Equifax® has announced a new integration between The Work Number® service and Payroll Relief software from IRIS Software Group. Automated employment and income verifications from The Work Number can now be made available to up to one million additional employees of U.S. small- and medium-sized businesses (SMBs) that are served by accountants and payroll service providers who use IRIS Payroll Relief software.
Small businesses account for more than 46 percent of U.S. private sector employees. When a consumer applies for an important service such as a home mortgage, auto loan or social service benefits, their employer – who is in many cases the owner of an SMB – is called upon to fulfill HR functions such as providing employment and income history. With the new integration between Payroll Relief and The Work Number, those verifications can happen instantly and digitally, even outside of regular business hours, which means a more streamlined process for the consumer, the SMB and the verifier.
“Partnering with The Work Number from Equifax demonstrates our dedication to streamlining verification processes and improving the overall experience for our clients,” said Jim Dunham, President and General Manager, IRIS Americas. “By integrating this powerful tool, we are empowering our clients to assist their clients in purchasing their first home, starting a new job, or buying a car.”
“IRIS is one of the U.K.’s largest private software companies, and as they rapidly expand into the Americas we are proud to help them meet the needs of their U.S. customers,” said Joe Muchnick, Senior Vice President of Employer Services and Talent Solutions, Equifax Workforce Solutions. “This integration with IRIS Payroll Relief software further demonstrates our commitment to bringing the benefits of The Work Number to employers of all sizes and their employees.”
The Work Number is the industry-leading centralized commercial repository of income and employment information in the United States, with access to over 631 million employment records from 2.8 million employers. It is governed by the Fair Credit Reporting Act (FCRA), which requires verifiers – such as lenders or social service agencies to undergo a thorough credentialing process with Equifax as well as prove they have a legally required, permissible purpose for accessing the information.