The need for a smoother and efficient user onboarding process is critical for businesses across industries. Whether you're a lender, insurer, or employer, verifying an individual’s income and employment is essential for mitigating fraud risks, improving operational efficiency, and building trust. Yet, traditional verification methods often fall short, leading to lengthy processes, user drop-offs, and operational inefficiencies. This is where Tartan's Verification of Income and Employment (VOIE) suite comes in. It offers a comprehensive, user-friendly solution to streamline this process.

The Problem with Traditional Verification Processes

When businesses rely on traditional methods to verify income and employment, they face a number of challenges. Manual checks, slow response times, and a lack of seamless integration lead to a poor user experience and contribute to drop-offs during the onboarding of customers.

Furthermore, the recurring requirement of different verification process or manual verification checks frustrates users and increases operational costs for businesses. Longer wait times, with users stuck on a “verifying” screen for 2-3 minutes, further hinder user experience. This creates a significant need for a solution that not only simplifies the process but also offers multiple options to complete verification smoothly.

Tartan’s Comprehensive VOIE Suite: A Seamless Verification Solution

Tartan’s Verification of Income and Employment (VOIE) suite addresses these challenges head-on. The suite combines a variety of APIs into a single, unified process that allows businesses to verify income and employment quickly and efficiently. The suite includes:

Income Verification APIs:  

  1. Payroll Sync API: Directly verifies income from payroll systems with employee consent.  

  2. Payslip OCR API: Uses optical character recognition to extract and verify income details from uploaded payslips.  

  3. Bank Statement Analyzer API: Analyzes bank statements to verify income patterns over time.

Employment Verification APIs:  

  1. Phone Number API: Verifies employment status via registered phone number.  

  2. Work Email API: Confirms employment through work email verification with user consent.    

  3. Payroll Sync API: Dual-purpose API for both income and employment verification.

By combining these APIs into a single verification suite, businesses can significantly reduce the friction users experience during the onboarding process.

Optimizing the User Onboarding Experience

One of the major improvements offered by Tartan’s VOIE suite is the division of the verification process into two distinct phases: Verification of Employment (VOE) and Verification of Income (VOI). This division allows businesses to verify employment status using options like phone number, work email, and income verification via payroll sync, payslip OCR, or bank statements analyzer APIs.

This process simplifies the user onboarding journey and reduces the likelihood of drop-offs by offering multiple ways to complete income and employment verification. Should one verification option encounter an issue, users can effortlessly seamlessly use an alternative, ensuring a smooth onboarding journey without interruptions. As a result, businesses can expect higher onboarding completion rates, increased user trust, and faster verification times.

Reducing Fraud and Mitigating Risks

Fraud prevention is another significant advantage of using Tartan’s VOIE suite. The suite’s automated verification processes minimize the risk of fraudulent claims and fake documentation, which are common challenges in industries like lending and insurance. By relying on real-time data from payroll systems, work emails, and bank statements, the suite can flag discrepancies or unusual patterns that may indicate fraud, allowing businesses to take immediate action.

Enhancing User Experience and Building Trust

A seamless onboarding experience not only enhances user satisfaction but also builds trust between the business and the user. With Tartan’s VOIE suite, businesses can offer a streamlined, transparent process that users feel confident engaging with. Verification via work email and secure payroll consent improve the credibility of the process, leading to higher trust and more successful onboarding.

Process Optimization for Business Efficiency

Beyond improving user experience and reducing fraud, the VOIE suite also helps businesses optimize their onboarding processes. By automating income and employment verification, businesses can eliminate manual tasks, reduce errors, and save valuable time and resources. This not only improves operational efficiency but also enables businesses to scale their onboarding processes as they grow.

Transforming Industries with Tartan’s VOIE Suite

From financial institutions conducting income verification for loan approvals to HR departments verifying employment details for new hires, the applications for Tartan’s VOIE suite are vast. Businesses across industries are already seeing the benefits of adopting this comprehensive verification solution, with faster onboarding times, reduced fraud risks, and improved user experiences.

Conclusion

In a world where efficiency, trust, and user experience are paramount, businesses can no longer afford to rely on outdated, cumbersome verification processes. Tartan’s Verification of Income and Employment (VOIE) suite offers a streamlined, user-friendly solution that addresses these challenges head-on. By integrating this comprehensive verification suite into your onboarding process, you can optimize your operations, reduce fraud risks, and provide a seamless user experience. 

Discover how Tartan’s VOIE suite can help your business succeed.