Learning Labs

How our Verification Solutions work

Read more to learn how Konfir uses data from HMRC, Payroll platforms, and Bank accounts to deliver instant employment and income verifications

While we all know that traditional verification processes for employment and income are broken, data always helps to tell a story and paint a picture of how things are and could be.

That’s why, when Konfir started, we looked at a sample set of 101,000 traditional pre-employment references to identify some of the common issues in the traditional employment and income verification process.

What the data told us was that:

  • Out of 101,000 reference requests sent, only 40,000 (61%) were ever returned
  • Among the references that were returned, 65% contained some level of inaccurate or incomplete information, such as dates only (as opposed to any qualitative information), discrepancies between what is provided by the candidate and the referee, and the requirement for the background checker to access additional information sources to cross-check the data

We quickly learned that, on average, only 33% of verifications were completed according to the “plan.” Most errors were human-based and could be avoided with a more structured and connected process for data collection and comparison.

Finding an instant, automated solution also offers benefits in turnaround time, data security, analytical insights, and ultimately, cost savings.

Hence, Konfir was born, ready to fix the single slowest part of the verification process for people’s life events requiring employment and income verification.

So how exactly do our verification solutions work?

At the start of the process, we provide an optimised user journey, allowing end-users to connect data from sources such as HMRC, Payroll platforms, and Bank accounts.

Once the data is connected, our proprietary Verification Decision Engine begins its work. This collection of AI-powered tools underpins how our platform delivers instant employment and income verifications.

Everything has been designed with efficiency and intelligence in mind, supporting all types of organisations to build automated, market-leading, and cost-effective verification solutions.

Today, the Konfir Decision Engine comprises five key verification components:

1.        Employer Identification

As an industry first, our Decision Engine extracts employer names from Open Banking,

Payroll systems, and HMRC data, ensuring you know exactly where a person has worked for up to the last six years, eliminating the need to manually review raw data from any connected data source.

 

2.        ‍Employment Verification of Current & Historical Employment

We instantly verify employment attributes from current and previous employments, including dates of employment, employer name, and job titles. Our models combine data from multiple sources to ensure high levels of accuracy and confidence in the data returned.

 

3.        Employment Income verification (if needed for the check)

If the check requires income data, we also verify Employment Income attributes, including Base Pay, Gross Annual Income, Pay frequency, last payment date, and more, to support affordability checks.

4.   Gap in Employment & Alternative Income Verification (if needed for the check)

Using Open Banking & HMRC data, we automatically identify over 60 alternative income types, including all types of benefits, pension income, student loans, and more. This can be used to confirm Gaps in Employment or to support affordability checks.

5.        ‍Verified Identity Attributes

Our clients can also view verified identity attributes on each person, such as National Insurance Number & Full Name, providing an extra layer of security for the verification, ensuring that the employment and income data is linked to the correct individual.

If you have any further questions, do not hesitate to get in touch to request a demo.