Argyle Income & Employment Verification is now integrated with Alloy’s Credit Underwriting solution for faster, smarter, and more cost-effective credit decisioning.
Alloy, a leading global identity decisioning platform, enables banks and fintechs to automate their decisions for initial onboarding and ongoing monitoring while mitigating fraud and complying with KYC and AML requirements. As a component of ongoing monitoring, Alloy’s dynamic Credit Underwriting solution takes customer data from many different sources and instantly turns it into precise credit decisions. That gives lenders a holistic view, so they can reduce their levels of risk and their manual workloads all at once.
Now, Alloy is adding Argyle’s real-time Income & Employment Verification solution to the mix as a built-in feature, automating another critical step in the loan origination process and making it easy for lenders to achieve end-to-end efficiency with a single integration.
Below, we explore how Alloy and Argyle’s new partnership works and—more importantly—what it means for your business.
No matter how far a lender is in their digital transformation, they need to know they’re making efficient, accurate credit decisions that benefit both their customers and their business. Historically, that has involved carrying out tedious manual processes and integrating with a variety of sources to collect and verify customers’ data, so they can minimize risk, prevent fraud, and ensure compliance with all applicable policies and regulations.
But meeting basic compliance measures and making smart, secure credit decisions shouldn’t require a heavy technical lift. That’s why Alloy and Argyle have joined forces to cut down the necessary number of integrations.
As an industry-leading identity decisioning platform, Alloy provides best-in-class KYC and fraud detection as a core service. Alloy’s Credit Underwriting solution enables lenders to extend these automated onboarding tools throughout the loan origination waterfall, unlocking a more seamless decisioning process and a better borrower experience.
With the new Argyle integration, income and employment verifications are also included as a native, flexible, drag-and-drop feature. That means lenders who use Alloy to streamline their underwriting don’t have to build and manage a separate connection to Argyle to also enjoy the benefits of fully automated Verification of Income (VOI) and Verification of Employment (VOE).
Ultimately, this collaborative, comprehensive approach means lenders can eliminate barriers of access to automation and maximize the value of their tech stack with a reliable orchestration solution that lowers both their time to market and their overhead costs.
The Argyle advantage
So, what other value does integrating with Argyle’s Income & Employment Verification solution introduce for Alloy’s already powerful platform?
By working Argyle into their Alloy tool belt, lenders can cut their manual workloads by at least 50% and ensure the loan origination process is frictionless for both their team and their customers.
That means the Alloy-Argyle partnership isn’t just grounded in a great product fit, but a mutual vision for the future of lending—a future where lenders can take paper-based processes and human error out of the equation and make better, more informed credit decisions powered by superior, holistic data.
“Applying for a loan can be a tedious and time-consuming process for customers. Using Alloy helps make credit underwriting seamless by automating key identity verification and credit risk assessment steps,” Said Zoya Khurana, Alloy’s Credit Underwriting Lead Product Manager. “By automating income and employment verification, Alloy’s partnership with Argyle will further improve the customer experience by reducing friction so that lenders can optimize their customer conversion rates.”
Ready to leverage Argyle’s Income & Employment Verification solution through Alloy?
Get in touch with Argyle’s team, and learn how automated income and employment verifications powered by real-time payroll connections can optimize your lending operations—or sign up for a free account to try them out for yourself.