IRIS Employee Verification
IRIS Employee Verification simplifies the process of applying for loans, mortgages, and tenancy agreements by removing the manual process of gathering employment and income data.
Simplify Processes for a Happier Workforce and HR Team
Our payroll solutions include a feature called Employee Verification, enabling employees to give permission to lenders to access key details like employment status, salary, and time with employer. This streamlined process accelerates applications such as buying a house or financing a car. Without this feature, searching for this information can be time consuming for employees and burdensome for HR teams when they come to you for assistance. With our software, we ensure a smooth process for all involved.
How Does It Work? Put Your Employees in Control
From an employer’s perspective, the process couldn’t be simpler—you don’t need to do anything.
Employees initiate their applications as usual and can choose to verify their employment and income data. Take a look at how it works:
When employees apply for a mortgage, loan, or other financial application requiring proof of employment and earnings, they will be asked if they wish to verify their details instantly using Employee Verification
If the employee consents, they provide basic details like their National Insurance number, the name of the employer and confirm that they consent to data verification
Employee Verification swiftly confirms the provided details against the employer’s records, completing the verification process within seconds
Benefits of IRIS Employee Verification?
Increased efficiency
It removes the need for employers to provide PDF payslips and supporting letters
Time saving
It saves time as data is verified directly to the third-party provider in real-time
Improved employee financial wellbeing
Eliminates the need for employees to search for information, ensuring affordability checks use the most accurate data
GDPR compliant
Data is shared under the terms of the General Data Protection Regulations (GDPR) and the partners we use are authorised and regulated by the Financial Conduct Authority
How do you get access
Making the application process much simpler speeds up the decision-making process and reduces the time to deliver an answer.
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The service is included in all our payroll products as a standard feature. No sign-up process is required—customers are automatically opted in, with an easy self-service option to opt out from within the product.
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Employee income information is securely stored by IRIS and never leaves the system. Verification occurs only after the employee consents to share their data with a third party.
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Data is securely stored within the IRIS Microsoft Azure Cloud environment.
