Experian has integrated its income and employment verification platform, Experian Verify, with Workday. The move aims to streamline verification processes for Workday customers seeking mortgages, auto loans, and rental housing, by providing real-time access to payroll data.
The integration between Experian and Workday streamlines the income and employment verification process for consumers applying for loans and housing, potentially speeding up financial decisions for millions of U.S. workers.
Experian announced on Thursday that it has integrated its income and employment verification platform, Experian Verify, with Workday. This integration aims to provide Workday customers with real-time verification of income and employment information, streamlining processes for applications such as mortgages, auto loans, and rental housing.
The integration is part of Experian's ongoing effort to expand its Verify network by connecting with payroll providers and employers. Experian stated that the network has the potential to cover more than 80 million payroll records, representing over half of U.S. payroll employees. Real-time access to this data is intended to reduce manual verification steps, which can often cause delays in financial decisions.
Michele Bodda, group president at Experian, highlighted the importance of these verifications for individuals pursuing significant financial milestones. The addition of Workday's payroll data enhances Experian Verify's network, which already includes direct integrations with payroll providers, employer records, and consumer-permissioned verifications.
Nancy Weitl, vice president of HCM product management at Workday, emphasized that the integration will alleviate burdens on HR teams and speed up processes for employees. Workday customers will gain access to this verification capability through Workday Total Benefits, a new solution scheduled for launch in late October.
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