#United States #Philadelphia #Xactus #Experian Verify #Employment Insight

Transforming Employment Verification: Xactus360 and Experian Verify™

In the ever-evolving landscape of the mortgage industry, Xactus is once again pushing the boundaries of innovation. The fintech leader has unveiled the Experian Verify™ Preview Report, a groundbreaking addition to its Xactus360 Intelligent Verification Platform™. This new functionality provides lenders with immediate access to borrower employment information, enhancing their operational efficiency and decision-making processes without incurring extra costs.

What is Xactus360?

Xactus360 is not just another verification platform; it is positioned as an industry-first Intelligent Verification solution that equips financial organizations with cutting-edge technology to streamline their verification processes. By incorporating robust data insights directly into the credit report experience, Xactus360 enhances the speed and accuracy with which lenders can assess borrower risk.

The Experian Verify™ Preview Report

With the inclusion of the Experian Verify feature, lenders are now able to see upfront which employment records are available for a specific consumer before making a full verification request. Historically, obtaining such insights required an extensive verification process involving separate relationships and additional steps, which could often delay critical loan decisions. The Preview Report allows lenders to verify employment status instantly, thereby reducing typical operational delays.

Benefits for Lenders

Greg Holmes, Xactus’ Chief Revenue Officer, emphasizes the importance of timely access to accurate data, especially in a time when lenders must navigate tighter budgets and higher workloads. He notes, “By bringing employment insights directly within the credit report, we're enabling clients to reduce unnecessary costs and streamline workflows.” This aligns with the ongoing trend within the financial sector toward data-driven, automated decision-making, further positioning Xactus360 as a vital tool in modern mortgage verification processes.

Co-creating Possibilities with Experian

Xactus has partnered with Experian, a titan in information services, to make reliable data more accessible. John Tsefrikas, Senior Vice President at Experian, points out that through this collaboration, lenders are now equipped with tools that streamline the verification process, enhancing visibility into employment data when it is needed most. This integration is a transformative step away from the previously cumbersome verification methods.

Streamlined and Precise Decision Making

The Experian Verify Preview Report allows lenders to identify usable employment data early in the verification process. This capability not only saves time but also reduces operational friction—an advantage crucial for maintaining competitiveness in today’s fast-paced lending environment. It effectively minimizes the risk of placing unnecessary verification orders, leading to a more precise approach to decision-making.

No Additional Costs or Integrations Required

One of the standout features of the Experian Verify Preview Report is that it is provided at no additional cost to clients who order credit reports through Xactus. The absence of a need for new integrations or workflow changes means that lenders can seamlessly incorporate this innovative feature into their existing operations, accelerating their time to market.

As we move deeper into a technology-driven era, the enhancements being made through Xactus360 reinforce the company’s mission to modernize verification processes. By ensuring that clients can access the correct data quickly and efficiently, Xactus is not only enhancing lender capabilities but also shaping the future of mortgage verification.

To find out more about how Xactus is redefining verification or to request a demo, visit their official website.