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
