Chapter 20: Equifax Workforce Solutions (EWS) Non-Mortgage
IN THIS LESSON
Verification of Income (VOI) and Verification of Employment (VOE)
What is it?
Developing a solid understanding of current and past employment and income status is challenging. You need additional context from a clear view of wealth, ability to pay, income history, government program eligibility, and/or risk of delinquency or default to make decisions confidently. Verify customers', prospects', or applicants' details using enhanced, real-time data, and you can benefit from deeper insights.
Verifications provide a variety of benefits
There’s more value to verifications than you might think – throughout the customer or applicant life cycle. Whether you're looking for an ongoing understanding of a customer's financial situation, or you want to segment your audience better, speed up processing to improve the approval experience, or help ensure eligibility for applicants or renewals, Equifax solutions can help.
Verify throughout the Journey, for a variety of reasons
Be aware of customers' financial changes
Better segment your audience
Speed up processing
Improve the approval experience
Ensure applicant or renewal eligibility
More information about Verification of Income
Income and employment verifications product sheet
NOTE: You cannot run a VOI without a VOE, but you can run a VOE without a VOI. (I can verify you are employed without confirming how much you make.)
