Introducing the Konfir Decision Engine - powered by AI

By Tom McAuliffe

We’re excited to announce the launch of the Konfir Decision Engine, a collection of AI-powered features now underpinning the platform for all existing customers. The Decision Engine is designed with efficiency and intelligence in mind – supporting all types of organisations to build automated, market-leading and cost-effective solutions on top of Konfir’s Employment Timeline. Today, the Konfir Decision Engine comprises four key components:

1. Employer Identification

We just got better at extracting easy-to-interpret employer names from banking data.

  • As an industry first, this newly developed AI engine extracts employer names from banking data by referencing a comprehensive database of employer names from Company House, FCA public records and property datasets.
  • Streamlines the process, reducing reliance on raw banking transaction data for employment identification.

2. Employment Verification

We are also leveraging machine learning technology to identify employment based on income transactions

  • Our data detective algorithm analyses income transactions to identify employment and leverages our Employer Identification Algothirth to return industry standard employer names completed with start and end dates
  • Identified employments are automatically returned via the Employment Timeline, available on the Konsole and via API.

3. Data Unification

We now merge records from multiple sources on the Timeline.

  • Consolidates and merges employment data from all available data sources including payroll, Open Banking, and tax data into a single, robust Employment Record.
  • Uses sophisticated matching algorithms to distinguish unique employment records, minimising duplications.
  • Increases confidence in employment verification by providing multiple corroborating data points and eliminates fraud.
  • Offers access to unified data on the Timeline and via API, always prioritising the most accurate employment attributes based on Konfir models

4. Transaction Cleaner

If you need to review banking data, it just got a whole lot easier.

  • Enhances the overall relevance and clarity of banking data in the context of employment verification
  • Powered by proprietary Machine Learning algorithms, it transforms the way banking transactions can be interpreted via the Konsole or API
  • Groups together transactions from sources, even with varied descriptions, by focusing on payer names or entities paying the candidate.
  • Shifts away from non-descriptive transaction details that previously complicated data review.
  • Drastically reduces the time needed to analyse banking-related activities.

You won’t see the Konfir Decision Engine, but you’ll see its output via the Konsole Timeline or API. We will add and improve upon its capabilities in the coming months as we continue to innovate Employment and Income Verification in the UK.

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