Experian has announced the availability of real-time employment verifications as well as income. The service is aimed at credit or loan providers. The information is said to come directly from employer payroll services. Experian claims to cover over 85% of the US workforce for the service.
John Tsefrikas, Senior Vice President and General Manager of Experian Verification Solutions said they offer multiple verification services that “provide consumers with the best possible experience.”
“Consumers must always consent to sharing their income and employment information with lenders through Experian Verify and, with this new enhancement, we’re helping remove the burden consumers face in providing paper documentation if a lender is unable to obtain this information in a digital and automated fashion.”
The service is “consumer permissioned.” If the information is not available, Experian says it will immediately commence the permissioning process. If it is available, the “Experian Verify” report is provided to the firm in real time.
