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Income Verification

Quickly and accurately verify customer income to create fairer more robust lending decisions
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Product Overview

We believe Equifax Income Verification provides the most robust income verification process on the market. Identify the correct current account using our extensive data or Open Banking verification services.

Help automate income verification and ditch slow, paper-based processes. From customer acquisition, in-life management and collections our verification service can help:

  • Improve your customer experience
  • Inform your lending decisions
  • Speed up your onboarding
  • Reduce costs
  • Minimise risk
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More Efficient Income Verification with Open Banking

With so many digital transactions, income can be difficult to verify accurately. But, Open Banking verification can help. Review three, six, or 12 months of transaction data to suit your policies. Or tailor the insights for your own affordability criteria.

Correctly verify the income of any customer with an online bank account, even the most complex cases. Including job changes, multiple salaries, variable incomes, and bonuses.

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Key Stats

32 billion
Interactions collected every year¹
1 in 3
Consumers provide income proof with discrepancies²
68%
of consumers have abandoned a financial application³
¹Verify Customer Information brochure, Equifax, 2023
²Money Advice and Pensions service
³Signicat Battle to onboard report 2022

More Efficient Income Verification With Tailored Criteria

Set your own acceptance criteria to match your credit or risk policies. Or, we can help tailor an automated income verification by sector using our granular, flexible, and real-time categorised information.

Get in-depth insight into the consumer's salary, income and expenditure, and turnover. We even cover joint accounts, multiple salaries or ad hoc salaries too. Complex and comprehensive analysis ranks the available evidence to support your decision-making and compliance.

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Connect with our sales team and discover how this product can meet your business needs.

The personal data that you provide via this form will be processed in order to deal with your enquiry and for marketing purposes unless you have opted-out of receiving marketing communications. As a result of this processing, your personal data may be transferred to countries outside of the UK and European Economic Area (EEA). Please see the Equifax Credit Reference and Related Services Privacy Notice for more information about how we will process your personal data.

To access your Personal Credit Report, visit https://www.equifax.co.uk

To query your Personal Credit Report or get help, visit https://help.equifax.co.uk/EquifaxOnlineHelp/s/

To access your business credit report, download our Business Report form and return your completed form to us via post or email using the information provided on the form.

Send an email to our customer service team via hello@equifax.com and we'll get in touch with you directly.

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Speak to our team about how we could help you improve your income verification processes.
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Download Our Product Sheet

Understand how to automate income verification with Open Banking practices.
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