By Erin Graves
A slow and fragmented loan process can impact loan decisioning and your customer’s experience. Let The Work Number® and Network Verification Services help deliver verification solutions in one place.
Equifax Workforce Solutions provides access to a full suite of verification options that enable the one-stop-shop for which lenders are looking. Users will soon notice a change in the name of the Manual/Researched Verification service provided by Equifax Workforce Solutions. Effective January 1, 2023, Manual/Researched Verifications will be known as Network Verification Services. The new name reflects the investments that have been made to harness smart technology workflow designs to help deliver results quickly and efficiently.
Verifications from Network Verification Services complement the instant service provided by The Work Number, the industry-leading centralized commercial source of income and employment information in the U.S. When information is not digitally available through The Work Number, Network Verifications provide a second opportunity to obtain verification results.
Through Network Verifications, lenders can take advantage of Priority Next Day™ and Priority Two Day™ offerings that deliver low-risk, high-value solutions by only charging customers for a completed Priority order. Priority Next Day and Priority Two Day orders aim to fulfill the request by 11:59 p.m. Central time the next business day and the second business day, respectively.
Priority Next Day Solutions deliver results on 50% of orders within two hours,* and over 70% of orders have results by the next business days.** Customers may also use the hassle-free opt-in feature at order origination to automatically convert a Priority order to the Standard offering at Standard pricing if the order is not fulfilled within the designated Priority time frame. This comprehensive coverage ensures customers can obtain their verification answers in one convenient place.
Stop searching all over for the verification information you need. You can obtain your verifications quickly and in one convenient place, making Equifax Workforce Solutions your verification resource of choice.
*Based on internal Equifax tracking from Oct. 2021-Feb. 2022
**Based on internal Equifax tracking from Jan. 2022-June 2022