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Employment Verification Service (EVS)

Did you know that our new Employment Verification Service (EVS) is now live in your payroll?

 

Signing up for your Sage ID provides secure access to valuable products and services and is your gateway to our latest innovation - the Employment Verification Service (EVS) – a game-changer for loan applications.

 

Employment Verification is when your employer confirms job details and pay information when requested to support with applications for credit – something a credit lender will require in order to authorise a loan.

 

Verifying employment and earnings for a loan can be slow and manual. The employee requests information from their employer who must then gather documents which involves downloading, printing, and sharing information with the employee.  The employee will then share this with the lender.  This process can be time-consuming and stressful, especially when money is needed quickly.

 

EVS streamlines the process, benefiting lenders, employees, and employers by securely automating the process and providing instant employment information.

  

Benefits

For an employee, Employment Verification enables them to consent to share their payslip data safely with a 3rd party credit provider in real-time, securely and efficiently.

It allows the employee to control their data more effectively by only accessing and sharing specific data items for a specific reason. Data is shared directly from the customer’s company payroll, with no need to source and share printed or pdf copies of payslips. This makes an in-person or online application faster and more convenient.

 

For an employer, EVS reduces HR time and effort spent manually responding to employment and income requests. It provides an additional financial wellbeing benefit to their employees to help them accelerate income and employment verification checks – especially outside of work hours.

 

For the service provider, EVS reduces the time required to source, standardise and manually interpret a customer’s payroll data. The customer can now share their data digitally, directly from the source to the Consumer Service Provider. This means no tampering or manipulation can occur and helps the lender make better informed credit decisions. Direct access to payroll data provides additional information on an individual’s employment status - including the verified employer’s name and length of employment tenure which can be used to inform an individual’s credit risk.

 

How do Customers get access to Employment Verification?

The beauty of EVS lies in its simplicity for customers, saving time and making life easier for employees. Plus, it's completely free. For Pastel, VIP Classic, and Premier customers, it's as easy as:

  1. Updating to the latest product version
  2. Signing in or signing up for a Sage ID

Please note that you can opt out of the service if you don’t want to benefit from it - refer to the 'Sage Guide for Employment Verification' for more details.

Download: Sage Guide to Employment Verification.pdf