#United States #Atlanta #social services #Equifax #Complete Income

Equifax Launches Complete Income™ for Enhanced Social Services

Equifax, a leading data and analytics company, has made a significant advancement in social service processes with the introduction of Complete Income™, slated for release in August 2025. This innovative solution leverages the Equifax Cloud™ to assist U.S. federal, state, and local government agencies in efficiently verifying income for social service benefit applications, such as Medicaid and SNAP.

The Challenge of Income Verification for Social Services

In recent years, the U.S. workforce has seen a notable shift, with nearly 35 million independent workers emerging within just four years. This transformation has posed unique challenges for government agencies when verifying income for social program eligibility. According to Mike Bromley, Senior Vice President and General Manager of Government Solutions at Equifax, the complexity of modern employment, particularly for gig and self-employed workers, complicates the income verification process. Traditional payroll records often suffice for regular employees; however, the same cannot be said for those with non-traditional income streams.

Agencies frequently encounter hurdles in confirming self-employed individuals’ incomes, requiring them to sift through piles of receipts reflecting income and expenses. This cumbersome manual verification process not only delays eligibility decisions but is also fraught with potential errors.

A Comprehensive Solution

Complete Income™ aims to simplify this cumbersome process. Utilizing the Equifax Verification Insights Portal, caseworkers can place an order that initiates an automated response with the applicant directed to a secure platform for submitting their income information. This innovative solution generates Instant Social Service Verification Reports leveraging The Work Number® database, which aggregates W-2 employment records from over 4.4 million employers. Moreover, it incorporates an Income and Expense Connect Solution, integrating consumer-credentialed bank deposit data from 92% of U.S. financial institutions, alongside self-reported financial data.

To improve the efficiency of caseworkers, this streamlined approach enhances visibility into applicants' holistic income situations, bolstering agencies' capabilities to make better-informed decisions regarding eligibility. The system not only reduces the burden on caseworkers by minimizing manual tasks but also accelerates the process for applicants, leading to faster benefits decisions.

Empowering Caseworkers and Applicants Alike

As assertions from Bromley outline, Complete Income™ significantly enhances operations for agencies and caseworkers. They can now concentrate on more substantial responsibilities rather than getting bogged down by tedious administration. The solution promises to deliver confidence in verifying applicant information, ultimately benefiting the vulnerable populations seeking assistance.

By harnessing Fair Credit Reporting Act (FCRA) compliance, Complete Income™ produces clear consumer reports that categorize income data into traditional earnings alongside alternative income sources, such as pensions and support payments.

Equifax is committed to assisting governments in adapting to the evolving workforce dynamics. The introduction of Complete Income™ exemplifies their innovation in offering comprehensive solutions designed to meet the needs of contemporary society. As the target date approaches for rollout in August, agencies across the nation are anticipating the transformative impact of this new tool.

For more details regarding Complete Income™, visit Equifax's official website.