Additionally, the repeated cost is unnecessary. The waste of time and resources for both verifier and employee will be tangible. Repeated checks within the current system also incur a heightened risk to the gig-worker giving out Personal Identifiable Information (PII) like Adhaar or PAN.

All of this: concerns around data privacy, personal security, the need for efficiency and speed, and maximization of productivity are leading us toward candidate-owned verification models. We believe that the next phase of the verification market will allow the employee package to include a verified identification record as a substitute for the traditional background check. It could exist alongside (or in place of) the candidate’s resume and references and allow them to control the level of information available to prospective employers or the financial institute.

This type of employee or worker-centric model can be used repeatedly at a much lower cost to everyone. This method is also more reliable because users will be incentivized to ensure they are aware that their data is correct and is easily shareable in a single click, the same way they are interested in keeping their resume up to date or sharing paper payslips. Taking the ownership of income and employment verifications out of the hands of HR teams or expensive vendors, and putting them into the hands of workers, speeds up the hiring and loan decision process, saves your team time, and benefits the bottom line. It also invites younger talent sensitive to data privacy concerns, skeptical of background checks, and likely multitasking on different projects.