Equifax Inc. announced that Fiserv, a leading global provider of financial services technology solutions, has built an interface between The Work Number®, provided by Equifax Workforce Solutions and Fiserv’s Automotive Loan Origination System.
Together, the solutions provide faster and more robust income and employment verifications to customers. Refreshed each pay period, The Work Number® is the largest database of income and employment information provided directly from employers and includes records from more than 75% of the Fortune 500 companies, including an increasing number of medium-to small-sized employers.
About: Fiserv is one of the industry’s top providers of auto loan origination and servicing systems, completing upwards of 5 million originations on 18 million credit applications on its Automotive Loan Origination System last year alone. The connection to the Equifax database can allow lenders to secure income and employment data in seconds and help approve loans quicker and limit stipulations.
Charles Sutherland, vice president, Product Management & Strategy, Lending Solutions at Fiserv, said of the integration, “After surveying the market for a proven partner, it became evident that The Work Number® met all of our success criteria.” Charles continued, “Together, these two applications aim to improve the speed and accuracy of consumer originations.”
Source: Equifax Press Release