Credit, Collections & Insolvency News
Global payroll technology specialist, Sage has announced a partnership with Equifax that will automate financial and employment checks for UK workers when they apply for everything from loans and mortgages to new jobs.
The service is made possible by a new integration between Sage payroll software and Verification Exchange™ from Equifax.
With life admin tasks, or essential day-to-day activities, taking up to 13 days a year, UK consumers stand to benefit from this partnership that improves efficiency and reduce their administrative burdens.
For example, when applying for personal finance or jobs, consumers usually need to gather and provide documents that verify employment status and, in some cases, income level information as part of the application process. Equifax and its partnership with Sage help improve the process by automating the employment and income verifications that lenders and employers require, while reducing the administrative burden on the consumer.
Rudy Ploder, President, Equifax Workforce Solutions, said “We’re proud to partner with Sage to help UK consumers have a more seamless experience when it comes to important life events such as buying a home, leasing a car, or starting a new job. It’s all part of our Equifax company purpose – to help people live their financial best.”
Aaron Harris, CTO, Sage said “At Sage, we’re focussed on harnessing technology and data to make life easier for everyone by automating time-consuming processes, reducing admin, and speeding up decision-making. Today, our software is used to pay more than 40% of private sector employers. This, along with our deep experience and insights, means we can remove the friction in verification checks between consumers and third parties, providing more streamlined and accurate access to credit.”