Experian and Sikoia have launched a new partnership to streamline and modernise income and employment verification.
By using the customer verification platform’s AI-powered document processing technology as part of its suite of verification services and solutions, Experian can now automate extraction and verification of key customer information directly from submitted documents.
The data and technology company offers a host of verification solutions including payroll data access, automated document processing, the digitisation of payslips, bank statements and tax returns, in addition to access open banking HMRC open data connections.
Experian said the partnership aims to reduce the burden of manual checks by delivering faster and fully automated verification, improve decision-making and the overall experience for lenders, intermediaries and customers alike.
The collaboration builds on Sikoia’s momentum with banks, lenders, brokers and technology providers, following recent partnerships with Tandem Bank, TSB, ENRA Specialist Finance, Mortgage Advice Bureau, Finova, Mast and OMS.
Founder and chief executive officer at Sikoia, Alexis Rog, said: "We believe in offering customers a flexible range of solutions that align with their existing preferences and processes. In many cases, customer-provided documents are required, and data can’t be verified automatically.
"That’s where Sikoia’s technology makes a real difference - bringing AI-powered automation to traditionally manual tasks. We’re excited to partner with Experian to help drive greater efficiency and superior income and employment verification across the industry."
Managing director for credit and verification services at Experian UK&I, David Bates, added: "Experian’s verification platform is driving great value and benefits for both employers and their employees and Sikoia technology will help drive further automation.
"It boosts financial inclusion by reducing barriers and friction in the journey, helping people confirm their income and employment records as fast as possible."
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