Experian has announced a partnership with The Access Group to help more employees digitally share their payroll information and gain better access to financial products and services, including mortgages.
The collaboration will utilise Experian’s Work Report™, the UK’s first digital employment and income verification service, allowing employees paid via Access Group’s payroll software to consent to sharing their payroll information digitally with other organizations.
The service offers an instant and secure alternative for employment and income verification when applying for financial services.
By connecting to an employer’s payroll data, it can confirm a consumer’s gross and net income, employment status, and tenure within seconds. Experian’s employment and income verification services now cover 77% of UK employees.
Paul Speirs, managing director of Digital Consumer Information at Experian, said, “Experian’s Work Report™ helps to ease this pain by providing a seamless, digital alternative to traditional cumbersome processes, helping enable a quicker, more efficient turnaround and improved customer outcomes. We are delighted to be working alongside The Access Group to help take this process one step further into the digital age.”
Charles Butterworth, managing director, Access People, added: “By partnering with Experian, we’re able to provide our customers with even greater digitisation of their payroll processes while their employees keep control of their data and personal finances.”
The partnership helps lift the administrative burden from employees and HR and Payroll teams, reducing the need for paper-based payslips and lowering the carbon footprint of businesses.
