Experian, a global information services company, has announced a new integration with Dark Matter Technologies to enhance the efficiency of income and employment verification for lenders.
Integration with Empower Loan Origination System
The collaboration allows clients using Dark Matter’s Empower loan origination system (LOS) or its Exchange service network to seamlessly leverage Experian Verify™ for instant access to verified income and employment information.
Streamlining Borrower Verification
Experian aims to address lenders’ challenges in verifying income and employment details, providing a smoother and faster experience for borrowers. The integration facilitates a more streamlined process for income and employment verification.
Benefits for Lenders
Experian Verify™ integration with the Empower LOS and Exchange service network enables lenders to verify information quickly without disrupting their existing workflow.
Seamless integration allows lenders to request Experian Verify™ directly from their system of record, eliminating the need for manual entry or navigating external systems.
Cost savings for lenders, as Experian Verify™ charges per report rather than per employment record, offering a more cost-effective solution compared to legacy systems.
Experian is authorized as a report supplier for both government-sponsored enterprises (GSEs), enhancing the credibility and reliability of the income and employment information provided.
Enhanced Decision-Making for Lenders
The integration reinforces Dark Matter’s commitment to providing advanced solutions for clients, enabling faster and more informed lending decisions. Experian Verify™ supports lenders across various stages of the borrower journey, from prequalification to originations and portfolio management.
Trusted Solution in the Financial Industry
Experian Verify™ is trusted by leading financial institutions, including mortgage and auto lenders, card issuers, and fintech companies. Its integration into widely used lending platforms makes it a preferred choice for income and employment verification needs.
Future Focus on Innovation
The collaboration represents a step in Experian’s journey to unlock modern innovations in data and technology for the mortgage industry, emphasizing the importance of continuous advancements in the lending sector.
Source: businesswire.com
