Staffology Employee Verification
Staffology Employee Verification simplifies the process of applying for loans, mortgages, and tenancy agreements by removing the manual process of gathering employment and income data.
Improved Efficiency
Details such as employment status, salary, and time with the employer are essential for lenders to process applications quickly and accurately. This basic information is made available to lenders from the payroll system, ready for verification. Lenders can use this data to quickly decide whether to approve the employee’s application.
This process is optional, and the employee gives permission during the application process.
Employees in control
Employees start their applications in the normal way and then consent to verify their employment and income data.
From an employee’s perspective the process could not be simpler.
1.
Employees apply for a mortgage, loan, or other financial application online. When asked to provide evidence of employment and earnings, they are asked if they wish to instantly verify their information via the online service.
2.
If the employee consents, they provide basic details like their National Insurance number, the name of the employer and confirm that they consent to verify their data.
3.
Lenders check these details and if the employee is found within the given employer’s records, the details supplied are then verified in seconds.
Simplified HR processes
Making the application process much simpler speeds up the decision-making process and reduces the time to deliver an answer.
- With Staffology Employee Verification, the administrative burden on HR and Payroll departments is significantly reduced. Employee data is verified during the application process in real-time thereby reducing the time taken to process applications.
- No more employee requests for payslips, P60’s and employment documentation and no need for them to hunt around for the information.
Benefits of Staffology Employee Verification?
Increased efficiency
It removes the need for employers to provide PDF payslips and supporting letters
Time saving
It saves time as data is verified directly to the third-party provider in real-time
Improved employee financial wellbeing
Significantly reduces stress as there is no need for employees to find information. Moreover, affordability checks are conducted using the most up-to-date and accurate data
GDPR compliant
Data is shared under the terms of the General Data Protection Regulations (GDPR) and our trusted partners are authorised and regulated by the Financial Conduct Authority
How do you get access?
Making the application process much simpler speeds up the decision-making process and reduces the time to deliver an answer.
The Staffology Employee Verification service is available in Staffology payroll as standard.
Employers and Payroll Bureaus can choose not to make this service available to their employees or clients. It is possible to opt out of the service from the settings in the payroll product. Employees can rest assured that their data will only be instantly verified if they give consent during the application.
Expect More from Payroll
Overcome manual processes and slowdowns by getting even more out of your payroll.