Responses to employment and income verification requests are commonplace for those in the HR or payroll department of a business. Not only are these requests time-sensitive, but they are also time-consuming. Until now, the solution to outsourcing verification responses required the laborious process of building a data file from the payroll system and sending that sensitive employee data to a third-party to host in their data warehouse. This not only introduces unnecessary risk (hello, data breach) but is cost-prohibitive for smaller organizations. That’s why we created Verifent. Verifent is a secure, cloud-based solution that keeps employee data safe behind the employer’s firewalls and removes the once necessary data file build. And, to do so, we take a two-prong approach. We call it Data Direct and Data Connect.
Phase 1: Data Direct
Data Direct allows employers to pass along a verification response through our online portal, with no IT implementation effort. To obtain a verification, a verifier (banks, mortgage companies, government agencies, and the like) must first become credentialed. After being validated, verifiers request verifications through the portal, the employer responds through the Verifent application, and then the data is returned through the portal. This approach streamlines the verification process and reduces response times by as much as 60%. In less than 30 minutes, employers can be securely processing verification requests through Verifent’s Data Direct solution.
Phase 2: Data Connect
Data Connect enables employers to keep employee data behind their walls and only release the data elements that are absolutely necessary. This allows employers to fully automate verification responses while retaining control of employee data.
Most of our clients view this approach as a stair-stepped solution, starting immediately with Data Direct and, when the time is right, moving towards Data Connect. All of this enables YOU to easily leverage Verifent, which offers the most compliant and efficient solution to verification requests on the market.
Are you still widdling away time responding to verifications via fax or phone? Are you still handing over a massive amount of employee data to a third-party vendor and exposing your company to data breaches? We’d love to help make your things simpler and safer. Give us a shout. We’re here for you.