The University of Maine System has joined The Work Number, the largest database of employer-direct income and employment information, as the 5,000th client. The Work Number provides automated income and employment information to banks, mortgage companies, auto dealerships, and other entities when authorized by the consumer, and utilized in compliance with Fair Credit Reporting Act regulations. The University of Maine System is the latest employer to benefit from a service that handles outside requests for employment verification.
The University of Maine System benefits by lowering its administrative costs, helping protect employee information, and mitigating organizational risk related to the release of sensitive data.
Through The Work Number, Equifax can instantly fulfill inbound verification requests, because the database is refreshed each pay-period, and directly interfaces with organizations seeking to determine consumer eligibility.
“University of Maine System employees can now expect an expedited response when applying for refinancing of their home, a car loan or even just applying for a credit card,” said Dann Adams, president of Equifax Workforce Solutions. “Their information will also be obtained with their consent in compliance with the Fair Credit Reporting Act.”
Michael Kuentz, senior vice president of Equifax Workforce Solutions, added that, “The fast-growing list of educational institutions and Fortune 500 companies subscribing to The Work Number helps decision-makers who are dependent on third-party employment verifications by providing instant access to millions of payroll records. THis ultimately helps to speed up the application process, minimizes risk, and keeps the economy moving forward.”
Established in 1995, The Work Number has seen steady, consistent growth, resulting in 75 percent of the Fortune 500 outsourcing their income and employment verification functions to Equifax Workforce Solutions. Use by small and mid-sized employer organizations, including federal, state and local governments, has also been on the rise. Equifax remains committed to engaging a broader range of employers and verifiers to subscribe to the service to meet their business needs.
Additional information on The Work Number can be access at TheWorkNumber.com. For information on how your company can utilize The Work Number to keep employee data secure and relieve administrative burden, contact Pete Krieshok at 314-214-7325, or via email at pete.krieshok@Equifax.com.
Click here to download a PDF version of the press release.
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