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Why digital verifications are safer
Across the board, verifications of all types have moved into the digital age, and with good reason. Not only is the process faster and lower cost, but it’s also fundamentally safer. Since launching instant employment verifications in the UK, we’ve seen 80% of candidates opting to connect their Open Banking and Payroll data sources. In light of this notable user buy-in, we’ve outlined some of the core security benefits.
A regulated candidate journey
When a candidate opts to connect their Open Banking data, they’re doing so through a medium that’s FCA regulated. Since their appearance in 2018, Open Banking APIs have required extensive testing, monitoring and approval processes. Although still in relatively early days, the Open Banking ecosystem has more consumer protection in place for candidates than the traditional financial system. For example, Open Banking is strictly opt-in, meaning that consumer data physically cannot be shared without explicit consent. Moreover, that explicit consent is typically confirmed with multi-factor authentication such as Face ID or Touch ID. Digital hiring is also part of a broader landscape focusing on improving consumer protection through the adoption of standards and certifications such as the DCMS’ Trust Framework.
Data minimisation
Under the traditional approach, proving multiple employment or gap periods over several years would require handing over a pile of documents including payslips and bank statements. Instead, when verifying an employment through Konfir, we look to prove the activity took place, without needing to share the underlying data set. Our clients can configure the data requested from candidates in a way that has never been possible before; by aligning what data is needed in line with requirements. You decide whether you need spending data or not, whether you need financial figures (£ amounts) or not, and whether you need income data or not. Gone are the days of redacted bank statements and insecure file sharing via email.
More protection for employers
From a security perspective employers benefit from this approach. Referencing through digital data sources reduces the risk of fraud as physical documents are more easily falsifiable. Going digital also mitigates liability; as we’ve previously outlined, employers increasingly prefer to stick to the facts, as opposed to providing subjective references. Finally, the candidate’s consent becomes clearer too. Why rely on tracking a candidate’s ‘go ahead’ to be contained in an email, physical document, or informal chat, when it can be indefinitely stored in a digital format?
A robust end-to-end journey
Overall the verification process from initiation to completion is now more structured. Both the candidate and their data are led down a clearly defined and technically-secure journey. Previously, loose ends at every stage meant that information was likely to be shared outside of the ‘need to know’ basis, and records were haphazardly stored. Konfir’s journey and storage is hosted on AWS infrastructure, which benefits from world-class security.
All in all, the benefits for all parties are clear. Don’t be left behind as employment verifications move into the digital age. Click the buttons below to get in touch with our team, or try Konfir for yourself.
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