Ending the Year with a Groundbreaking Product Update: Introducing VOIE!
As we wrap up this year, we’re thrilled to announce our latest innovation— Verification of Income and Employment (VOIE). This unique solution simplifies user onboarding in lending by providing three flexible methods for verifying both income and employment in a single, seamless journey.
Get in touch with us to know how it works.
How VOIE Works?
Ways for Employment Verification
1️⃣ Phone Number: Extracts employer information using a simple OTP-based process.
2️⃣ Work Email: Confirms employer details through email domain validation and OTP verification.
3️⃣ Payroll Login: Retrieves employment details via HRMS login.
Ways for Income Verification
1️⃣ Payslip OCR: Extracts income, designation and all other relevant details. It also adds a second layer of validation with extracted UAN and PAN verification via government sources.
2️⃣ Payroll Sync: Fetches income details through encrypted and secure HRMS login.
3️⃣ Bank Statement Analyser: Analyses uploaded bank statements to extract income data accurately.
Why is VOIE a Game-Changer?
Traditional credit assessments often overlook users without credit scores, limiting access to financial opportunities. VOIE acts as a proxy for credit scores, offering lenders a new, innovative way to assess credit risk. With multiple verification methods, it reduces user drop-offs, enabling a smoother onboarding experience.
Key Use Cases
Secured and Unsecured Lending: Provides alternative data to assess creditworthiness, especially for new-to-credit users.
Employee Background Verification: Simplifies pre-hiring checks for employers.
Matrimonial and Dating Platforms: Ensures user trust by verifying income and employment details.
Seamless Integration
VOIE is designed for easy and rapid adoption. Clients can integrate the solution into their existing workflows in just a single day through:
API Integration: A flexible option to directly embed VOIE capabilities into existing platforms.
SDK Integration: A quick plug-and-play method for seamless integration without heavy development efforts.
Looking Ahead
Credit risk assessment must evolve beyond traditional methods to enhance financial inclusivity and improve loan eligibility. With VOIE, we’re paving the way for smarter, faster, and more inclusive credit decisioning.
Ready to experience the future of income and employment verification? Request a Demo today!
