Experian automated income verification expands to half of UK

Experian’s automated employment and income verification services will now cover 50 per cent of UK employees.

The consumer credit reporting business said that the expansion will help broaden UK employees’ access to better financial products and services.

The company's technology automates sharing payroll and employment info with lenders and acts as an alternative for verifying this information when applying for a number of financial services, including mortgages.

It also enables employees to digitally share their payroll information directly from their employer to a bank or other financial service provider.

“People already share their personal financial information to access services digitally – whether that’s applying for a mortgage, starting a new job or renting a property,” said Paul Speirs, managing director of digital consumer information at Experian. “By drawing on the use of payroll data quickly and securely, with consumer consent, we can provide access to better value services and help people make better financial decisions."

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