The old approach taken by lenders to proving an applicant’s income was to ask for copies of payslips. In today’s online world, that is no longer customer friendly, if it ever was. Using only net pay via screen-scraping is fraught with its own risks. There must be a better way. There is and it’s called Verifier.
Verifier is unique. It provides frictionless, gross pay and employer verification using accurate super guarantee and Single Touch Payroll data.
Verifier’s Income Verification provides fraud protection, gross and net income and employer’s ABN.
Nothing else comes close.
The benefits of using Verifier for lenders are:
Fewer drop outs (the industry average is 30%)
Faster time to loan approval
Username and password integrity
and for customers:
Loan applications are simpler
Applications are faster
Preserves username and password integrity
The solution can be delivered via the online Operations Portal or a full API integrated solution.