
experiences for consumers and lenders
To support the collective recovery of businesses and consumers,
Experian today announced its expansion into Employer Services and
the release of its new suite of real-time income and employment
verification products, Experian Verify™.
The COVID-19 pandemic amplified lenders’ need for deeper
insights into a consumer’s financial situation. At the same time,
employers, human resources, and tax professionals were flooded with
record-breaking unemployment claims, stay-at-home orders, income
and employment verification fulfillment requests and more.
“We’re committed to helping employers, businesses, lenders, and
consumers on the road to recovery from the pandemic and beyond,”
said Alex Lintner, Group President Experian Consumer Information
Services. “To support this, we’re building two businesses: Experian
Employer Services and Verification Solutions. These businesses will
create meaningful change and provide our clients with competitive
options to achieve their verification needs while helping improve
access to credit for consumers.”
Improving financial outcomes by verifying income and
employment status
Supplementing information from a consumer’s credit report with
income and employment status can create greater opportunities for
consumers while helping lenders extend credit responsibly. Experian
Verify is designed to improve borrowing experiences and support
consumers with limited credit histories by empowering lenders to
verify income and employment status in real-time.
While verification of income and employment is required in
mortgage lending, the practice has become more common across other
types of unsecured lending since the onset of the pandemic.
“The value of verification of income and employment data is
evident across the entire credit cycle,” said Celent’s Senior
Banking Analyst Craig Focardi. “Celent’s perspective on the loan
origination market is that borrower situations are changing and all
types of retail lenders are competing with each other to attract
customers. Experian Verify addresses numerous pain points: customer
service, cost, and competitive issues facing financial
institutions.”
With Experian Verify, lenders can create a more complete picture
of a consumer’s financial situation quickly and easily. The
products provide credit card, personal loan, auto and mortgage
lenders as well as tenant screeners and employment screeners with
near-instant access to tens of millions of active records to verify
an applicant’s income and employment status in origination, account
review and prequalification decisions.
Powered by Experian’s growing network of payroll and proprietary
employer data, lenders have flexible yet secure access to income
and employment records through Experian Verify. With a consumer’s
consent, lenders can request the information from Experian and an
income and employment report can be delivered to lenders through an
API, online Experian dashboard or paired with an Experian credit
report.
Paving the way for industry disruption
Experian’s recent acquisitions of Corporate Cost Control (CCC),
Tax Credit Co. (TCC) and Emptech, and its growing network of direct
payroll access deliver unique and differentiated employee records
into Experian Verify and lay the foundation for the company’s bold
move into employer services.
With all three entities now under one roof, Experian is
unlocking their collective strength to provide employers, HR,
finance and tax professionals with a one-stop-shop to outsource
complex and time-consuming tasks more quickly, cost effectively and
securely. Services provided by Experian include:
- Employment and income verification
- Electronic I-9 verification management
- Work Opportunity Tax Credits (WOTC) management
- Unemployment claims management
- Other tax credits and incentives
“As we begin to recover from the COVID-19 pandemic and employers
are reopening their doors, we’re confident we have assembled the
best-of-the-best to help employers overcome their toughest
challenges. We’re committed to leveraging our combined capabilities
and focus on high-touch customer service to deliver secure,
scalable and transparent services to employers,” said Michele
Bodda, President of Experian Mortgage, Employer Services and
Verification Solutions.
For more information on Experian Verify please visit
www.experian.com/verify. To learn more about Experian’s Employer
Services business visit, please visit
www.experian.com/employer-services.
About Experian
Experian is the world’s leading global information services
company. During life’s big moments — from buying a home or a car to
sending a child to college to growing a business by connecting with
new customers — we empower consumers and our clients to manage
their data with confidence. We help individuals to take financial
control and access financial services, businesses to make smarter
decisions and thrive, lenders to lend more responsibly, and
organizations to prevent identity fraud and crime.
We have 17,800 people operating across 44 countries, and every
day we’re investing in new technologies, talented people and
innovation to help all our clients maximize every opportunity. We
are listed on the London Stock Exchange (EXPN) and are a
constituent of the FTSE 100 Index.
Learn more at www.experianplc.com or visit our global content
hub at our global news blog for the latest news and insights from
the Group.
Experian and the Experian trademarks used herein are trademarks
or registered trademarks of Experian. Other product or company
names mentioned herein are the property of their respective
owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210524005138/en/
Amanda Garofalo
Experian Public Relations 1 714 460 3739
amanda.garofalo@experian.com
Experian (LSE:EXPN)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Experian (LSE:EXPN)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024