Experian: Launches digital verification service for payroll data sharing consent

Experian: Launches digital verification service for payroll data sharing consent

• Experian launches new service to help lenders provide even faster, more accurate, and bespoke lending decisions
• Work Report the first digital verification service that allow consumers to consent to digitally share their payroll information
• It provides connectivity to an employer’s payroll data to provide direct confirmation of a consumer’s gross
• The solution used as part of their affordability and credit checks when a new customer applies for financial products
• It helps to provide a faster, more accurate, lending decision, reduce credit risk and create a better overall digital experience
• The network is growing rapidly, and we expect it to reach 2 in 3 UK consumers by December 2021