Income and Employment Verification Solution, The Work Number®, Expands Reach with Integration into Digital Matrix Systems, Inc. Platform
Equifax Inc. (NYSE:EFX), a global information solutions provider, announced today that Digital Matrix Systems (DMS), a leading risk management solution provider, has established connectivity to The Work Number® to provide income and employment verifications to DMS clients. Equifax Workforce Solutions, a business unit of Equifax, provides The Work Number®. Refreshed each pay period, The Work Number® is the largest database of income and employment information provided directly from employers. Records from more than 75% of the Fortune 500 companies are included, as well as records from an increasing number of medium-to small-sized employers.
Verifying income and employment can allow lenders to minimize exposure to fraud. Leveraging data from third party sources for proof of income can streamline the overall process, resulting in improved efficiency. Access to The Work Number® data will be available through Data Access Point™ by DMS, a cutting-edge connectivity hub that offers clients flexibility when using both traditional and alternative data sources.
“Our income and employment verification solution rounds out the DMS offering by enabling instant access to data that can help their clients reach business decisions faster,” said Scott Collins, senior vice president of Equifax Verification Services. “Being in a position to have a more comprehensive view of a consumer’s credit profile will help give these lenders greater confidence around credit risk and their customers’ ability to repay.”
“We continually survey the market and work with our partners to evaluate new data sources for our clients, and the addition of The Work Number® will allow us to provide access to a unique and beneficial data set,” said David Graves, DMS executive vice president. “DMS and Equifax share a mutual goal — to improve the speed and accuracy of consumer originations.”
Equifax powers the financial future of individuals and organizations around the world. Using the combined strength of unique trusted data, technology and innovative analytics, Equifax has grown from a consumer credit company into a leading provider of insights and knowledge that helps its customers make informed decisions. The company organizes, assimilates and analyzes data on more than 820 million consumers and more than 91 million businesses worldwide, and its databases include employee data contributed from more than 6,600 employers.
Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor’s (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 9,400 employees worldwide.
Some noteworthy achievements for the company include: Ranked 13 on the American Banker FinTech Forward list (2015); named a Top Technology Provider on the FinTech 100 list (2004-2015); named an InformationWeek Elite 100 Winner (2014-2015); named a Top Workplace by Atlanta Journal Constitution (2013-2015); named one of Fortune’s World’s Most Admired Companies (2011-2015); named one of Forbes’ World’s 100 Most Innovative Companies (2015). For more information, visit www.equifax.com/business or www.equifax.com.
About Digital Matrix Systems, Inc.
Founded in 1982, DMS is an international risk management solution provider that helps clients leverage the power of data to make better-informed decisions. Through an integrated product suite, DMS delivers secure access to consumer and commercial credit bureaus, as well as specialty data providers. As a reliable partner, DMS helps leading companies predict and manage risk in a variety of industries, including financial services, insurance, and brokerage services. The company provides data warehousing, advanced analytics, scoring models, and comprehensive consulting services, delivering strategic solutions tailored to each client’s business goals. For more information, visit www.dms.net.