The two firms first began collaborating in 2023, when Experian tapped Konfir to gain access to its real-time employment data.

Global financial services firm Experian has acquired UK-based employment and verification platform Konfir to enhance its digital verification capabilities. The financial terms of the deal are undisclosed.

Founded in 2022, Konfir combines open banking, payroll and tax data to give employers, lenders and landlords insights into income and up to six years of employment history.

In a statement announcing the acquisition, Experian states that with Konfir’s capabilities and experienced team on board, it will be able to offer “quicker checks, stronger fraud controls and more efficient operations for clients”.

The new agreement expands on an existing relationship between the two companies, which was first inked in February 2023. Experian adopted Konfir’s tech to gain consented access to real-time employment data, stating at the time it would “benefit all customers looking to do pre-employment checks on prospective employees”.

Later that year, in September, Experian revealed that Konfir was adding its income and employment verification solution, Work Report, to its verification offering. In a statement, Experian claimed that Konfir had become the “first provider in the UK and Ireland to offer employers, with employees consent, direct access to secure employment history information from HR & payroll systems as part of their pre-employment checks”.

Konfir marks Experian’s third acquisition focused on verification and security in recent months. In February, the firm acquired its longstanding partner AtData, an email intelligence fintech. Prior to that, in October last year, Experian purchased KYC360 to bolster its fraud prevention and financial crime compliance capabilities.

About Konfirr

Konfir is a UK-based, Experian-acquired digital platform that provides instant employment and income verification, replacing slow, traditional reference checks. It helps lenders, landlords, and employers verify applicant data in minutes using HMRC, payroll, and open banking data

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market using our unique combination of data, analytics, and software. We also assist millions of people in realizing their financial goals and help them save time and money.

We operate across a range of markets, including financial services, healthcare, automotive, agrifinance, insurance, and many other industry segments.

We invest in talented people and advanced technologies to unlock the power of data and drive innovation. A FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 25,200 people across 33 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

Experian and the Experian marks used herein are trademarks or registered trademarks of Experian and its affiliates. Other product and company names are the property of their respective owners.


Source: fintechfutures.com