Skip to main content

TransUnion Introduces Simplified Income And Employment Verification Process

Nov 02, 2020
TransUnion launched its CreditVision Acute Relief Suite to assist lenders and insurers in supporting consumers, while still managing risk within their portfolio
Director of Events

TransUnion introduced its real-time service for lenders and other businesses to access verified income and employment data.

The TransUnion Income and Employment Verification provides lenders and other verifiers easier access to verified income and employment data directly within the credit report, according to a press release. With the update, there is no need for separate integration efforts and according to TransUnion, this process reduces cost and improves the consumer experience.

"The economic downturn and rising unemployment mean that financial institutions and other organizations are seeking a more complete picture of the consumer as part of their acquisition and risk mitigation strategies," said Tim Martin, chief global solutions officer at TransUnion. "The current process is cumbersome as consumers often have to provide their own data, or lenders subscribe to separate processes – which could prohibit or slow consumers from accessing credit products and offers. TransUnion Income and Employment Verification provides a much-needed alternative that improves the overall consumer experience."

According to the release, TransUnion's Income and Employment Verification will initially launch in collaboration with one of the leading payroll providers in the U.S., instantly providing access to tens of millions of active employment records. Data will be updated every pay cycle to provide the most up-to-date consumer employment status and income.

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Nov 02, 2020
More from
Tech
AI And The Mortgage Revolution

Chris Burks, Head Of Growth at Zeitro, on embracing change

Jun 26, 2025
Fed Chairman Aligns More Closely With Trump Admin On Crypto

Powell said he sees ‘change in tone’ around digital assets, expects more crypto activity

Jun 26, 2025
FHFA Chief Orders Fannie And Freddie To Prepare For Crypto In Mortgage Underwriting

In sweeping declaration on social media, FHFA Director William J. Pulte says Fannie Mae and Freddie Mac must begin preparing to count cryptocurrency as an asset in mortgage underwriting

Beware The Latest ‘Long Con’ Scam

Real estate professionals of all kinds warned to beware of crypto scams exploiting ‘trust relationships’ with clients

Jun 23, 2025
ServiceLink Adds Three To Its National Sales Team In Origination Division

Chris Miller, James Lee, and Mandy Powell to help forge new lender partnerships, drive client growth

Jun 23, 2025
“Technology” is a Catch-All Word

Tech promises efficiency, but adoption, ROI, and borrower satisfaction tell a more complex story

Jun 19, 2025