Experian announces partnership with The Access Group

The partnership lifts an administrative burden from employees, who chase employers for copies of their payslips; and from HR and Payroll, who have to find and share the data with employees. 

It also helps employers avoid having to share paper-based payslips, which reduces their carbon footprint.

A recent survey of 230 HR and payroll professionals shows that many large organisations receive an average of 150 requests a month from employees to source and share their payroll data, equating to 11 hours a month.

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Through Experian’s Work Report™, employees who are paid using Access Group’s payroll software will now have the option to consent to share their payroll information with another organisation digitally - providing an instant and secure alternative for employment and income verification when applying for a range of financial services.

Applicants are given the option to upload evidence manually via a lender’s existing systems or to use Work Report. 

The service allows them to automatically access – with an employee’s consent - the required records from their employer and passes them to the service provider. 

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By allowing connectivity to an employer’s payroll data, it can provide direct confirmation of a consumer’s gross and net income, as well as employment status and tenure, in a matter of seconds.

Experian’s employment and income verification services now cover 77% of UK employees.
 
Paul Speirs, Managing Director of Digital Consumer Information at Experian, said: “Accessing financial products and services is stressful enough without the added pressure of gathering crucial documentation to help confirm payroll information. It’s a hassle for the financial provider, the employer and, most importantly, the applicant.
 
“Experian’s Work Report™ helps to ease this pain by providing a seamless, digital alternative to traditionally cumbersome processes, helping enable a quicker, more efficient turnaround and improved customer outcomes. 

"We are delighted to be working alongside The Access Group to help take this process one step further into the digital age.”

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Charles Butterworth, Managing Director of Access People, said: “Supporting customers with digital transformation is at the heart of our software solutions at Access.  

"Paying people right ‘first time, every time’ is the standard by which payroll teams are now held to, but it is no longer the only benchmark. 

"With Millennials and Gen-Z making up a significant percentage of the workforce, people have come to expect a consumer-grade experience from their work tech, including solutions that facilitate pay. Unlocking digital-first experiences that meet these changing employee expectations is, therefore, increasingly important to our customers and their people.

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“By partnering with Experian, we’re able to provide our customers with even greater digitisation of their payroll processes while their employees keep control of their data and personal finances."