Equifax has announced a new integration between The Work Number service and Payroll Relief software from IRIS Software Group. Automated employment and income verifications from The Work Number can now be made available to up to one million additional employees of small- and medium-sized businesses (SMBs) in the United States that are served by accountants and payroll service providers who use IRIS Payroll Relief software.
Small businesses account for more than 46% of U.S. private sector employees. When a consumer applies for an important service such as a home mortgage, auto loan or social service benefits, their employer – who is in many cases the owner of an SMB – is called upon to fulfill HR functions such as providing employment and income history. With the new integration between Payroll Relief and The Work Number, those verifications can happen instantly and digitally, even outside of regular business hours, which means a more streamlined process for the consumer, the SMB and the verifier.
The Work Number is a centralized commercial repository of income and employment information in the United States, with access to over 631 million employment records from 2.8 million employers. It is governed by the Fair Credit Reporting Act (FCRA), which requires verifiers – such as lenders or social service agencies – to undergo a thorough credentialing process with Equifax as well as prove they have a legally required, permissible purpose for accessing the information.
The integrated verification service is available now, at no cost to Payroll Relief software clients.
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